Multifamily Property with
For Sale
$799,900
332 Howard Avenue, New Haven, CT 06519
Residential income property with multiple units, off-street parking, and renovation needs.
Property Size1,900 SF
Lot Size0.16 Acres
Price / SF$178.39
Days on Market8
Property Features for 332 Howard Avenue
General Information
Standard status
Active
Size
1,900 SF
Total Parking Spaces
8
Lot size
0.16 Acres
Property subtype
Commercial
Property Condition
Severity
Repairs Needed
Evidence
may require renovation
Building Details
Building Size
1,900 SF
Year Built
1900
Listing Agency:
Alpha Capital Realty, LLC
Listed By:
Anthony DeLorenzo · License #846136
(203) 814-7387
Source:
Iverty
Added: Sep 3
Changed: Sep 9
Last Checked: Sep 9 at 3:04PM
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 Alpha Capital Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1900, this approximately 4,484-square-foot multifamily property includes multiple residential units and sits on approximately 0.16 acres. The property provides approximately 8 off-street parking spaces and is being offered in its current condition, with renovation potentially required. Buyers should evaluate the unit configuration, permitted use, zoning, utilities, physical condition, and rental-income prospects through their own due diligence.
The property is located near downtown New Haven, major highways, schools, hospitals, local amenities, and area employment centers. Its residential income configuration and existing parking support evaluation by buyers considering an as-is multifamily acquisition or a renovation-focused project.
The property is located near downtown New Haven, major highways, schools, hospitals, local amenities, and area employment centers. Its residential income configuration and existing parking support evaluation by buyers considering an as-is multifamily acquisition or a renovation-focused project.
Key Highlights
- Approximately 4,484‑square‑foot multifamily property on approximately 0.16 acres
- Multiple residential units
- Approximately 8 off‑street parking spaces
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
$70,232
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
8.78%
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%
$1,404,640
$1.4M
Cap Rate 7%
$1,003,314
$1.0M
Cap Rate 9%
$780,356
$780.4K
Market Conditions
NOI Build-Up for 4,484 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
$136.1K $30.36/SF
− Vacancy
−$8.4K −$1.88/SF
EGI
$127.7K $28.48/SF
− OpEx
−$57.5K −$12.81/SF
NOI
$70.2K $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%
$1,404,640
Cap Rate 7%
$1,003,314
Cap Rate 9%
$780,356
Alternative Uses
Best Use
Apartment 5plus
$1.00M
$877.9K – $1.17M
NOI $70,232 @ 7.0% cap · market cap 8.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,967 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,104
Businesses Nearby
Explore this area
Business Placement
Demographics for 06519, CT
15,450
Population
6,424
Households
2.4
Avg Household Size
33
Median Age
20%
College-Educated
77%
High-School Grad
1.8 sq mi
ZIP Area
8,583
Density / Sq Mi
$44,394
Median Household Income
$29,745
Median Earnings
$1,356
Median Rent
$247,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property with multiple units, off-street parking, and renovation needs.
Where is this multifamily property located?
The property is located at 332 Howard Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Approximately 4,484‑square‑foot multifamily property on approximately 0.16 acres; Multiple residential units; Approximately 8 off‑street parking spaces
