Six-Unit Apartment
For Sale
$1,475,000
317 Willow St, New Haven, CT 06511
Occupied multifamily property with renovated unit, historic character, private utilities, laundry, garage, and off-street parking.
Property Size3,286 SF
Price / SF$448.87
Days on Market48
Property Features for 317 Willow St
General Information
Standard status
Active
Size
3,286 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
5 x 1BR, 1 x 2BR
Multifamily Units
6
Amenities
front porch
in-unit laundry
dishwashers
fireplaces
garage
off-street parking
separate gas heating and hot water
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Seabury Hill REALTORS
(203) 562-1220
Listed By:
John Hill · License #REB.0795121
Source:
Homesbyshoshana
Added: Jul 14
Changed: Aug 30
Last Checked: Aug 30 at 5:30AM
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 Seabury Hill REALTORS
Investment Insights
Based on property information with market context.
Built in 1910, this 3,286-square-foot apartment property contains six residences: five one-bedroom units and one renovated two-bedroom apartment. The building retains hardwood flooring, high ceilings, abundant natural light, and a front porch. Each apartment has separate gas heat and hot water; five units include in-unit laundry, while select apartments also offer dishwashers and fireplaces.
The property is fully occupied, with tenants holding leases through summer 2026. On-site features include a two-car garage and additional off-street parking. The building is located on Willow St in New Haven’s East Rock area, near Worthington Hooker school, gourmet markets, restaurants, and ER Park.
The property is fully occupied, with tenants holding leases through summer 2026. On-site features include a two-car garage and additional off-street parking. The building is located on Willow St in New Haven’s East Rock area, near Worthington Hooker school, gourmet markets, restaurants, and ER Park.
Key Highlights
- Six‑unit apartment building with five one‑bedroom units and one renovated two‑bedroom unit
- 3,286 SF building constructed in 1910
- Fully occupied with leases extending through summer 2026
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
$51,468
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
3.49%
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%
$1,029,360
$1.0M
Cap Rate 7%
$735,257
$735.3K
Cap Rate 9%
$571,867
$571.9K
Market Conditions
NOI Build-Up for 3,286 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
$99.8K $30.36/SF
− Vacancy
−$6.2K −$1.88/SF
EGI
$93.6K $28.48/SF
− OpEx
−$42.1K −$12.81/SF
NOI
$51.5K $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 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%
$1,029,360
Cap Rate 7%
$735,257
Cap Rate 9%
$571,867
Alternative Uses
Best Use
Apartment 5plus
$735.3K
$643.4K – $857.8K
NOI $51,468 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$924.9K – $1.23M
NOI $73,992 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
955
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Occupied multifamily property with renovated unit, historic character, private utilities, laundry, garage, and off-street parking.
Where is this apartment building located?
The property is located at 317 Willow St New Haven, CT.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: Six‑unit apartment building with five one‑bedroom units and one renovated two‑bedroom unit; 3,286 SF building constructed in 1910; Fully occupied with leases extending through summer 2026
