Spacious Two-Family Home,
For Sale
$415,000
Pending
2831 Dixwell Avenue, Hamden, CT 06518
Two-family home with live/work potential in Hamden, Connecticut.
Property Size2,500 SF
Days on Market125
Property Features for 2831 Dixwell Avenue
General Information
Standard status
Pending
Size
2,500 SF
Property subtype
2 Family
Building Details
Year Built
1925
Listing Agency:
Coldwell Banker Realty
(203) 605-4480
Listed By:
Carol Cangiano
(203) 605-4480
Source:
Lockandkeyre
Added: Apr 6
Changed: Aug 8
Last Checked: Apr 20 at 7:27PM
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.
Located on Old Dixwell Avenue, this spacious two-family home in the heart of town offers a prime opportunity for investors or professionals seeking a live/work setup. Zoned for both residential and commercial use, the property features an inviting enclosed front porch with access to both units. The first-floor unit includes a living room, a dining room with built-ins, a kitchen, two bedrooms, and a full bath, all accented by window-paned hardwood floors. The second unit is two levels and offers a formal living room and dining room with built-ins, a kitchen, a private upper-level porch, three bedrooms, and two full baths. Both units are bright, clean, and in good condition, with tenants in place. Each unit is equipped with its own furnace, hot water heater, and electric panel. The property is suitable for professionals such as attorneys, accountants, or therapists, offering the option to live in one unit and operate a business from the other. The property is being sold AS IS. Hamden is in the 2nd year of a 4 yr tax phase in.
Key Highlights
- Zoned for both residential and commercial use, ideal for live/work setup.
- Two separate units, each with its own furnace, hot water heater, and electric panel.
- Excellent tenants are already in place.
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
$34,500
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
8.31%
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%
$690,000
$690.0K
Cap Rate 7%
$492,857
$492.9K
Cap Rate 9%
$383,333
$383.3K
Market Conditions
NOI Build-Up for 2,500 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
$60.0K $24.00/SF
− Vacancy
−$4.8K −$1.92/SF
EGI
$55.2K $22.08/SF
− OpEx
−$20.7K −$8.28/SF
NOI
$34.5K $13.80/SF
Area
New Haven, CT
Vacancy
8.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
37.50%
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%
$690,000
Cap Rate 7%
$492,857
Cap Rate 9%
$383,333
Alternative Uses
Best Use
Multifamily LT 5
$601.1K
$526.0K – $701.3K
NOI $42,080 @ 7.0% cap · market cap 10.14%
Second Best
Apartment 5plus
$559.4K
$489.5K – $652.6K
NOI $39,157 @ 7.0% cap · market cap 9.44%
Theoretical Best
Office A
$804.2K
$703.7K – $938.2K
NOI $56,293 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,713
Businesses Nearby
Explore this area
Business Placement
Demographics for 06518, CT
19,528
Population
7,285
Households
2.7
Avg Household Size
34
Median Age
50%
College-Educated
96%
High-School Grad
16.5 sq mi
ZIP Area
1,184
Density / Sq Mi
$105,227
Median Household Income
$33,932
Median Earnings
$2,044
Median Rent
$307,900
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 home with live/work potential in Hamden, Connecticut.
Where is this duplex located?
The property is located at 2831 Dixwell Avenue Hamden, CT.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Zoned for both residential and commercial use, ideal for live/work setup.; Two separate units, each with its own furnace, hot water heater, and electric panel.; Excellent tenants are already in place.
