Two-Unit Duplex with Above-Ground
New
For Sale
$619,900
561 Savin Avenue, West Haven, CT 06516
Multi-Family For Sale, Units on different Floors, West Haven, CT
Property Size2,932 SF
Lot Size0.17 Acres
Price / SF$211.43
Days on Market5
Property Features for 561 Savin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Basement
Parking
6
Basement
Unfinished, Full
Lot features
Corner Lot, Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Use GPS
Subdivision
Savin Rock
Standard status
Active
Size
2,932 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9441
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Hot Water(Heating)
Water source
Public
Amenities
above-ground pool
deck
patio
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 614-8711
Listed By:
Chris Carozza · License #RES.0768259
(203) 912-6819
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 2 at 6:06PM
MLS# 24209663
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 2,932-square-foot duplex contains two residences, each with a living room, dining room, kitchen, two bedrooms and one full bathroom. The first-floor unit has in-unit laundry and access to a backyard with an above-ground pool, deck and patio. The upper unit has laundry hookups. A large unfinished basement and walk-up attic provide additional storage space.
The property occupies a corner lot of 0.17 acres in West Haven and is zoned R2. Shopping, restaurants, transportation, beaches and major roadways are nearby. Public water and public sewer serve the property.
The property occupies a corner lot of 0.17 acres in West Haven and is zoned R2. Shopping, restaurants, transportation, beaches and major roadways are nearby. Public water and public sewer serve the property.
Key Highlights
- Two residences, each with two bedrooms and one full bathroom
- Separate gas and electric meters for each unit
- 2,932 square feet on a 0.17‑acre corner lot
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
$49,351
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
7.96%
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%
$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
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
$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 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%
$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
Lease Details
2
Residential units
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate gas and electric meters serve the two residences, with laundry in the first-floor unit and hookups upstairs.
Where is this duplex located?
The property is located at 561 Savin Avenue 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; Separate gas and electric meters for each unit; 2,932 square feet on a 0.17‑acre corner lot
