Four-Family Multifamily Income
For Sale
$629,900
Pending
188 James St, New Haven, CT 06513
Four separate units total 8 bedrooms and 4 full bathrooms in a multifamily building with multiple streams of rental income.
Property Size3,388 SF
Days on Market128
Property Features for 188 James St
General Information
Standard status
Pending
Size
3,388 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Roundtree Realty LLC
Listed By:
Javyn Roundtree (475) 227-4312 (475) 227-4312 · License #0795713
(475) 227-4312
Source:
Jaida.mappmyhome
Added: Jun 8
Changed: Oct 1
Last Checked: Oct 12 at 7:50PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Roundtree Realty LLC
Investment Insights
Based on property information with market context.
This four-family multifamily property at 188 James St offers four separate units under one roof, with a total of 8 bedrooms and 4 full bathrooms. The building is configured for residential income and includes approximately 3,388 square feet of living space.
Located in the Fair Haven area of New Haven, the property provides convenient access to downtown New Haven, Yale University, Yale New Haven Hospital, local shopping and restaurants, public transportation, parks, and everyday necessities. Connectivity throughout the region is supported by proximity to I-91 and I-95.
With four units in a single building, the property provides a diversified residential income setup for an owner seeking a larger multifamily asset in New Haven’s rental market.
Located in the Fair Haven area of New Haven, the property provides convenient access to downtown New Haven, Yale University, Yale New Haven Hospital, local shopping and restaurants, public transportation, parks, and everyday necessities. Connectivity throughout the region is supported by proximity to I-91 and I-95.
With four units in a single building, the property provides a diversified residential income setup for an owner seeking a larger multifamily asset in New Haven’s rental market.
Key Highlights
- 1900‑built four‑family multifamily on James Street with 4 separate units
- Total of 8 bedrooms and 4 full bathrooms across the four units
- Approximately 3,388 sq ft of living space in the building
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,027
Cap Rate
9.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,140,540
$1.1M
Cap Rate 7%
$814,671
$814.7K
Cap Rate 9%
$633,633
$633.6K
Market Conditions
NOI Build-Up for 3,388 SF
Gross rent
$87.4K $25.80/SF
− Vacancy
−$5.9K −$1.75/SF
EGI
$81.5K $24.05/SF
− OpEx
−$24.4K −$7.21/SF
NOI
$57.0K $16.83/SF
Area
New Haven, CT
Vacancy
6.80%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,140,540
Cap Rate 7%
$814,671
Cap Rate 9%
$633,633
Alternative Uses
Best Use
Multifamily LT 5
$814.7K
$712.8K – $950.5K
NOI $57,027 @ 7.0% cap · market cap 9.05%
Second Best
Apartment 5plus
$758.1K
$663.3K – $884.4K
NOI $53,065 @ 7.0% cap · market cap 8.42%
Theoretical Best
Office A
$1.09M
$953.6K – $1.27M
NOI $76,289 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,208
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate units total 8 bedrooms and 4 full bathrooms in a multifamily building with multiple streams of rental income.
Where is this quadplex located?
The property is located at 188 James St New Haven, CT.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 1900‑built four‑family multifamily on James Street with 4 separate units; Total of 8 bedrooms and 4 full bathrooms across the four units; Approximately 3,388 sq ft of living space in the building
