Two-Family Duplex With Off-Street
New
For Sale
$330,000
426 Poplar St, New Haven, CT 06513
Two residential units offer three-bedroom layouts, gas heat, and flexible upper-level space.
Property Size1,658 SF
Days on Market2
Property Features for 426 Poplar St
General Information
Standard status
Active
Size
1,658 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Building Size
1,658 SF
Year Built
1900
Listing Agency:
Keller Williams Realty Partners
(203) 307-0033
Listed By:
Nikia Bigard
(203) 307-0033
Source:
Elliman
Added: Aug 10
Changed: Aug 11
Last Checked: Aug 11 at 6:02AM
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 Keller Williams Realty Partners
Investment Insights
Based on property information with market context.
This two-family duplex, built in 1900, includes two units with three bedrooms and one full bathroom each. The first-floor residence is occupied, while the second- and third-floor residence is vacant and includes additional third-floor rooms that can accommodate storage, office, or hobby use. Gas heat and off-street parking are also provided.
The property is located at 426 Poplar St in New Haven, near shops and everyday amenities. Public transportation is within walking distance, and the area records a 76 Walk Score, 54 Bike Score, and 45 Transit Score. Existing conditions allow for updates while preserving the building’s two-unit configuration.
The property is located at 426 Poplar St in New Haven, near shops and everyday amenities. Public transportation is within walking distance, and the area records a 76 Walk Score, 54 Bike Score, and 45 Transit Score. Existing conditions allow for updates while preserving the building’s two-unit configuration.
Key Highlights
- Two units, each with 3 bedrooms and 1 full bath
- Upper residence is vacant and includes additional third‑floor rooms
- First‑floor unit is currently occupied
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
$27,907
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
8.46%
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%
$558,140
$558.1K
Cap Rate 7%
$398,671
$398.7K
Cap Rate 9%
$310,078
$310.1K
Market Conditions
NOI Build-Up for 1,658 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
$42.8K $25.80/SF
− Vacancy
−$2.9K −$1.75/SF
EGI
$39.9K $24.05/SF
− OpEx
−$12.0K −$7.21/SF
NOI
$27.9K $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%
$558,140
Cap Rate 7%
$398,671
Cap Rate 9%
$310,078
Alternative Uses
Best Use
Multifamily LT 5
$398.7K
$348.8K – $465.1K
NOI $27,907 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$371.0K
$324.6K – $432.8K
NOI $25,969 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$533.3K
$466.7K – $622.2K
NOI $37,334 @ 7.0% cap · market cap 11.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,318
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
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 residential units offer three-bedroom layouts, gas heat, and flexible upper-level space.
Where is this duplex located?
The property is located at 426 Poplar St New Haven, CT.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two units, each with 3 bedrooms and 1 full bath; Upper residence is vacant and includes additional third‑floor rooms; First‑floor unit is currently occupied
