Two-Unit Duplex with Detached
For Sale
$394,900
Pending
37 Dix Street, Hamden, CT 06514
Each residence includes four rooms, two bedrooms, and one bathroom, with a separate garage supporting additional utility.
Property Size1,512 SF
Days on Market128
Property Features for 37 Dix Street
General Information
Standard status
Pending
Size
1,512 SF
Total Parking Spaces
2
Property subtype
2 Family
Property Condition
Severity
Repairs Needed
Evidence
in need up updating
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1930
Listing Agency:
Coldwell Banker Realty
(203) 710-2548
Listed By:
Buddy Degennaro
(203) 710-2548
Source:
Lockandkeyre
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 9:28PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two residential units within a 1,512-square-foot property. Each unit offers four rooms, two bedrooms, and one bathroom. The residence requires updating, while the structure is described as solid.
A detached oversized two-car garage adds approximately 1172 square feet of space, including one bay that extends 62 feet in depth. The property is located at 37 Dix Street in Hamden, with access to SCSU, Yale, Downtown New Haven, I-95, and I-91.
A detached oversized two-car garage adds approximately 1172 square feet of space, including one bay that extends 62 feet in depth. The property is located at 37 Dix Street in Hamden, with access to SCSU, Yale, Downtown New Haven, I-95, and I-91.
Key Highlights
- Two‑unit duplex with 1,512 square feet of property size
- Each unit has 4 rooms, 2 bedrooms, and 1 bath
- Detached oversized 2‑car garage with approximately 1172 Square Feet
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
$25,450
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
6.44%
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%
$509,000
$509.0K
Cap Rate 7%
$363,571
$363.6K
Cap Rate 9%
$282,778
$282.8K
Market Conditions
NOI Build-Up for 1,512 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
$39.0K $25.80/SF
− Vacancy
−$2.7K −$1.75/SF
EGI
$36.4K $24.05/SF
− OpEx
−$10.9K −$7.21/SF
NOI
$25.4K $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%
$509,000
Cap Rate 7%
$363,571
Cap Rate 9%
$282,778
Alternative Uses
Best Use
Multifamily LT 5
$363.6K
$318.1K – $424.2K
NOI $25,450 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$338.3K
$296.0K – $394.7K
NOI $23,682 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$486.4K
$425.6K – $567.4K
NOI $34,046 @ 7.0% cap · market cap 8.62%
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
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 06514, CT
26,613
Population
11,388
Households
2.3
Avg Household Size
40
Median Age
42%
College-Educated
92%
High-School Grad
11.1 sq mi
ZIP Area
2,398
Density / Sq Mi
$85,227
Median Household Income
$46,594
Median Earnings
$1,633
Median Rent
$250,300
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 - Each residence includes four rooms, two bedrooms, and one bathroom, with a separate garage supporting additional utility.
Where is this duplex located?
The property is located at 37 Dix Street Hamden, CT.
What is the asking price?
The asking price for this property is $394,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,512 square feet of property size; Each unit has 4 rooms, 2 bedrooms, and 1 bath; Detached oversized 2‑car garage with approximately 1172 Square Feet
