Brick
New
For Sale
$875,000
191 Saint John Street, New Haven, CT 06511
Four-unit income property with separate utilities, replacement windows, in-unit laundry, and off-street parking.
Property Size3,888 SF
Price / SF$225.05
Days on Market4
Property Features for 191 Saint John Street
General Information
Standard status
Active
Size
3,888 SF
Property subtype
4 Family
Building Details
Year Built
1900
Listing Agency:
Betsy Grauer Realty, Inc
(203) 641-3003
Listed By:
Betsy Grauer
(203) 641-3003
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 20
Last Checked: Aug 20 at 4:59AM
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 Betsy Grauer Realty, Inc
Investment Insights
Based on property information with market context.
This four-unit residential income property occupies a brick and frame building at 191 Saint John Street. Built in 1900, the 3,888-square-foot property includes apartments with separate utilities, gas heat, individual hot water heaters, replacement windows, and washers and dryers in each unit. Off-street parking accommodates six cars.
The property is near Yale, Yale New Haven Hospital, the train station, and downtown New Haven. Its configuration provides four residential units within a single multifamily building, with practical features including dedicated utility arrangements, in-unit laundry, and on-site parking.
The property is near Yale, Yale New Haven Hospital, the train station, and downtown New Haven. Its configuration provides four residential units within a single multifamily building, with practical features including dedicated utility arrangements, in-unit laundry, and on-site parking.
Key Highlights
- Four‑unit brick and frame multifamily building
- 3,888 square feet on a 1900‑built property
- Separate utilities with gas heat and hot water heaters
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
$65,443
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
7.48%
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%
$1,308,860
$1.3M
Cap Rate 7%
$934,900
$934.9K
Cap Rate 9%
$727,144
$727.1K
Market Conditions
NOI Build-Up for 3,888 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
$100.3K $25.80/SF
− Vacancy
−$6.8K −$1.75/SF
EGI
$93.5K $24.05/SF
− OpEx
−$28.0K −$7.21/SF
NOI
$65.4K $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 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%
$1,308,860
Cap Rate 7%
$934,900
Cap Rate 9%
$727,144
Alternative Uses
Best Use
Multifamily LT 5
$934.9K
$818.0K – $1.09M
NOI $65,443 @ 7.0% cap · market cap 7.48%
Second Best
Apartment 5plus
$870.0K
$761.2K – $1.01M
NOI $60,897 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$1.25M
$1.09M – $1.46M
NOI $87,547 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,289
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?
Quadplex - Four-unit income property with separate utilities, replacement windows, in-unit laundry, and off-street parking.
Where is this quadplex located?
The property is located at 191 Saint John Street New Haven, CT.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four‑unit brick and frame multifamily building; 3,888 square feet on a 1900‑built property; Separate utilities with gas heat and hot water heaters
