Turn-Key Two-Family
431 Greenwich Avenue New Haven, CT 06519
For Sale
$399,000
Well-maintained two-family property with a renovated second-floor unit and tenant-paid utilities.
Property Size2,233 SF
Price / SF$178.68
Days on Market86
Property Features for 431 Greenwich Avenue
General Information
- Standard status
- Active
- Size
- 2,233 SF
- Property subtype
- 2 Family
Building Details
- Year Built
- 1910
Listing Agency:
Century 21 AllPoints Realty
(860) 729-4176
Listed By:
Chantal Lallier · License #RES.0824820
(860) 729-4176
Source:
Lockandkeyre
Added: Apr 29
Changed: Jul 23
Last Checked: Jul 23 at 8:09AM
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 Century 21 AllPoints Realty
Investment Insights
Based on property information with market context.
This well-maintained two-family residence offers one 3-bedroom unit and one 4-bedroom unit. The second-floor unit has been fully renovated and features oak kitchen cabinetry, vinyl plank flooring throughout, and an updated bathroom with marble-look tile, a refinished tub, and a new vanity. Additional improvements include new lighting fixtures, new appliances, and fresh paint throughout. The first-floor unit provides a solid layout and space with opportunity for value-add improvements.
Located in the Hill neighborhood of New Haven, the property is just minutes from downtown New Haven, Yale New Haven Hospital, Union Station New Haven, and major highways. Shopping, dining, and public transportation are also nearby, supporting convenient access for residents and commuters.
Tenants pay their own utilities, which can help support operating flexibility for the property.
Located in the Hill neighborhood of New Haven, the property is just minutes from downtown New Haven, Yale New Haven Hospital, Union Station New Haven, and major highways. Shopping, dining, and public transportation are also nearby, supporting convenient access for residents and commuters.
Tenants pay their own utilities, which can help support operating flexibility for the property.
Key Highlights
- Well‑maintained 2‑family built in 1910 in New Haven’s Hill neighborhood
- Unit mix: one 3‑bedroom unit and one 4‑bedroom unit
- Second‑floor unit fully renovated with oak kitchen cabinetry, vinyl plank flooring, and an updated bath
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.8k | $30.36 |
| − Vacancy | −$4.2k | −$1.88 |
| EGI | $63.6k | $28.48 |
| − OpEx | −$28.6k | −$12.81 |
| NOI | $35.0k | $15.66 |
2,233 SF · lease $30.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$536.9K
$469.8K – $626.4K
NOI $37,586 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$499.6K
$437.2K – $582.9K
NOI $34,975 @ 7.0% cap · market cap 8.77%
Theoretical Best
Office A
$718.3K
$628.5K – $838.0K
NOI $50,281 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family property with a renovated second-floor unit and tenant-paid utilities.
Where is this duplex located?
The property is located at 431 Greenwich Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Well‑maintained 2‑family built in 1910 in New Haven’s Hill neighborhood; Unit mix: one 3‑bedroom unit and one 4‑bedroom unit; Second‑floor unit fully renovated with oak kitchen cabinetry, vinyl plank flooring, and an updated bath
