Duplex with Detached
For Sale
$569,000
36 Central Ave, Hamden, CT 06517
Two separate residences support an owner-occupant arrangement or continued rental use.
Property Size2,501 SF
Price / SF$227.51
Days on Market63
Property Features for 36 Central Ave
General Information
Standard status
Active
Size
2,501 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
fenced-in backyard
hardwood floors
separate entrances
Building Details
Year Built
1920
Listing Agency:
Houlihan Lawrence WD
(203) 641-7072
Listed By:
Frank J. D'Ostilio (203) 641-7072 (203) 701-4848 · License #REB.0789479
Source:
Sunsetcreekrealty
Added: Jun 29
Changed: Aug 30
Last Checked: Aug 30 at 6:53AM
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 Houlihan Lawrence WD
Investment Insights
Based on property information with market context.
This 1920-built duplex contains two distinct residences with separate entrances. The first-floor unit is occupied by a tenant and includes three bedrooms and one full bath. Upstairs, the second residence offers three bedrooms and two full baths. Hardwood flooring is featured throughout the property, and a new roof adds a recent building improvement.
Outdoor and site features include a fenced backyard, off-street parking, and a detached garage sized for two vehicles. The Hamden property is positioned near Quinnipiac University, shopping, restaurants, and major highways, providing access to established area amenities and transportation routes.
Outdoor and site features include a fenced backyard, off-street parking, and a detached garage sized for two vehicles. The Hamden property is positioned near Quinnipiac University, shopping, restaurants, and major highways, providing access to established area amenities and transportation routes.
Key Highlights
- Two‑family layout with separate entrances
- First‑floor unit: tenant occupied, 3 bedrooms, 1 full bath
- Second‑floor unit: 3 bedrooms and 2 full 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
$42,097
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
7.40%
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%
$841,940
$841.9K
Cap Rate 7%
$601,386
$601.4K
Cap Rate 9%
$467,744
$467.7K
Market Conditions
NOI Build-Up for 2,501 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
$64.5K $25.80/SF
− Vacancy
−$4.4K −$1.75/SF
EGI
$60.1K $24.05/SF
− OpEx
−$18.0K −$7.21/SF
NOI
$42.1K $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%
$841,940
Cap Rate 7%
$601,386
Cap Rate 9%
$467,744
Alternative Uses
Best Use
Multifamily LT 5
$601.4K
$526.2K – $701.6K
NOI $42,097 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$559.6K
$489.7K – $652.9K
NOI $39,172 @ 7.0% cap · market cap 6.88%
Theoretical Best
Office A
$804.5K
$704.0K – $938.6K
NOI $56,316 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 06517, CT
14,954
Population
6,875
Households
2.2
Avg Household Size
45
Median Age
52%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
2,991
Density / Sq Mi
$97,154
Median Household Income
$58,025
Median Earnings
$1,351
Median Rent
$313,000
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 support an owner-occupant arrangement or continued rental use.
Where is this duplex located?
The property is located at 36 Central Ave Hamden, CT.
What is the asking price?
The asking price for this property is $569,000.
What are key features of this property?
This property features: Two‑family layout with separate entrances; First‑floor unit: tenant occupied, 3 bedrooms, 1 full bath; Second‑floor unit: 3 bedrooms and 2 full baths
