Updated Two-Family
237 Elm Street West Haven, CT 06516
237 Elm Street, West Haven, CT, 06516
$599,000
For Sale
$599,000
Two connected apartments include separate utilities, stackable washer/dryer in each unit, and updated kitchens with granite and stainless appliances.
Property Size1,950 SF
Price / SF$307.18
Days on Market72
Property Features for 237 Elm Street
General Information
- Standard status
- Active
- Size
- 1,950 SF
- Property subtype
- 2 Family
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker Realty
(203) 605-7733
Listed by
Fran Morrow
(203) 605-7733
Source
Lockandkeyre
Added: May 12 Updated: Jul 21 at 3:27PM Checked: Jul 21 at 3:27PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This updated two-family residence offers two separate apartments with hardwood floors throughout and tile in the kitchens and bathrooms. The first-floor apartment includes two bedrooms and one full bathroom. The second and third floors combine for a three-bedroom, one-bath layout, with an open third-floor space currently used as a large family room that could be reconfigured for additional living space. Kitchens feature granite countertops and stainless-steel appliances, and each unit has its own stackable washer and dryer. The property also features gas heat, central air conditioning, and on-demand hot water heaters, with separate utilities for each unit.
Outdoor spaces include a front porch and a rear paver patio, with parking for four cars and additional off-street parking available. The home is described as conveniently located near shopping, restaurants, major highways, and within minutes of University of New Haven and Yale University.
Outdoor spaces include a front porch and a rear paver patio, with parking for four cars and additional off-street parking available. The home is described as conveniently located near shopping, restaurants, major highways, and within minutes of University of New Haven and Yale University.
Key Highlights
- Updated 2‑family home: 1st‑floor unit has 2 bed/1 bath; 2nd & 3rd‑floor unit has 3 bed/1 bath
- Third‑floor open space used as a large family room; potential to reconfigure for a 4th bedroom, additional bath, home office, or flex space
- Renovated about 15 years ago with hardwood floors throughout and tile in kitchens and bathrooms
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.3k | $25.80 |
| − Vacancy | −$3.4k | −$1.75 |
| EGI | $46.9k | $24.05 |
| − OpEx | −$14.1k | −$7.21 |
| NOI | $32.8k | $16.83 |
1,950 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$468.9K
$410.3K – $547.0K
NOI $32,822 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$436.3K
$381.8K – $509.0K
NOI $30,542 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$627.3K
$548.9K – $731.8K
NOI $43,909 @ 7.0% cap · market cap 7.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two connected apartments include separate utilities, stackable washer/dryer in each unit, and updated kitchens with granite and stainless appliances.
Where is this duplex located?
The property is located at 237 Elm Street West Haven, CT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Updated 2‑family home: 1st‑floor unit has 2 bed/1 bath; 2nd & 3rd‑floor unit has 3 bed/1 bath; Third‑floor open space used as a large family room; potential to reconfigure for a 4th bedroom, additional bath, home office, or flex space; Renovated about 15 years ago with hardwood floors throughout and tile in kitchens and bathrooms
