Duplex with Basement
For Sale
$749,900
20 Nash Street, New Haven, CT 06511
RM2-zoned duplex with distinct apartments, shared outdoor space, and basement storage in New Haven’s East Rock area.
Property Size2,229 SF
Price / SF$336.43
Days on Market195
Property Features for 20 Nash Street
General Information
Standard status
Active
Size
2,229 SF
Property subtype
Multi-Family / 2 Family
Zoning
RM2
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2BR/1BA, 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$13,139
Amenities
shared backyard space
basement storage
Yes
Hot Air
14
Heat Pump
Walk-up
Common Laundry Area
Basement
Not Applicable
Building Details
Year Built
1900
Buildings
1
Tenancy
Multi
Listing Agency:
Hotchkiss Co William M
(203) 772-3200
Listed By:
Richard H Coote · License #REB.0751505
(203) 772-3200
Source:
Compass
Added: Feb 16
Changed: Aug 29
Last Checked: Aug 29 at 3:56PM
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 Hotchkiss Co William M
Investment Insights
Based on property information with market context.
This two-unit residential income property was built in 1900 and offers separate apartments with hardwood flooring. The first-floor residence includes two bedrooms, a full bathroom, living and dining rooms, and a kitchen. The upper apartment provides three bedrooms, two full bathrooms, a primary suite, and an open living and dining area. Shared backyard space, basement storage, walk-up access, and a common laundry area are included. Heating features include hot air and a heat pump.
The property is zoned RM2 and is located at 20 Nash Street in New Haven. The first-floor apartment is leased through 2026, while the second-floor apartment is partially leased through 2026. The location provides access to Yale, Albertus Magnus, UNH, Quinnipiac, I-95, I-91, Tweed airport, and Union train station, with restaurants, markets, coffee shops, and East Rock Park nearby.
The property is zoned RM2 and is located at 20 Nash Street in New Haven. The first-floor apartment is leased through 2026, while the second-floor apartment is partially leased through 2026. The location provides access to Yale, Albertus Magnus, UNH, Quinnipiac, I-95, I-91, Tweed airport, and Union train station, with restaurants, markets, coffee shops, and East Rock Park nearby.
Key Highlights
- Two distinct apartments with a two‑bedroom first‑floor unit and a three‑bedroom upper unit
- Upper apartment includes a primary suite and 2 full bathrooms
- First‑floor apartment leased through 2026; second‑floor apartment partially leased through 2026
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
$37,518
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
5.00%
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%
$750,360
$750.4K
Cap Rate 7%
$535,971
$536.0K
Cap Rate 9%
$416,867
$416.9K
Market Conditions
NOI Build-Up for 2,229 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
$57.5K $25.80/SF
− Vacancy
−$3.9K −$1.75/SF
EGI
$53.6K $24.05/SF
− OpEx
−$16.1K −$7.21/SF
NOI
$37.5K $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%
$750,360
Cap Rate 7%
$535,971
Cap Rate 9%
$416,867
Alternative Uses
Best Use
Multifamily LT 5
$536.0K
$469.0K – $625.3K
NOI $37,518 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$498.7K
$436.4K – $581.9K
NOI $34,912 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$717.0K
$627.4K – $836.5K
NOI $50,191 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,051
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 - RM2-zoned duplex with distinct apartments, shared outdoor space, and basement storage in New Haven’s East Rock area.
Where is this duplex located?
The property is located at 20 Nash Street New Haven, CT.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two distinct apartments with a two‑bedroom first‑floor unit and a three‑bedroom upper unit; Upper apartment includes a primary suite and 2 full bathrooms; First‑floor apartment leased through 2026; second‑floor apartment partially leased through 2026
