Two-Unit Duplex with Walk-Up
For Sale
Under Contract
$480,000
54 East Avenue, West Haven, CT 06516
Multi-Family For Sale, Units on different Floors, West Haven, CT
Property Size2,436 SF
Lot Size0.08 Acres
Price / SF$197.04
Days on Market10
Property Features for 54 East Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
SDD
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Basement, Bedroom 2, Bedroom 3
Patio and Porch features
Deck
Exterior features
Sidewalk,Deck,Garden Area
Basement
Full, Concrete, Unfinished
Lot features
Level Lot, Water View
Elementary school
Per Board of Ed
High school
West Haven
Directions
GPS friendly
Subdivision
Savin Rock
Standard status
Active Under Contract
Size
2,436 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8760
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Architectural style
Other
Listing Agency:
Real Broker CT, LLC
(855) 450-0442
Listed By:
Brad Hudson
(203) 510-3827
Added: Sep 9
Changed: Sep 18
Last Checked: Sep 18 at 1:06PM
MLS# 24205379
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1910 duplex contains 2,436 square feet across two residential units arranged on separate floors. The property includes a walk-up attic with its own access, along with a deck, garden area, basement, and four bedrooms. Recent improvements include an updated first-floor bathroom and new kitchen appliances. Public water and public sewer serve the property, which is located on a 0.08-acre parcel with SDD zoning.
The home is in West Haven, minutes on foot from the shoreline, beaches, Savin Rock Park, and the boardwalk. Nearby dining options include Riva and Stowe's. Its location supports a range of residential income configurations, while any change to the existing unit count or use would require buyer due diligence regarding zoning, permits, approvals, and feasibility.
The home is in West Haven, minutes on foot from the shoreline, beaches, Savin Rock Park, and the boardwalk. Nearby dining options include Riva and Stowe's. Its location supports a range of residential income configurations, while any change to the existing unit count or use would require buyer due diligence regarding zoning, permits, approvals, and feasibility.
Key Highlights
- 2,436‑square‑foot duplex with two residential units
- Units arranged on separate floors
- Walk‑up attic with dedicated access
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
$41,003
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
8.54%
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%
$820,060
$820.1K
Cap Rate 7%
$585,757
$585.8K
Cap Rate 9%
$455,589
$455.6K
Market Conditions
NOI Build-Up for 2,436 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
$62.8K $25.80/SF
− Vacancy
−$4.3K −$1.75/SF
EGI
$58.6K $24.05/SF
− OpEx
−$17.6K −$7.21/SF
NOI
$41.0K $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%
$820,060
Cap Rate 7%
$585,757
Cap Rate 9%
$455,589
Alternative Uses
Best Use
Multifamily LT 5
$585.8K
$512.5K – $683.4K
NOI $41,003 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$545.1K
$476.9K – $635.9K
NOI $38,154 @ 7.0% cap · market cap 7.95%
Theoretical Best
Office A
$783.6K
$685.7K – $914.2K
NOI $54,852 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
461
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units occupy separate floors and include access to a walk-up attic.
Where is this duplex located?
The property is located at 54 East Avenue West Haven, CT.
What is the asking price?
The asking price for this property is $480,000.
What are key features of this property?
This property features: 2,436‑square‑foot duplex with two residential units; Units arranged on separate floors; Walk‑up attic with dedicated access
