Three-Bedroom Duplex with
New
For Sale
$525,000
196 Blatchley Ave, New Haven, CT 06513
Two leased residential units offer three bedrooms each, with a balcony, off-street parking, and a finished attic.
Property Size3,029 SF
Price / SF$173.50
Days on Market4
Property Features for 196 Blatchley Ave
General Information
Standard status
Active
Size
3,029 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Building Size
3,029 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Century 21 Scala Group
(682) 227-5285
Listed By:
Angel Torres
(682) 227-5285
Source:
Elliman
Added: Aug 11
Changed: Aug 12
Last Checked: Aug 14 at 10:48AM
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 Century 21 Scala Group
Investment Insights
Based on property information with market context.
This 1900-built duplex contains two residential units, each measuring 1,143 square feet with three bedrooms. The building totals 3,026 square feet and includes a balcony serving the second unit, off-street parking, and a finished attic. Additional flex rooms are also part of the property, providing adaptable interior space.
Both units are leased, and the property is described as move-in ready and well maintained. Recent property improvements include newer water heaters and furnaces in sparkling condition. A bus stop is located just steps from the front door, while the property records a Walk Score of 76, a Bike Score of 54, and a Transit Score of 45.
Both units are leased, and the property is described as move-in ready and well maintained. Recent property improvements include newer water heaters and furnaces in sparkling condition. A bus stop is located just steps from the front door, while the property records a Walk Score of 76, a Bike Score of 54, and a Transit Score of 45.
Key Highlights
- Duplex with two 1,143 SQFT units, each offering 3 beds
- 3,026 SQFT total building area
- Both units are leased
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
$47,395
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
9.03%
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%
$947,900
$947.9K
Cap Rate 7%
$677,071
$677.1K
Cap Rate 9%
$526,611
$526.6K
Market Conditions
NOI Build-Up for 3,026 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
$91.9K $30.36/SF
− Vacancy
−$5.7K −$1.88/SF
EGI
$86.2K $28.48/SF
− OpEx
−$38.8K −$12.81/SF
NOI
$47.4K $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%
$947,900
Cap Rate 7%
$677,071
Cap Rate 9%
$526,611
Alternative Uses
Best Use
Multifamily LT 5
$727.6K
$636.7K – $848.9K
NOI $50,933 @ 7.0% cap · market cap 9.70%
Second Best
Apartment 5plus
$677.1K
$592.4K – $789.9K
NOI $47,395 @ 7.0% cap · market cap 9.03%
Theoretical Best
Office A
$973.4K
$851.7K – $1.14M
NOI $68,137 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,217
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
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?
Duplex - Two leased residential units offer three bedrooms each, with a balcony, off-street parking, and a finished attic.
Where is this duplex located?
The property is located at 196 Blatchley Ave New Haven, CT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Duplex with two 1,143 SQFT units, each offering 3 beds; 3,026 SQFT total building area; Both units are leased
