8-Unit Residential Income
For Sale
$1,600,000
Pending
43 Edwards Street, New Haven, CT 06511
Eight well-maintained apartments include separate gas boiler and electricity metering with coin-op laundry and a large yard.
Property Size8,720 SF
Days on Market54
Property Features for 43 Edwards Street
General Information
Standard status
Pending
Size
8,720 SF
Property subtype
Multi-Family / 5 Family+
Zoning
RM2
Net Operating Income
$119,292
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$21,948
Amenities
coin op laundry
large yard
567FED88E54876ABE0631A01100A425D
Yes
Baseboard, Hot Water
30
Finished, Walk-up
Coin Op Laundry
Coin laundry
Sidewalk, Gutters, Lighting, Stone Wall, Patio
Not Applicable
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Seabury Hill REALTORS
Listed By:
John Hill · License #REB.0795121
(203) 675-3942
Source:
Compass
Added: Jul 14
Changed: Aug 8
Last Checked: Jul 24 at 3:18PM
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 Seabury Hill REALTORS
Investment Insights
Based on property information with market context.
This property is an eight-unit residential income building featuring four one-bedroom apartments and four two-bedroom apartments. Units are described as having high ceilings with natural light, eat-in kitchens, tile baths, and spacious bedrooms.
Utilities are separately metered for gas boilers and electricity, while hot water is common and included in the monthly rent. A coin-operated laundry facility is located in the basement, and the building includes a large yard.
The offering is for sale, and the building is presented as having been carefully maintained by the same owner for an extended period.
Utilities are separately metered for gas boilers and electricity, while hot water is common and included in the monthly rent. A coin-operated laundry facility is located in the basement, and the building includes a large yard.
The offering is for sale, and the building is presented as having been carefully maintained by the same owner for an extended period.
Key Highlights
- 8‑unit apartment building with 4 one‑bedroom and 4 two‑bedroom apartments
- Separately metered gas boilers and electricity for each unit; hot water is common and included in the monthly rent
- Finished, walk‑up attic with attic access (Attic YN: Yes)
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
$136,579
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
8.54%
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%
$2,731,580
$2.7M
Cap Rate 7%
$1,951,129
$2.0M
Cap Rate 9%
$1,517,544
$1.5M
Market Conditions
NOI Build-Up for 8,720 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
$264.7K $30.36/SF
− Vacancy
−$16.4K −$1.88/SF
EGI
$248.3K $28.48/SF
− OpEx
−$111.7K −$12.81/SF
NOI
$136.6K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$2,731,580
Cap Rate 7%
$1,951,129
Cap Rate 9%
$1,517,544
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.28M
NOI $136,579 @ 7.0% cap · market cap 8.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.81M
$2.45M – $3.27M
NOI $196,351 @ 7.0% cap · market cap 12.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,051
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Eight well-maintained apartments include separate gas boiler and electricity metering with coin-op laundry and a large yard.
Where is this apartment building located?
The property is located at 43 Edwards Street New Haven, CT.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: 8‑unit apartment building with 4 one‑bedroom and 4 two‑bedroom apartments; Separately metered gas boilers and electricity for each unit; hot water is common and included in the monthly rent; Finished, walk‑up attic with attic access (Attic YN: Yes)
