Duplex with Front
For Sale
$479,000
327 Center Street, West Haven, CT 06516
Two separate residences offer updated finishes, flexible layouts, and individually metered utilities.
Property Size2,683 SF
Price / SF$178.53
Days on Market190
Property Features for 327 Center Street
General Information
Standard status
Active
Size
2,683 SF
Property subtype
Multi-Family / 2 Family
Zoning
CBD
Units
Unit Mix
1 x 3BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,953
Amenities
front decks
backyard
Yes
Hot Water
12
Walk-up
All Units Have Hook-Ups
Not Applicable
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Real Estate Two
(203) 522-2165
Listed By:
Sandra Ramalhete · License #RES.0799488
(203) 522-2165
Source:
Compass
Added: Feb 21
Changed: Aug 29
Last Checked: Aug 29 at 10:58PM
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 Real Estate Two
Investment Insights
Based on property information with market context.
This two-family property contains distinct living spaces with separate utilities. The first residence has three bedrooms, one full bath, hardwood flooring, and an eat-in kitchen following a recent update. The upper residence occupies the second and third floors and includes four bedrooms and two baths. Both units are described as move-in-ready and feature separate utility hookups.
Exterior amenities include two front decks and a level backyard. A public parking area with an electric-vehicle charging station is located across the street. The property has a documented history of use as college housing and is situated near a university, public amenities, and transit. Built in 1900 and zoned CBD, the duplex offers a two-unit configuration for residential occupancy or rental use.
Exterior amenities include two front decks and a level backyard. A public parking area with an electric-vehicle charging station is located across the street. The property has a documented history of use as college housing and is situated near a university, public amenities, and transit. Built in 1900 and zoned CBD, the duplex offers a two-unit configuration for residential occupancy or rental use.
Key Highlights
- Two separate residential units with individual utilities
- Unit 1: 3 bedrooms, 1 full bath, hardwood floors, and eat‑in kitchen
- Unit 2 spans the 2nd and 3rd floors with 4 bedrooms and 2 baths
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
$42,023
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
8.77%
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%
$840,460
$840.5K
Cap Rate 7%
$600,329
$600.3K
Cap Rate 9%
$466,922
$466.9K
Market Conditions
NOI Build-Up for 2,683 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
$81.5K $30.36/SF
− Vacancy
−$5.1K −$1.88/SF
EGI
$76.4K $28.48/SF
− OpEx
−$34.4K −$12.81/SF
NOI
$42.0K $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%
$840,460
Cap Rate 7%
$600,329
Cap Rate 9%
$466,922
Alternative Uses
Best Use
Multifamily LT 5
$645.1K
$564.5K – $752.7K
NOI $45,160 @ 7.0% cap · market cap 9.43%
Second Best
Apartment 5plus
$600.3K
$525.3K – $700.4K
NOI $42,023 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$863.1K
$755.2K – $1.01M
NOI $60,414 @ 7.0% cap · market cap 12.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
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?
Duplex - Two separate residences offer updated finishes, flexible layouts, and individually metered utilities.
Where is this duplex located?
The property is located at 327 Center Street West Haven, CT.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two separate residential units with individual utilities; Unit 1: 3 bedrooms, 1 full bath, hardwood floors, and eat‑in kitchen; Unit 2 spans the 2nd and 3rd floors with 4 bedrooms and 2 baths
