Two-Family Home with Approved
314 Lenox Street New Haven, CT 06513
314 Lenox Street, New Haven, CT, 06513
$459,777
For Sale
$459,777
Updated two-family home with city-approved plans to convert the attic into a legal one-bedroom unit.
Property Size2,296 SF
Price / SF$200.25
Days on Market253
Property Features for 314 Lenox Street
General Information
- Standard status
- Active
- Size
- 2,296 SF
- Property subtype
- Multi-Family / 2 Family
Building Details
- Year Built
- 1900
Listing agency
Berkshire Hathaway NE Prop.
(203) 809-2654
Listed by
Elien Olmos · License #RES.0795672
(203) 809-2654
Source
Compass
Added: Nov 11, 2025 Updated: Jul 21 at 6:08AM Checked: Jul 21 at 6:08AM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
This updated two-family home is being offered with approvals and materials in place to convert to a legal three-family dwelling. The City has already approved the conversion, and the permits and floor layouts are available to transform the spacious third-level attic into a one-bedroom apartment.
The remaining two units have been remodeled within the last 1.5 years, with new windows installed on both floors. Interiors feature quartz countertops, brand-new cabinetry, and stainless-steel appliances in each unit.
The property is sold as-is and will require a new roof. There is also potential to convert the garage into an additional dwelling unit, although proper permits are required.
The remaining two units have been remodeled within the last 1.5 years, with new windows installed on both floors. Interiors feature quartz countertops, brand-new cabinetry, and stainless-steel appliances in each unit.
The property is sold as-is and will require a new roof. There is also potential to convert the garage into an additional dwelling unit, although proper permits are required.
Key Highlights
- City‑approved plans and permits to convert the spacious third‑level attic into a legal one‑bedroom apartment for a 3‑family dwelling
- Two‑family home with unfinished, walk‑up attic and 12 total rooms; Heat type: hot air
- Two existing units remodeled within the last 1.5 years, with new windows installed on both floors
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 | $59.2k | $25.80 |
| − Vacancy | −$4.0k | −$1.75 |
| EGI | $55.2k | $24.05 |
| − OpEx | −$16.6k | −$7.21 |
| NOI | $38.6k | $16.83 |
2,296 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$552.1K
$483.1K – $644.1K
NOI $38,646 @ 7.0% cap · market cap 8.41%
Second Best
Apartment 5plus
$513.7K
$449.5K – $599.4K
NOI $35,962 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$738.6K
$646.3K – $861.7K
NOI $51,700 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Updated two-family home with city-approved plans to convert the attic into a legal one-bedroom unit.
Where is this triplex located?
The property is located at 314 Lenox Street New Haven, CT.
What is the asking price?
The asking price for this property is $459,777.
What are key features of this property?
This property features: City‑approved plans and permits to convert the spacious third‑level attic into a legal one‑bedroom apartment for a 3‑family dwelling; Two‑family home with unfinished, walk‑up attic and 12 total rooms; Heat type: hot air; Two existing units remodeled within the last 1.5 years, with new windows installed on both floors
