Four-Unit Residence with
For Sale
$1,199,000
525 Whitney Avenue, New Haven, CT 06511
Legal four-family property with a three-bedroom owner’s unit and three additional apartments.
Property Size3,685 SF
Price / SF$325.37
Days on Market155
Property Features for 525 Whitney Avenue
General Information
Standard status
Active
Size
3,685 SF
Total Parking Spaces
6
Property subtype
Multi-Family / 4 Family
Zoning
RH1
Occupancy
100%
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR, 1 x 2BR
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$20,230
Amenities
No
Hot Water
16
Ceiling Fans
Balcony, Deck
Not Applicable
Building Details
Year Built
1918
Buildings
1
Listing Agency:
Alpha Capital Realty, LLC
(203) 520-5436
Listed By:
Jake Smith · License #RES.0832305
(203) 520-5436
Source:
Compass
Added: Mar 30
Changed: Aug 30
Last Checked: Aug 30 at 11:50PM
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 Alpha Capital Realty, LLC
Investment Insights
Based on property information with market context.
This legal four-family residence contains 3,685 square feet across a 1918 structure. The first-floor owner’s unit offers three bedrooms, two baths, high ceilings, refinished hardwood floors, and a fireplace. A separate entrance serves one bedroom and bath, adding flexibility within the primary residence. The upper floors include two one-bedroom apartments and one two-bedroom apartment.
Recent improvements include new flat roofs and renovated exterior stairs. Parking includes a two-car garage plus four additional off-street spaces. The property is located at 525 Whitney Avenue in New Haven, within the Worthington Hooker School district and on Yale Shuttle and bus lines. Yale University, Downtown New Haven, and local parks are within walking distance.
Recent improvements include new flat roofs and renovated exterior stairs. Parking includes a two-car garage plus four additional off-street spaces. The property is located at 525 Whitney Avenue in New Haven, within the Worthington Hooker School district and on Yale Shuttle and bus lines. Yale University, Downtown New Haven, and local parks are within walking distance.
Key Highlights
- 3,685‑square‑foot four‑family residence built in 1918
- Unit mix includes a 3‑bedroom, 2‑bath owner’s unit, two 1‑bedroom apartments, and one 2‑bedroom apartment
- Two‑car garage plus 4 additional off‑street parking spaces
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
$62,026
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
5.17%
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%
$1,240,520
$1.2M
Cap Rate 7%
$886,086
$886.1K
Cap Rate 9%
$689,178
$689.2K
Market Conditions
NOI Build-Up for 3,685 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
$95.1K $25.80/SF
− Vacancy
−$6.5K −$1.75/SF
EGI
$88.6K $24.05/SF
− OpEx
−$26.6K −$7.21/SF
NOI
$62.0K $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%
$1,240,520
Cap Rate 7%
$886,086
Cap Rate 9%
$689,178
Alternative Uses
Best Use
Multifamily LT 5
$886.1K
$775.3K – $1.03M
NOI $62,026 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$824.5K
$721.5K – $962.0K
NOI $57,717 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $82,976 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,285
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Legal four-family property with a three-bedroom owner’s unit and three additional apartments.
Where is this quadplex located?
The property is located at 525 Whitney Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $1,199,000.
What are key features of this property?
This property features: 3,685‑square‑foot four‑family residence built in 1918; Unit mix includes a 3‑bedroom, 2‑bath owner’s unit, two 1‑bedroom apartments, and one 2‑bedroom apartment; Two‑car garage plus 4 additional off‑street parking spaces
