Multifamily Property with Private
For Sale
$380,000
Pending
56 Woolsey Street, New Haven, CT 06513
Natural gas forced-air heating and a private driveway support practical day-to-day operation.
Property Size1,920 SF
Days on Market83
Property Features for 56 Woolsey Street
General Information
Standard status
Pending
Size
1,920 SF
Total Parking Spaces
9
Property subtype
Residential Income
Zoning
RM1
Taxes and HOA fees
Annual Taxes
$7,687
Amenities
Natural Gas, Forced Air
Full, Dirt Floor, Unfinished
Gas Water Heater
Asphalt, Off Street, Private, Parking Lot, Driveway
3updown - Unit(s) per Floor
Building Details
Building Size
1,920 SF
Year Built
1900
Listing Agency:
Century 21 Scala Group
(682) 227-5285
Listed By:
Angel Torres
(682) 227-5285
Source:
Evrealestate
Added: Jun 9
Changed: Aug 30
Last Checked: Aug 30 at 12:12AM
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 Century 21 Scala Group
Investment Insights
Based on property information with market context.
This multifamily property at 56 Woolsey Street includes natural gas forced-air heat, a gas water heater, and a full unfinished basement with a dirt floor. The building dates to 1900 and includes asphalt off-street parking with a private parking lot and driveway. Interior finish details are limited, providing a straightforward existing configuration for review.
The property is located in New Haven, Connecticut, and is identified as RM1 zoning. Exterior information notes a three-up, three-down arrangement with one unit per floor. The address places the property on Woolsey Street, with access directions referencing Lloyd Street, Grand Avenue, James Street, US-5, and I-91.
The property is located in New Haven, Connecticut, and is identified as RM1 zoning. Exterior information notes a three-up, three-down arrangement with one unit per floor. The address places the property on Woolsey Street, with access directions referencing Lloyd Street, Grand Avenue, James Street, US-5, and I-91.
Key Highlights
- RM1‑zoned multifamily property at 56 Woolsey Street, New Haven, CT 06513
- Built in 1900
- Three‑up, three‑down configuration with one unit per floor
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
$30,072
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
7.91%
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%
$601,440
$601.4K
Cap Rate 7%
$429,600
$429.6K
Cap Rate 9%
$334,133
$334.1K
Market Conditions
NOI Build-Up for 1,920 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
$58.3K $30.36/SF
− Vacancy
−$3.6K −$1.88/SF
EGI
$54.7K $28.48/SF
− OpEx
−$24.6K −$12.81/SF
NOI
$30.1K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$601,440
Cap Rate 7%
$429,600
Cap Rate 9%
$334,133
Alternative Uses
Best Use
Apartment 5plus
$429.6K
$375.9K – $501.2K
NOI $30,072 @ 7.0% cap · market cap 7.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$617.6K
$540.4K – $720.6K
NOI $43,233 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Natural gas forced-air heating and a private driveway support practical day-to-day operation.
Where is this multifamily property located?
The property is located at 56 Woolsey Street New Haven, CT.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: RM1‑zoned multifamily property at 56 Woolsey Street, New Haven, CT 06513; Built in 1900; Three‑up, three‑down configuration with one unit per floor
