Multifamily Property with Bonus
New
For Sale
$595,000
438 Main St, West Haven, CT 06516
A third-level flex room and outdoor deck add useful space to the home's residential configuration.
Property Size2,975 SF
Lot Size0.14 Acres
Price / SF$200
Days on Market5
Property Features for 438 Main St
General Information
Standard status
Active
Size
2,975 SF
Lot size
0.14 Acres
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Amenities
deck
Building Details
Year Built
1900
Listing Agency:
Houlihan Lawrence WD
Listed By:
Rose Coppola (203) 214-5955 (203) 701-4848
(203) 214-5955
Source:
Rhodeislandhomesforsale
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 11 at 6:56AM
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 Houlihan Lawrence WD
Investment Insights
Based on property information with market context.
This multifamily property contains 2,975 square feet and was built in 1900. Its layout includes four bedrooms, a third-level bonus room, and a deck on a 0.144-acre lot.
West Haven beaches are about five minutes away. I-95, area hospitals, and the West Haven train station are also nearby.
West Haven beaches are about five minutes away. I-95, area hospitals, and the West Haven train station are also nearby.
Key Highlights
- 2,975‑square‑foot multifamily property
- Four bedrooms and a third‑level bonus room
- Built in 1900 on a 0.144‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,597
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$931,940
$931.9K
Cap Rate 7%
$665,671
$665.7K
Cap Rate 9%
$517,744
$517.7K
Market Conditions
NOI Build-Up for 2,975 SF
Gross rent
$90.3K $30.36/SF
− Vacancy
−$5.6K −$1.88/SF
EGI
$84.7K $28.48/SF
− OpEx
−$38.1K −$12.81/SF
NOI
$46.6K $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 Rate 5%
$931,940
Cap Rate 7%
$665,671
Cap Rate 9%
$517,744
Alternative Uses
Best Use
Apartment 5plus
$665.7K
$582.5K – $776.6K
NOI $46,597 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$957.0K
$837.4K – $1.12M
NOI $66,989 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,308
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - A third-level flex room and outdoor deck add useful space to the home's residential configuration.
Where is this multifamily property located?
The property is located at 438 Main St West Haven, CT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: 2,975‑square‑foot multifamily property; Four bedrooms and a third‑level bonus room; Built in 1900 on a 0.144‑acre lot
