Two-Unit Duplex with
For Sale
$499,900
52 Putnam Ave, Hamden, CT 06517
Residential/commercial configuration includes distinct kitchens, multiple bedrooms, and outdoor areas.
Property Size2,248 SF
Days on Market8
Property Features for 52 Putnam Ave
General Information
Standard status
Active
Size
2,248 SF
Total Parking Spaces
1
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
2,248 SF
Year Built
1920
Listing Agency:
Coldwell Banker Realty
(203) 687-3411
Listed By:
James Brandl
(203) 687-3411
Source:
Elliman
Added: Aug 15
Changed: Aug 16
Last Checked: Aug 22 at 6:49AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1920, this two-family property combines a first-floor residence with a larger upper-level arrangement spanning the second and third floors. The first unit includes a living room, dining room, kitchen, two bedrooms, one full bathroom, and hardwood flooring. The upper unit offers living and dining rooms, a kitchen, half bathroom, sun porch, and a third-floor primary bedroom suite with a full bathroom. Additional features include space for an office area, an outdoor deck, a level lot, and a one-car garage. The roof is four years old, and the property is being offered in its current as-is condition.
Located at 52 Putnam Ave in Hamden, Connecticut, the property has a Walk Score of 41 and a Bike Score of 36, indicating a car-dependent and somewhat bikeable setting.
Located at 52 Putnam Ave in Hamden, Connecticut, the property has a Walk Score of 41 and a Bike Score of 36, indicating a car-dependent and somewhat bikeable setting.
Key Highlights
- Two‑family residential/commercial property with units arranged across three floors
- First‑floor unit includes two bedrooms, one full bath, hardwood floors, and a full kitchen
- Upper unit features a third‑floor primary suite, sun porch, office area, and outdoor deck
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,838
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$756,760
$756.8K
Cap Rate 7%
$540,543
$540.5K
Cap Rate 9%
$420,422
$420.4K
Market Conditions
NOI Build-Up for 2,248 SF
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.
Gross rent
$58.0K $25.80/SF
− Vacancy
−$3.9K −$1.75/SF
EGI
$54.1K $24.05/SF
− OpEx
−$16.2K −$7.21/SF
NOI
$37.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$756,760
Cap Rate 7%
$540,543
Cap Rate 9%
$420,422
Alternative Uses
Best Use
Multifamily LT 5
$540.5K
$473.0K – $630.6K
NOI $37,838 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$503.0K
$440.1K – $586.8K
NOI $35,210 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$723.1K
$632.7K – $843.7K
NOI $50,619 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 06517, CT
14,954
Population
6,875
Households
2.2
Avg Household Size
45
Median Age
52%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
2,991
Density / Sq Mi
$97,154
Median Household Income
$58,025
Median Earnings
$1,351
Median Rent
$313,000
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?
Duplex - Residential/commercial configuration includes distinct kitchens, multiple bedrooms, and outdoor areas.
Where is this duplex located?
The property is located at 52 Putnam Ave Hamden, CT.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑family residential/commercial property with units arranged across three floors; First‑floor unit includes two bedrooms, one full bath, hardwood floors, and a full kitchen; Upper unit features a third‑floor primary suite, sun porch, office area, and outdoor deck
