Duplex With Off-Street
New
For Sale
$330,000
426 Poplar Street, New Haven, CT 06513
MULTI_FAMILY - New Haven, CT
Property Size1,658 SF
Lot Size0.23 Acres
Price / SF$199.03
Days on Market4
Property Features for 426 Poplar Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 5, Bedroom 3, Bedroom 1, Basement
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
From Grand to Poplar. From Ferry to Pine to Poplar.
Subdivision
Fair Haven
Standard status
Active
Size
1,658 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
5318
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
Keller Williams Realty Prtnrs.
(203) 459-4663
Listed By:
Nikia Bigard
(203) 824-2025
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 8:06PM
MLS# 24197914
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 duplex contains 1,658 square feet on a 0.23-acre parcel and was built in 1900. The property includes two residential units, each with a full bathroom, along with additional third-floor rooms that can serve as storage, office, or hobby space. The first-floor unit is occupied, while the upper unit is available for occupancy. Gas heat and off-street parking add practical operating features.
The property is served by public water and public sewer and is located near shops and everyday amenities in New Haven. Public transportation is within walking distance. RM2 zoning is identified for the parcel.
The property is served by public water and public sewer and is located near shops and everyday amenities in New Haven. Public transportation is within walking distance. RM2 zoning is identified for the parcel.
Key Highlights
- Duplex with 1,658 square feet on a 0.23‑acre parcel
- Two residential units, each with 1 full bath
- First‑floor unit occupied; upper unit ready for occupancy
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-unit property with gas heat, public utilities, and an upper unit ready for occupancy.
Where is this duplex located?
The property is located at 426 Poplar Street 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: Duplex with 1,658 square feet on a 0.23‑acre parcel; Two residential units, each with 1 full bath; First‑floor unit occupied; upper unit ready for occupancy
