Updated Four-Unit
New
For Sale
$1,200,000
341 Saint John St, New Haven, CT 06511
Furnished units combine modern updates with exposed brick and preserved architectural character.
Property Size2,396 SF
Days on Market7
Property Features for 341 Saint John St
General Information
Standard status
Active
Size
2,396 SF
Property subtype
Multi Family
Additional Details
Furnished
Yes
Public Transit
Yes
Multifamily Units
4
Building Details
Building Size
2,396 SF
Year Built
1850
Listing Agency:
(203) 444-9636
Listed By:
Andrew Roach
(203) 444-9636
Source:
Elliman
Added: Aug 14
Changed: Aug 17
Last Checked: Aug 20 at 12:04PM
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 Andrew Roach
Investment Insights
Based on property information with market context.
Built in 1850, this four-unit quadplex has been renovated with a blend of updated interiors and retained architectural character. Exposed brick and other original details remain, while all four units are furnished. Select units have been used for Airbnb rentals, providing an existing short-term rental history alongside the option to pursue traditional leasing or a mixed rental strategy.
The property is located at 341 Saint John St in New Haven, near Wooster Square and Yale University. Downtown amenities, dining, cafes, and parks are also nearby. Walk Score is 92, BikeScore is 98, and TransitScore is 76, reflecting strong access to surrounding destinations by foot, bicycle, and public transportation.
The property is located at 341 Saint John St in New Haven, near Wooster Square and Yale University. Downtown amenities, dining, cafes, and parks are also nearby. Walk Score is 92, BikeScore is 98, and TransitScore is 76, reflecting strong access to surrounding destinations by foot, bicycle, and public transportation.
Key Highlights
- Four‑unit quadplex built in 1850
- All four units are fully furnished
- Renovated interiors retain exposed brick and original architectural details
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
$40,329
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
3.36%
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%
$806,580
$806.6K
Cap Rate 7%
$576,129
$576.1K
Cap Rate 9%
$448,100
$448.1K
Market Conditions
NOI Build-Up for 2,396 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
$61.8K $25.80/SF
− Vacancy
−$4.2K −$1.75/SF
EGI
$57.6K $24.05/SF
− OpEx
−$17.3K −$7.21/SF
NOI
$40.3K $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%
$806,580
Cap Rate 7%
$576,129
Cap Rate 9%
$448,100
Alternative Uses
Best Use
Multifamily LT 5
$576.1K
$504.1K – $672.2K
NOI $40,329 @ 7.0% cap · market cap 3.36%
Second Best
Apartment 5plus
$536.1K
$469.1K – $625.5K
NOI $37,528 @ 7.0% cap · market cap 3.13%
Theoretical Best
Office A
$770.7K
$674.4K – $899.2K
NOI $53,951 @ 7.0% cap · market cap 4.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
5,130
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Furnished units combine modern updates with exposed brick and preserved architectural character.
Where is this quadplex located?
The property is located at 341 Saint John St New Haven, CT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1850; All four units are fully furnished; Renovated interiors retain exposed brick and original architectural details
