Two-Unit Home with Detached
For Sale
Under Contract
$569,000
36 Central Avenue, Hamden, CT 06517
Multi-Family For Sale, Units on different Floors, Hamden, CT
Property Size2,501 SF
Lot Size0.17 Acres
Price / SF$227.51
Days on Market48
Property Features for 36 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 5, Bedroom 1, Bathroom 1, Basement, Bathroom 3, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 3
Patio and Porch features
Patio
Exterior features
Porch,Patio
Basement
Full, Unfinished
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Hamden
Directions
Use GPS
Subdivision
Whitneyville
Standard status
Active Under Contract
Size
2,501 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
15787
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
fenced-in backyard
hardwood floors
separate entrances
off-street parking
two-car detached garage
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
Houlihan Lawrence WD
(203) 701-4848
Listed By:
Frank D'Ostilio · License #REB.0789479
(203) 641-7072
Added: Jul 10
Changed: Aug 26
Last Checked: Aug 26 at 4:06PM
MLS# 24187630
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,501-square-foot duplex, built in 1920, contains two residences arranged on separate floors. The first-floor unit is tenant occupied and includes three bedrooms and one full bathroom. Upstairs, the second unit offers three bedrooms and two full bathrooms. Both apartments have separate entrances, and hardwood flooring is among the interior features. A new roof, fenced backyard, patio, porch, off-street parking, and a detached two-car garage add practical utility.
The property is in Hamden near Quinnipiac University, shopping, restaurants, and major highways. Public water and public sewer serve the property, which is zoned R4 on a 0.17-acre lot.
The property is in Hamden near Quinnipiac University, shopping, restaurants, and major highways. Public water and public sewer serve the property, which is zoned R4 on a 0.17-acre lot.
Key Highlights
- Two‑unit duplex with 2,501 square feet of property size
- First‑floor unit is tenant occupied with 3 bedrooms and 1 full bath
- Second‑floor unit includes 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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer flexible owner-occupant or rental use with private entrances and outdoor space.
Where is this duplex located?
The property is located at 36 Central Avenue 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‑unit duplex with 2,501 square feet of property size; First‑floor unit is tenant occupied with 3 bedrooms and 1 full bath; Second‑floor unit includes 3 bedrooms and 2 full baths
