Two-Family Residential Income
45 Lyon Street New Haven, CT 06511
45 Lyon Street, New Haven, CT, 06511
$699,500
For Sale
$699,500
Well-maintained two-family home offers two separate units with in-unit laundry and updated mechanicals.
Property Size2,930 SF
Price / SF$238.74
Days on Market123
Property Features for 45 Lyon Street
General Information
- Standard status
- Active
- Size
- 2,930 SF
- Property subtype
- Multi-Family / 2 Family
Building Details
- Year Built
- 1900
Listing agency
Betsy Grauer Realty, Inc
(203) 787-3434
Listed by
Betsy Grauer · License #REB.0751445
(203) 787-3434
Source
Compass
Added: Mar 23 Updated: Jul 23 at 1:52AM Checked: Jul 23 at 1:52AM
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 Betsy Grauer Realty, Inc
Investment Insights
Based on property information with market context.
This well-maintained two-family property in the Wooster Square area features updated exterior and systems, including newer vinyl siding, Thermopane windows, gas heating units, blown-in insulation, and updated electric. The first floor includes five rooms and can be used as a 2- or 3-bedroom apartment. The second and third floors are combined into a large, sunny duplex-style unit with 3+ bedrooms and two full baths. Both apartments include kitchens in nice condition and have laundry within the units.
Outside, the property offers a new Trex deck with an automatic awning roof overlooking a large backyard. There is also a one-car garage and patio area. The home is located on a quiet, tree-lined one-way street, with proximity to Yale, the Town area, the train station, and Wooster Square.
This configuration supports either an owner-occupant setup or a rental-income approach, and the property is noted as eligible for the Yale Homebuyer Program.
Outside, the property offers a new Trex deck with an automatic awning roof overlooking a large backyard. There is also a one-car garage and patio area. The home is located on a quiet, tree-lined one-way street, with proximity to Yale, the Town area, the train station, and Wooster Square.
This configuration supports either an owner-occupant setup or a rental-income approach, and the property is noted as eligible for the Yale Homebuyer Program.
Key Highlights
- Well‑maintained 2‑family home in the Wooster Square area of New Haven
- Updated electric, newer vinyl siding, Thermopane windows, and blown‑in insulation
- Gas heating with radiator heat; finished walk‑up attic
Local Financial Insights For Multifamily LT 5
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 | $75.6k | $25.80 |
| − Vacancy | −$5.1k | −$1.75 |
| EGI | $70.5k | $24.05 |
| − OpEx | −$21.1k | −$7.21 |
| NOI | $49.3k | $16.83 |
2,930 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$704.5K
$616.5K – $822.0K
NOI $49,318 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$655.6K
$573.7K – $764.9K
NOI $45,892 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$942.5K
$824.7K – $1.10M
NOI $65,976 @ 7.0% cap · market cap 9.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home offers two separate units with in-unit laundry and updated mechanicals.
Where is this duplex located?
The property is located at 45 Lyon Street New Haven, CT.
What is the asking price?
The asking price for this property is $699,500.
What are key features of this property?
This property features: Well‑maintained 2‑family home in the Wooster Square area of New Haven; Updated electric, newer vinyl siding, Thermopane windows, and blown‑in insulation; Gas heating with radiator heat; finished walk‑up attic
