Side-by-Side Duplex with
For Sale
$700,000
53-55 Elihu St, Hamden, CT 06517
Two remodeled apartments offer classic interiors, separate storage areas, and a detached garage on a residential lot.
Property Size2,828 SF
Lot Size0.26 Acres
Price / SF$247.52
Days on Market70
Property Features for 53-55 Elihu St
General Information
Standard status
Active
Size
2,828 SF
Total Parking Spaces
2
Lot size
0.26 Acres
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Building Details
Year Built
1922
Buildings
1
Listing Agency:
Calcagni Real Estate
Listed By:
Lorrie Maiorano (203) 915-3217 (203) 458-1821
(203) 915-3217
Source:
Fairfieldcounty-properties
Added: Aug 14
Changed: Oct 1
Last Checked: Oct 20 at 10:22PM
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 Calcagni Real Estate
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Investment Insights
Based on property information with market context.
Built in 1922, this R4-zoned duplex at 53-55 Elihu Street is arranged as two side-by-side, mirror-image apartments. Each unit includes 6 rooms, 3 bedrooms, 1.5 baths, a fireplace, a full basement, and a walk-up attic. Combined living area is approximately 2,828 sq. ft. Interior details include hardwood floors, natural woodwork, large living rooms, formal dining rooms with built-ins, and remodeled kitchens and baths. A front porch with composite decking serves both units, while the 0.26-acre parcel also includes a 2-car detached garage.
The right-side apartment has a newer natural gas heating system. The property is near Yale, downtown New Haven, shops, and restaurants, providing a residential setting with access to nearby destinations. Separate unit layouts and basement storage support the existing duplex configuration, with one unit available for an owner-occupant and the other available for rental use.
The right-side apartment has a newer natural gas heating system. The property is near Yale, downtown New Haven, shops, and restaurants, providing a residential setting with access to nearby destinations. Separate unit layouts and basement storage support the existing duplex configuration, with one unit available for an owner-occupant and the other available for rental use.
Key Highlights
- Two side‑by‑side units with 6 rooms, 3 bedrooms, and 1.5 baths each
- Approximately 2,828 sq. ft. of total living space
- Separate full basements and walk‑up attics provide storage for both apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,601
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,020
$952.0K
Cap Rate 7%
$680,014
$680.0K
Cap Rate 9%
$528,900
$528.9K
Market Conditions
NOI Build-Up for 2,828 SF
Gross rent
$73.0K $25.80/SF
− Vacancy
−$5.0K −$1.75/SF
EGI
$68.0K $24.05/SF
− OpEx
−$20.4K −$7.21/SF
NOI
$47.6K $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%
$952,020
Cap Rate 7%
$680,014
Cap Rate 9%
$528,900
Alternative Uses
Best Use
Multifamily LT 5
$680.0K
$595.0K – $793.4K
NOI $47,601 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$632.8K
$553.7K – $738.2K
NOI $44,294 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$909.7K
$796.0K – $1.06M
NOI $63,679 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two remodeled apartments offer classic interiors, separate storage areas, and a detached garage on a residential lot.
Where is this duplex located?
The property is located at 53-55 Elihu St Hamden, CT.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two side‑by‑side units with 6 rooms, 3 bedrooms, and 1.5 baths each; Approximately 2,828 sq. ft. of total living space; Separate full basements and walk‑up attics provide storage for both apartments
