Two-Family Home with Inground
New
For Sale
$985,000
Pending
356 Humphrey St, New Haven, CT 06511
Legal duplex offering flexible living arrangements, multiple bedrooms, and a separate studio-style apartment.
Property Size3,772 SF
Days on Market3
Property Features for 356 Humphrey St
General Information
Standard status
Pending
Size
3,772 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
in need of a new buyers vision and updates
Additional Details
Multifamily Units
2
Amenities
inground pool
Building Details
Building Size
3,772 SF
Year Built
1900
Buildings
1
Listing Agency:
Press/Cuozzo Realtors
Listed By:
John Cuozzo · License #REB.0152492
(203) 288-1900
Source:
Elliman
Added: Sep 11
Last Checked: Sep 13 at 8:06AM
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 Press/Cuozzo Realtors
Investment Insights
Based on property information with market context.
Built in 1900, this legal duplex combines substantial interior space with a flexible existing layout. The first floor includes living, dining, and family rooms, an eat-in kitchen, pantry, and full bath. Upstairs are three bedrooms, two full bathrooms, and a two-room studio-style apartment that could be incorporated into a larger primary suite. The third floor adds three rooms, a half bath, and unfinished attic areas.
Property features include original woodwork, a prominent staircase, tall first-floor ceilings, replacement Thermopane windows, and a roof installed in 2020. The rear includes a 32-by-16-foot inground pool with a new liner. Located at 356 Humphrey St in New Haven, the property offers walkable access to downtown, campus, and Orange Street, with a Walk Score of 89, Bike Score of 87, and Transit Score of 44.
Property features include original woodwork, a prominent staircase, tall first-floor ceilings, replacement Thermopane windows, and a roof installed in 2020. The rear includes a 32-by-16-foot inground pool with a new liner. Located at 356 Humphrey St in New Haven, the property offers walkable access to downtown, campus, and Orange Street, with a Walk Score of 89, Bike Score of 87, and Transit Score of 44.
Key Highlights
- Legal two‑family property currently configured with a large main residence and two‑room studio‑style apartment
- 32‑by‑16‑foot inground pool with new liner
- Roof installed in 2020
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
$63,490
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
6.45%
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%
$1,269,800
$1.3M
Cap Rate 7%
$907,000
$907.0K
Cap Rate 9%
$705,444
$705.4K
Market Conditions
NOI Build-Up for 3,772 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
$97.3K $25.80/SF
− Vacancy
−$6.6K −$1.75/SF
EGI
$90.7K $24.05/SF
− OpEx
−$27.2K −$7.21/SF
NOI
$63.5K $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%
$1,269,800
Cap Rate 7%
$907,000
Cap Rate 9%
$705,444
Alternative Uses
Best Use
Multifamily LT 5
$907.0K
$793.6K – $1.06M
NOI $63,490 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$844.0K
$738.5K – $984.7K
NOI $59,080 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $84,935 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,599
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
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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?
Duplex - Legal duplex offering flexible living arrangements, multiple bedrooms, and a separate studio-style apartment.
Where is this duplex located?
The property is located at 356 Humphrey St New Haven, CT.
What is the asking price?
The asking price for this property is $985,000.
What are key features of this property?
This property features: Legal two‑family property currently configured with a large main residence and two‑room studio‑style apartment; 32‑by‑16‑foot inground pool with new liner; Roof installed in 2020
