Two-Family
For Sale
$515,000
161 Thompson Street, New Haven, CT 06511
MULTI_FAMILY - New Haven, CT
Property Size2,936 SF
Lot Size0.20 Acres
Price / SF$175.41
Days on Market78
Property Features for 161 Thompson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bedroom 7, Bedroom 5, Bedroom 4, Bathroom 2, Bedroom 8, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 6, Bathroom 3
Basement
Full
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
USE GPS
Subdivision
Newhallville
Standard status
Active
Size
2,936 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
7430
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
Outreach Realty Servicing
(203) 498-2031
Listed By:
Roberta Hoskie
(203) 589-8949
Added: May 29
Changed: Aug 13
Last Checked: Aug 14 at 11:06PM
MLS# 24179245
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,936-square-foot duplex, built in 1900, contains two residential units on a 0.2-acre lot. The larger residence has 5 bedrooms and 2 full bathrooms, while the second includes 3 bedrooms and 1 full bathroom. The property is served by public water and public sewer and is zoned RM2.
Located at 161 Thompson Street in New Haven, the property is positioned near shopping, restaurants, schools, parks, public transportation, and major highways. The two-unit layout supports an owner-occupant arrangement or separate tenant occupancy, subject to applicable requirements.
Located at 161 Thompson Street in New Haven, the property is positioned near shopping, restaurants, schools, parks, public transportation, and major highways. The two-unit layout supports an owner-occupant arrangement or separate tenant occupancy, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 2,936 square feet of property size
- One unit includes 5 bedrooms and 2 full bathrooms
- Second unit offers 3 bedrooms and 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$45,986
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$919,720
$919.7K
Cap Rate 7%
$656,943
$656.9K
Cap Rate 9%
$510,956
$511.0K
Market Conditions
NOI Build-Up for 2,936 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.1K $30.36/SF
− Vacancy
−$5.5K −$1.88/SF
EGI
$83.6K $28.48/SF
− OpEx
−$37.6K −$12.81/SF
NOI
$46.0K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$919,720
Cap Rate 7%
$656,943
Cap Rate 9%
$510,956
Alternative Uses
Best Use
Multifamily LT 5
$706.0K
$617.7K – $823.7K
NOI $49,419 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$656.9K
$574.8K – $766.4K
NOI $45,986 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$944.4K
$826.4K – $1.10M
NOI $66,111 @ 7.0% cap · market cap 12.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
906
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer flexible occupancy arrangements with substantial living space and separate bedroom-and-bath configurations.
Where is this duplex located?
The property is located at 161 Thompson Street New Haven, CT.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,936 square feet of property size; One unit includes 5 bedrooms and 2 full bathrooms; Second unit offers 3 bedrooms and 1 full bathroom
