9-Unit Apartment
For Sale
$1,450,000
32 Clinton Ave, New Haven, CT 06513
Nine one-bedroom residences in New Haven’s Fair Haven neighborhood, near Yale, downtown, shopping, dining, transit, and major highways.
Property Size5,484 SF
Price / SF$264.41
Days on Market29
Property Features for 32 Clinton Ave
General Information
Standard status
Active
Size
5,484 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
9 x 1BR
Multifamily Units
9
Taxes and HOA fees
Annual Taxes
$18,068
Building Details
Buildings
1
Listing Agency:
Roundtree Realty LLC
(475) 227-4312
Listed By:
Javyn Roundtree · License #0795713
(475) 227-4312
Source:
Exprealty
Added: Jul 11
Changed: Aug 7
Last Checked: Aug 8 at 9:30AM
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 Roundtree Realty LLC
Investment Insights
Based on property information with market context.
Located at 32 Clinton Avenue in New Haven’s Fair Haven neighborhood, this apartment building contains nine one-bedroom units. The configuration provides multiple residential units within a single property and supports rental use across the building.
The property is near downtown New Haven, Yale University, Yale New Haven Hospital, local retailers, restaurants, public transportation, neighborhood parks, and the Quinnipiac River. I-91 and I-95 provide highway access, while nearby employers, educational institutions, and everyday services contribute to the surrounding residential setting.
The property is near downtown New Haven, Yale University, Yale New Haven Hospital, local retailers, restaurants, public transportation, neighborhood parks, and the Quinnipiac River. I-91 and I-95 provide highway access, while nearby employers, educational institutions, and everyday services contribute to the surrounding residential setting.
Key Highlights
- 9‑unit apartment building with nine one‑bedroom units
- Located at 32 Clinton Avenue in New Haven’s Fair Haven neighborhood
- Near Yale University and Yale New Haven Hospital
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
$85,894
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
5.92%
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%
$1,717,880
$1.7M
Cap Rate 7%
$1,227,057
$1.2M
Cap Rate 9%
$954,378
$954.4K
Market Conditions
NOI Build-Up for 5,484 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
$166.5K $30.36/SF
− Vacancy
−$10.3K −$1.88/SF
EGI
$156.2K $28.48/SF
− OpEx
−$70.3K −$12.81/SF
NOI
$85.9K $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%
$1,717,880
Cap Rate 7%
$1,227,057
Cap Rate 9%
$954,378
Alternative Uses
Best Use
Apartment 5plus
$1.23M
$1.07M – $1.43M
NOI $85,894 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,485 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
9
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
977
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Nine one-bedroom residences in New Haven’s Fair Haven neighborhood, near Yale, downtown, shopping, dining, transit, and major highways.
Where is this apartment building located?
The property is located at 32 Clinton Ave New Haven, CT.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 9‑unit apartment building with nine one‑bedroom units; Located at 32 Clinton Avenue in New Haven’s Fair Haven neighborhood; Near Yale University and Yale New Haven Hospital
