Six-Bedroom Duplex with Detached
New
For Sale
$479,900
323 W Division Street, New Haven, CT 06511
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size2,268 SF
Lot Size0.08 Acres
Price / SF$211.60
Days on Market3
Property Features for 323 W Division Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 1, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bedroom 6, Basement, Bedroom 4, Bathroom 3
Parking
5
Basement
Full, Unfinished
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS friendly
Standard status
Active
Size
2,268 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
6954
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Amenities
laundry hookups in the basement
fenced-in yard
detached garage
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 268-1118
Listed By:
Kathy Chiluisa
(203) 395-0715
Added: Sep 24
Last Checked: Sep 26 at 11:06AM
MLS# 24209560
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,268-square-foot duplex, built in 1900, is arranged as two units. The first-floor residence has two bedrooms, a living room, an eat-in kitchen and a full bathroom. The upper residence spans the second and third floors, with four bedrooms and two full bathrooms. Kitchen cabinets and appliances have been updated, and the roof is newer. Window-unit cooling, basement laundry hookups and a detached garage are also included.
The parcel covers 0.08 acres and has a fenced yard. Public water and public sewer serve the property. Zoning is RM2.
The parcel covers 0.08 acres and has a fenced yard. Public water and public sewer serve the property. Zoning is RM2.
Key Highlights
- Two‑family property with 2,268 square feet across three floors
- First‑floor unit: two bedrooms, living room, eat‑in kitchen and full bathroom
- Upper unit spans the second and third floors, with four bedrooms and two full bathrooms
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
$38,175
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
7.95%
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%
$763,500
$763.5K
Cap Rate 7%
$545,357
$545.4K
Cap Rate 9%
$424,167
$424.2K
Market Conditions
NOI Build-Up for 2,268 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
$58.5K $25.80/SF
− Vacancy
−$4.0K −$1.75/SF
EGI
$54.5K $24.05/SF
− OpEx
−$16.4K −$7.21/SF
NOI
$38.2K $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 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%
$763,500
Cap Rate 7%
$545,357
Cap Rate 9%
$424,167
Alternative Uses
Best Use
Multifamily LT 5
$545.4K
$477.2K – $636.3K
NOI $38,175 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$507.5K
$444.0K – $592.1K
NOI $35,523 @ 7.0% cap · market cap 7.40%
Theoretical Best
Office A
$729.6K
$638.4K – $851.2K
NOI $51,069 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
936
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Duplex - RM2-zoned property features separate living arrangements across three floors and a fenced yard.
Where is this duplex located?
The property is located at 323 W Division Street New Haven, CT.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: Two‑family property with 2,268 square feet across three floors; First‑floor unit: two bedrooms, living room, eat‑in kitchen and full bathroom; Upper unit spans the second and third floors, with four bedrooms and two full bathrooms
