1925 Tudor Revival
For Sale
$795,000
Pending
1980-1982 Chapel St, New Haven, CT 06515
Distinctive duplex with original details and modern updates.
Property Size3,344 SF
Lot Size0.43 Acres
Days on Market110
Property Features for 1980-1982 Chapel St
General Information
Standard status
Pending
Size
3,344 SF
Lot size
0.43 Acres
Property subtype
Multi Family
Building Details
Year Built
1925
Listing Agency:
(203) 306-8453
Listed By:
Cindy L. Sloan
(203) 306-8453
Source:
Elliman
Added: Apr 21
Changed: Jul 10
Last Checked: Aug 8 at 1:07PM
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 Cindy L. Sloan
Investment Insights
Based on property information with market context.
This 1925 Tudor Revival Duplex presents an opportunity to own a property rich in character and architectural detail. The property preserves its original craftsmanship while offering updates for modern living. Each residence features its own private entrance and lives independently, with no shared basement, attic, or utilities. Both units showcase leaded multi-pane casement windows, deep-tone oak trim, original parquet hardwood flooring, and fireplaces. The exterior features a stucco and brick facade, slate roof, and arched entryways. Both units offer 1,672 square feet across two levels, along with private full basements and walk-up attic space. Updated kitchens in each home are appointed with granite or quartz countertops, marble tile flooring, and stainless steel appliances. Unit #1980 features 3 bedrooms, 1 full bath, and 2 half baths, including a half bath in the primary bedroom. Unit #1982 offers 2 bedrooms and 2.5 baths, highlighted by a primary suite with walk-in closet and a full bath complete with both a tub and separate walk-in shower. Set on a 0.43-acre lot, the property provides a spacious backyard.
Key Highlights
- Rare Tudor Revival Duplex with independent residences.
- Showcasing original architectural details: leaded windows, oak trim, parquet floors, fireplaces.
- Updated kitchens feature granite/quartz countertops, marble floors, and stainless steel appliances.
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
$56,286
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
7.08%
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%
$1,125,720
$1.1M
Cap Rate 7%
$804,086
$804.1K
Cap Rate 9%
$625,400
$625.4K
Market Conditions
NOI Build-Up for 3,344 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
$86.3K $25.80/SF
− Vacancy
−$5.9K −$1.75/SF
EGI
$80.4K $24.05/SF
− OpEx
−$24.1K −$7.21/SF
NOI
$56.3K $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%
$1,125,720
Cap Rate 7%
$804,086
Cap Rate 9%
$625,400
Alternative Uses
Best Use
Multifamily LT 5
$804.1K
$703.6K – $938.1K
NOI $56,286 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$748.2K
$654.7K – $872.9K
NOI $52,376 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$1.08M
$941.2K – $1.25M
NOI $75,298 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 06515, CT
17,877
Population
7,531
Households
2.4
Avg Household Size
33
Median Age
48%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
3,886
Density / Sq Mi
$74,044
Median Household Income
$40,209
Median Earnings
$1,410
Median Rent
$284,200
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 - Distinctive duplex with original details and modern updates.
Where is this duplex located?
The property is located at 1980-1982 Chapel St New Haven, CT.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Rare Tudor Revival Duplex with independent residences.; Showcasing original architectural details: leaded windows, oak trim, parquet floors, fireplaces.; Updated kitchens feature granite/quartz countertops, marble floors, and stainless steel appliances.
