Renovated Duplex with Expansion
For Sale
$499,900
357-359 Center St, West Haven, CT 06516
Two-family property with updated building systems and a month-to-month second-floor tenancy.
Property Size2,128 SF
Price / SF$234.92
Days on Market49
Property Features for 357-359 Center St
General Information
Standard status
Active
Size
2,128 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1917
Year Renovated
2013
Buildings
1
Listing Agency:
Real Estate Eight
Listed By:
Deep Gill
(203) 919-2078
Source:
Homesbyshoshana
Added: Aug 28
Changed: Sep 13
Last Checked: Oct 7 at 2:04PM
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 Real Estate Eight
Investment Insights
Based on property information with market context.
Located at 357-359 Center Street in West Haven, this two-family property combines a renovated interior with updated core building systems. Improvements completed in 2013 include the roof, siding, windows, kitchens, flooring, paint, bathrooms, and full HVAC serving both heating and cooling needs.
The second-floor residence is occupied by a month-to-month tenant, while an unfinished third floor offers space that may support expansion of the existing unit or development of another unit, subject to city approvals and permits. Built in 1917 and zoned CBD, the property provides a two-unit configuration with additional unfinished area for future planning.
The second-floor residence is occupied by a month-to-month tenant, while an unfinished third floor offers space that may support expansion of the existing unit or development of another unit, subject to city approvals and permits. Built in 1917 and zoned CBD, the property provides a two-unit configuration with additional unfinished area for future planning.
Key Highlights
- Two‑family duplex at 357‑359 Center Street, West Haven, CT 06516
- 2013 updates include roof, siding, windows, kitchens, flooring, paint, and bathrooms
- Full HVAC system provides heating and cooling
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,818
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,360
$716.4K
Cap Rate 7%
$511,686
$511.7K
Cap Rate 9%
$397,978
$398.0K
Market Conditions
NOI Build-Up for 2,128 SF
Gross rent
$54.9K $25.80/SF
− Vacancy
−$3.7K −$1.75/SF
EGI
$51.2K $24.05/SF
− OpEx
−$15.4K −$7.21/SF
NOI
$35.8K $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 Rate 5%
$716,360
Cap Rate 7%
$511,686
Cap Rate 9%
$397,978
Alternative Uses
Best Use
Multifamily LT 5
$511.7K
$447.7K – $597.0K
NOI $35,818 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$476.1K
$416.6K – $555.5K
NOI $33,330 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$684.5K
$599.0K – $798.6K
NOI $47,917 @ 7.0% cap · market cap 9.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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-family property with updated building systems and a month-to-month second-floor tenancy.
Where is this duplex located?
The property is located at 357-359 Center St West Haven, CT.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑family duplex at 357‑359 Center Street, West Haven, CT 06516; 2013 updates include roof, siding, windows, kitchens, flooring, paint, and bathrooms; Full HVAC system provides heating and cooling
