Duplex with Updated Upper
284 Morse St, Hamden, CT 06517
For Sale
New
$439,000
An existing first-floor tenancy complements an upper residence prepared for owner occupancy or a new tenant.
Property Size2,400 SF
Price / SF$182.92
Days on Market4
Property Features for 284 Morse St
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
Roundtree Realty LLC
Listed By:
Jacob Mochkin · License CT RES.0834521
(347) 981-0571
Source:
Jaida.mappmyhome
Added: Nov 9
Changed: Nov 12
Last Checked: Nov 12 at 7:36AM
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 Roundtree Realty LLC
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Investment Insights
Based on property information with market context.
This 1929 duplex contains two residences, with a tenant currently occupying the first-floor unit. The upper unit has been renovated and is available for an owner to occupy or for a new tenant. The property is zoned R5 N.
Located in Hamden, the corner-lot property is minutes from Dixwell Avenue, downtown New Haven, Yale, and East Rock Park. A park is also nearby.
Located in Hamden, the corner-lot property is minutes from Dixwell Avenue, downtown New Haven, Yale, and East Rock Park. A park is also nearby.
Key Highlights
- Two‑family duplex with the first‑floor unit currently rented
- Renovated upper unit available for owner occupancy or a new tenant
- Built in 1929
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,397
Cap Rate
9.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$807,940
$807.9K
Cap Rate 7%
$577,100
$577.1K
Cap Rate 9%
$448,856
$448.9K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$61.9K $25.80/SF
− Vacancy
−$4.2K −$1.75/SF
EGI
$57.7K $24.05/SF
− OpEx
−$17.3K −$7.21/SF
NOI
$40.4K $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 Rate 5%
$807,940
Cap Rate 7%
$577,100
Cap Rate 9%
$448,856
Alternative Uses
Best Use
Multifamily LT 5
$577.1K
$505.0K – $673.3K
NOI $40,397 @ 7.0% cap · market cap 9.20%
Second Best
Apartment 5plus
$537.0K
$469.9K – $626.5K
NOI $37,591 @ 7.0% cap · market cap 8.56%
Theoretical Best
Office A
$772.0K
$675.5K – $900.7K
NOI $54,041 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
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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
$313,000
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Hamden, CT
Properties on Market for Duplexes in Hamden
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - An existing first-floor tenancy complements an upper residence prepared for owner occupancy or a new tenant.
Where is this duplex located?
The property is located at 284 Morse St Hamden, CT.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two‑family duplex with the first‑floor unit currently rented; Renovated upper unit available for owner occupancy or a new tenant; Built in 1929
