Two-Unit Duplex with
New
For Sale
$619,900
561 Savin Ave, West Haven, CT 06516
Two separate residences provide two-bedroom layouts, individual utility meters and distinct laundry arrangements.
Property Size2,932 SF
Days on Market7
Property Features for 561 Savin Ave
General Information
Standard status
Active
Size
2,932 SF
Property subtype
Multi Family
Building Details
Building Size
2,932 SF
Year Built
1920
Listing Agency:
RE/MAX Right Choice
Listed By:
Chris Carozza · License #RES.0768259
(203) 912-6819
Source:
Elliman
Added: Sep 29
Changed: Oct 1
Last Checked: Oct 5 at 6:07PM
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 RE/MAX Right Choice
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two residences, each with two bedrooms and a full bathroom. The first-floor home has an updated kitchen, in-unit laundry and backyard access; its outdoor area includes an above-ground pool, deck and patio. The upper-floor unit has laundry hookups. Gas and electric service are separately metered for each residence.
Storage space includes a large unfinished basement and a walk-up attic. The property occupies a corner lot in West Haven, near shopping, restaurants, transit, beaches and major roads. Its Walk Score is 76 and Bike Score is 52.
Storage space includes a large unfinished basement and a walk-up attic. The property occupies a corner lot in West Haven, near shopping, restaurants, transit, beaches and major roads. Its Walk Score is 76 and Bike Score is 52.
Key Highlights
- Two residences, each with two bedrooms and one full bathroom
- First‑floor unit features an updated kitchen and in‑unit laundry
- Backyard includes an above‑ground pool, deck and patio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$49,351
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$987,020
$987.0K
Cap Rate 7%
$705,014
$705.0K
Cap Rate 9%
$548,344
$548.3K
Market Conditions
NOI Build-Up for 2,932 SF
Gross rent
$75.6K $25.80/SF
− Vacancy
−$5.1K −$1.75/SF
EGI
$70.5K $24.05/SF
− OpEx
−$21.2K −$7.21/SF
NOI
$49.4K $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%
$987,020
Cap Rate 7%
$705,014
Cap Rate 9%
$548,344
Alternative Uses
Best Use
Multifamily LT 5
$705.0K
$616.9K – $822.5K
NOI $49,351 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$656.0K
$574.0K – $765.4K
NOI $45,923 @ 7.0% cap · market cap 7.41%
Theoretical Best
Office A
$943.2K
$825.3K – $1.10M
NOI $66,021 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,166
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 separate residences provide two-bedroom layouts, individual utility meters and distinct laundry arrangements.
Where is this duplex located?
The property is located at 561 Savin Ave West Haven, CT.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Two residences, each with two bedrooms and one full bathroom; First‑floor unit features an updated kitchen and in‑unit laundry; Backyard includes an above‑ground pool, deck and patio
