Two-Family Residential Income
For Sale
$575,000
Pending
4 Jefferson Street, New Haven, CT 06511
Well-maintained two-family home with two separate units, each offering in-unit laundry and dishwashers, plus off-street parking.
Property Size2,380 SF
Days on Market102
Property Features for 4 Jefferson Street
General Information
Standard status
Pending
Size
2,380 SF
Property subtype
Multi-Family / 2 Family
Zoning
RM2
Taxes and HOA fees
Annual Taxes
$11,297
Amenities
Yes
Hot Water
9
Ceiling Fans, Window Unit
1
Walk-up
Basement Hook-Up(s), Hook-Up In Unit 2
#1 in basement- #2 in unit
Porch, Gutters, Lighting, Patio
Not Applicable
Building Details
Year Built
1890
Listing Agency:
Coldwell Banker Realty
(860) 385-6315
Listed By:
Heike Severine · License #RES.0800320
(860) 385-6315
Source:
Compass
Added: May 13
Changed: Aug 7
Last Checked: Jul 24 at 2:37PM
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.
This well-maintained two-family home offers flexible residential income or owner-occupied living with separate units. The owner’s unit features two bedrooms, hardwood floors, a fireplace, and an updated eat-in kitchen with restored cabinetry and quartz countertops. The second-floor apartment has been refreshed with updated flooring, renovated ceilings, modern lighting, and an upgraded bath. Both units include separate laundry and dishwashers, and the property has newer boilers and updated hot water heaters.
The home also includes a private patio with perennial gardens and a detached garage with oversized studio/workshop space that can support a home office, gym, artist studio, or additional storage. Additional improvements include a newer roof, walk-up attic, and full basement. Natural gas heat and public utilities are in place, along with off-street parking.
Additional residential features include separate living spaces for both floors, full basement support, and an attached-without-adjacent configuration that supports practical day-to-day use for either investors or owner-occupants.
The home also includes a private patio with perennial gardens and a detached garage with oversized studio/workshop space that can support a home office, gym, artist studio, or additional storage. Additional improvements include a newer roof, walk-up attic, and full basement. Natural gas heat and public utilities are in place, along with off-street parking.
Additional residential features include separate living spaces for both floors, full basement support, and an attached-without-adjacent configuration that supports practical day-to-day use for either investors or owner-occupants.
Key Highlights
- Two‑family home in historic Wooster Square overlooking Lenzi Park
- 9 total rooms; each unit includes separate in‑unit laundry and dishwashers
- 1 fireplace; walk‑up attic; full basement with basement hook‑ups for laundry
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
$40,060
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
6.97%
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%
$801,200
$801.2K
Cap Rate 7%
$572,286
$572.3K
Cap Rate 9%
$445,111
$445.1K
Market Conditions
NOI Build-Up for 2,380 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
$61.4K $25.80/SF
− Vacancy
−$4.2K −$1.75/SF
EGI
$57.2K $24.05/SF
− OpEx
−$17.2K −$7.21/SF
NOI
$40.1K $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%
$801,200
Cap Rate 7%
$572,286
Cap Rate 9%
$445,111
Alternative Uses
Best Use
Multifamily LT 5
$572.3K
$500.8K – $667.7K
NOI $40,060 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$532.5K
$466.0K – $621.3K
NOI $37,277 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$765.6K
$669.9K – $893.2K
NOI $53,591 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,842
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
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 - Well-maintained two-family home with two separate units, each offering in-unit laundry and dishwashers, plus off-street parking.
Where is this duplex located?
The property is located at 4 Jefferson Street New Haven, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑family home in historic Wooster Square overlooking Lenzi Park; 9 total rooms; each unit includes separate in‑unit laundry and dishwashers; 1 fireplace; walk‑up attic; full basement with basement hook‑ups for laundry
