Renovated Duplex with Private
New
For Sale
$449,000
253 Goodrich Street, Hamden, CT 06517
Two-family residence with updated kitchens and baths, a fenced yard, deck, and off-street parking.
Property Size1,988 SF
Price / SF$225.86
Days on Market4
Property Features for 253 Goodrich Street
General Information
Standard status
Active
Size
1,988 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Amenities
fully fenced yard
deck
large backyard
private off-street parking
new appliances
Building Details
Year Built
1920
Buildings
1
Listing Agency:
eXp Realty
Listed By:
Angel Mora · License #RES.0812060
(203) 666-1172
Source:
Lockandkeyre
Added: Aug 31
Changed: Sep 2
Last Checked: Sep 2 at 2:01PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This renovated duplex, built in 1920, offers two-family residential functionality with refreshed interior and exterior finishes. Improvements include new hardwood flooring, updated kitchens with cabinetry, countertops, and appliances, plus renovated bathrooms. The property also includes a fully fenced yard, deck, large backyard, and private off-street parking.
Located at 253 Goodrich Street in Hamden, Connecticut, the home combines updated living areas with outdoor space and on-site parking. The property size is listed as 1,988, providing a substantial footprint for a two-family residence.
Located at 253 Goodrich Street in Hamden, Connecticut, the home combines updated living areas with outdoor space and on-site parking. The property size is listed as 1,988, providing a substantial footprint for a two-family residence.
Key Highlights
- Renovated duplex with two‑family configuration
- New hardwood flooring and refreshed interior and exterior paint
- Updated kitchens with new cabinetry, countertops, and 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
$33,462
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
7.45%
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%
$669,240
$669.2K
Cap Rate 7%
$478,029
$478.0K
Cap Rate 9%
$371,800
$371.8K
Market Conditions
NOI Build-Up for 1,988 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
$51.3K $25.80/SF
− Vacancy
−$3.5K −$1.75/SF
EGI
$47.8K $24.05/SF
− OpEx
−$14.3K −$7.21/SF
NOI
$33.5K $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%
$669,240
Cap Rate 7%
$478,029
Cap Rate 9%
$371,800
Alternative Uses
Best Use
Multifamily LT 5
$478.0K
$418.3K – $557.7K
NOI $33,462 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$444.8K
$389.2K – $519.0K
NOI $31,137 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$639.5K
$559.6K – $746.1K
NOI $44,764 @ 7.0% cap · market cap 9.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Explore this area
Business Placement
Demographics for 06517, CT
14,954
Population
6,875
Households
2.2
Avg Household Size
45
Median Age
52%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
2,991
Density / Sq Mi
$97,154
Median Household Income
$58,025
Median Earnings
$1,351
Median Rent
$313,000
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 - Two-family residence with updated kitchens and baths, a fenced yard, deck, and off-street parking.
Where is this duplex located?
The property is located at 253 Goodrich Street Hamden, CT.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Renovated duplex with two‑family configuration; New hardwood flooring and refreshed interior and exterior paint; Updated kitchens with new cabinetry, countertops, and appliances
