Multifamily Property with Bonus
New
For Sale
$595,000
438 Main Street, West Haven, CT 06516
An upper-level bonus room and outdoor deck add distinct interior and exterior features.
Property Size2,975 SF
Lot Size0.14 Acres
Price / SF$200
Days on Market3
Property Features for 438 Main Street
General Information
Standard status
Active
Size
2,975 SF
Lot size
0.14 Acres
Property subtype
Multi Family
Zoning
R2
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
Source:
Capmarkrealty
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 11 at 3:19AM
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 on a 0.144-acre lot. A deck provides outdoor space, while a bonus room on the third level offers flexibility for uses such as an office, recreation room, guest area, or storage. The property is zoned R2.
Located on Main Street in West Haven, the property is about five minutes from beaches and the shoreline. I-95, hospitals, and the West Haven train station are also nearby.
Located on Main Street in West Haven, the property is about five minutes from beaches and the shoreline. I-95, hospitals, and the West Haven train station are also nearby.
Key Highlights
- 2,975 square feet of building area
- 0.144‑acre lot
- Built in 1900
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
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
521
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - An upper-level bonus room and outdoor deck add distinct interior and exterior features.
Where is this multifamily property located?
The property is located at 438 Main Street 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 feet of building area; 0.144‑acre lot; Built in 1900
