Two-Unit Duplex with Detached
New
For Sale
$535,000
48 Smith, West Haven, CT 06516
Each residence has two bedrooms and an updated kitchen; the first-floor unit includes central air conditioning.
Property Size1,923 SF
Price / SF$221.44
Days on Market4
Property Features for 48 Smith
General Information
Standard status
Active
Size
1,923 SF
Total Parking Spaces
2
Property subtype
2 Family
Lease Term
Listing ID: 24215222, Standard Status: Active, MLS Status: Active, Property Subtype: 2 Family, 1 day on market
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
central air conditioning
walk-up attic
basement
updated kitchen
Building Details
Building Size
1,923 SF
Year Built
1923
Buildings
1
Listing Agency:
eXp Realty
(866) 828-3951
Listed By:
Maricela Herrera · License #RES.0803036
(203) 668-2023
Source:
Iverty
Added: Oct 17
Changed: Oct 19
Last Checked: Oct 19 at 8:58AM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This West Haven duplex, built in 1923, contains two residences, each with two bedrooms and an updated kitchen. Central air conditioning serves the first-floor unit. A walk-up attic and basement add storage and flexible interior space. The roof is approximately 12 years old.
A private driveway leads to a detached two-car garage, with additional off-street parking. The property is zoned R3 and is near downtown West Haven, shopping, restaurants, schools, public transportation, hospitals, and major highways.
A private driveway leads to a detached two-car garage, with additional off-street parking. The property is zoned R3 and is near downtown West Haven, shopping, restaurants, schools, public transportation, hospitals, and major highways.
Key Highlights
- Two residences, each with two bedrooms and an updated kitchen
- First‑floor unit has central air conditioning
- Detached two‑car garage and private driveway
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,666
Cap Rate
7.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,320
$813.3K
Cap Rate 7%
$580,943
$580.9K
Cap Rate 9%
$451,844
$451.8K
Market Conditions
NOI Build-Up for 2,416 SF
Gross rent
$62.3K $25.80/SF
− Vacancy
−$4.2K −$1.75/SF
EGI
$58.1K $24.05/SF
− OpEx
−$17.4K −$7.21/SF
NOI
$40.7K $16.83/SF
Area
New Haven, CT
Vacancy
6.80%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$813,320
Cap Rate 7%
$580,943
Cap Rate 9%
$451,844
Alternative Uses
Best Use
Multifamily LT 5
$580.9K
$508.3K – $677.8K
NOI $40,666 @ 7.0% cap · market cap 7.60%
Second Best
Apartment 5plus
$540.6K
$473.0K – $630.7K
NOI $37,841 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$777.2K
$680.0K – $906.7K
NOI $54,402 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,634
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and an updated kitchen; the first-floor unit includes central air conditioning.
Where is this duplex located?
The property is located at 48 Smith West Haven, CT.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Two residences, each with two bedrooms and an updated kitchen; First‑floor unit has central air conditioning; Detached two‑car garage and private driveway
