Two-Family Duplex with
For Sale
$585,000
Pending
515 Whalley Ave, New Haven, CT 06511
Two residential units feature central air conditioning and in-unit washer and dryer hookups.
Property Size2,991 SF
Days on Market75
Property Features for 515 Whalley Ave
General Information
Standard status
Pending
Size
2,991 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
central air conditioning
in-unit washer/dryer hook-ups
fenced yard
shed
Building Details
Year Built
1900
Listing Agency:
Sette Real Estate LLC
Listed By:
James M. Sette (203) 710-0047 (203) 248-2143 · License #REB.0756958
(203) 248-2143
Source:
Sunsetcreekrealty
Added: Aug 4
Changed: Oct 1
Last Checked: Oct 16 at 8:56AM
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 Sette Real Estate LLC
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Investment Insights
Based on property information with market context.
Built in 1900, this two-family duplex contains 2,991 square feet across two residential units. The first-floor residence includes two bedrooms, an eat-in kitchen, dining room, and living room. The upper residence spans two levels, with an eat-in kitchen, living room, dining room, full bathroom, and two bedrooms on the main level, plus two additional bedrooms, a bonus room, and another full bathroom upstairs. Both units have central air conditioning and hookups for in-unit laundry.
The property also includes a two-car garage, fenced yard, and shed. It is located at 515 Whalley Ave in New Haven, with proximity to Yale University, Southern CT State College, University of New Haven, Albertus Magnus, and Yale New Haven Hospital. Restaurants and entertainment venues are also nearby.
The property also includes a two-car garage, fenced yard, and shed. It is located at 515 Whalley Ave in New Haven, with proximity to Yale University, Southern CT State College, University of New Haven, Albertus Magnus, and Yale New Haven Hospital. Restaurants and entertainment venues are also nearby.
Key Highlights
- 2,991‑square‑foot duplex built in 1900
- Two residential units with central air conditioning
- First‑floor unit offers two bedrooms and an eat‑in kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,344
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,006,880
$1.0M
Cap Rate 7%
$719,200
$719.2K
Cap Rate 9%
$559,378
$559.4K
Market Conditions
NOI Build-Up for 2,991 SF
Gross rent
$77.2K $25.80/SF
− Vacancy
−$5.2K −$1.75/SF
EGI
$71.9K $24.05/SF
− OpEx
−$21.6K −$7.21/SF
NOI
$50.3K $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%
$1,006,880
Cap Rate 7%
$719,200
Cap Rate 9%
$559,378
Alternative Uses
Best Use
Multifamily LT 5
$719.2K
$629.3K – $839.1K
NOI $50,344 @ 7.0% cap · market cap 8.61%
Second Best
Apartment 5plus
$669.2K
$585.6K – $780.8K
NOI $46,847 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$962.1K
$841.9K – $1.12M
NOI $67,349 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,113
Businesses Nearby
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Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
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 - Two residential units feature central air conditioning and in-unit washer and dryer hookups.
Where is this duplex located?
The property is located at 515 Whalley Ave New Haven, CT.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 2,991‑square‑foot duplex built in 1900; Two residential units with central air conditioning; First‑floor unit offers two bedrooms and an eat‑in kitchen
