5-Unit Apartment
271 Sherman Avenue, New Haven, CT 06511
For Sale
$865,000
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size4,055 SF
Lot Size0.11 Acres
Price / SF$213.32
Days on Market94
Property Features for 271 Sherman Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Patio and Porch features
Exterior features
Basement
Lot features
Elementary school
High school
Directions
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Architectural style
Listing Agency:
mygoodagent
(888) 257-8265
Listed By:
Dominique Larose · License CT RES.0793571
(203) 606-5010
Added: Aug 13
Changed: Nov 8
Last Checked: Nov 13 at 11:06PM
MLS# 24199180
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4,055-square-foot apartment property contains five units: four one-bedroom apartments and one three-bedroom apartment. The building dates to 1900 and sits on a 0.11-acre lot in New Haven. Improvements include a new roof, replacement windows, updated mechanicals, electrical and plumbing systems, and refreshed bathrooms with tiled walls. Kitchens have stone countertops, while flooring combines hardwood and tile.
The property is zoned RM2 and has public water and public sewer. Exterior features include a wraparound porch, balcony, breezeway and deck. The apartments are described as leased, with stabilized occupancy.
The property is zoned RM2 and has public water and public sewer. Exterior features include a wraparound porch, balcony, breezeway and deck. The apartments are described as leased, with stabilized occupancy.
Key Highlights
- Five apartments: four one‑bedroom units and one three‑bedroom unit
- 4,055 square feet on a 0.11‑acre lot
- New roof, replacement windows, and updated mechanicals, electrical, and plumbing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,512
Cap Rate
7.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,270,240
$1.3M
Cap Rate 7%
$907,314
$907.3K
Cap Rate 9%
$705,689
$705.7K
Market Conditions
NOI Build-Up for 4,055 SF
Gross rent
$123.1K $30.36/SF
− Vacancy
−$7.6K −$1.88/SF
EGI
$115.5K $28.48/SF
− OpEx
−$52.0K −$12.81/SF
NOI
$63.5K $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 Rate 5%
$1,270,240
Cap Rate 7%
$907,314
Cap Rate 9%
$705,689
Alternative Uses
Best Use
Apartment 5plus
$907.3K
$793.9K – $1.06M
NOI $63,512 @ 7.0% cap · market cap 7.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,308 @ 7.0% cap · market cap 10.56%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,446
Businesses Nearby
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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
$313,400
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in New Haven, CT
Properties on Market for Apartment buildings in New Haven
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five apartments combine renovated interiors and building systems with a mix of compact and larger floor plans.
Where is this apartment building located?
The property is located at 271 Sherman Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $865,000.
What are key features of this property?
This property features: Five apartments: four one‑bedroom units and one three‑bedroom unit; 4,055 square feet on a 0.11‑acre lot; New roof, replacement windows, and updated mechanicals, electrical, and plumbing
