Historic Brick
For Sale
$910,000
565 Orange Street, New Haven, CT 06511
Multi-Family For Sale, 3updown - Unit(s) per Floor, New Haven, CT
Property Size2,205 SF
Lot Size0.04 Acres
Price / SF$412.70
Days on Market74
Property Features for 565 Orange Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Basement, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 5, Bedroom 1
Exterior features
Sidewalk,Garden Area
Fireplace
1
Basement
Unfinished, Full
Lot features
City Views, Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Elm St to Orange St.
Subdivision
East Rock
Standard status
Active
Size
2,205 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
14655
Utilities
Sewer type
Public Sewer
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1890
Architectural style
Other
Listing Agency:
Keller Williams Realty
(203) 429-4020
Listed By:
Sean Jackson
(203) 581-2334
Added: Jun 17
Changed: Aug 27
Last Checked: Aug 29 at 1:06AM
MLS# 24184013
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.
Built in 1890, this 2,205-square-foot brick rowhouse contains three residential units on a 0.04-acre parcel. The property is within the Orange Street Historic District and retains tall ceilings, original moldings, decorative fireplaces, and a private garden. The upper residence is a three-bedroom duplex arranged across two levels beneath skylights.
Each unit has its own electric meter and gas furnace, supporting independent utility service. Additional features include window-unit cooling, public water, public sewer, sidewalk access, and a fireplace. The property is located steps from the Yale School of Management, with downtown, cafes, and parks described as walkable from the address.
Each unit has its own electric meter and gas furnace, supporting independent utility service. Additional features include window-unit cooling, public water, public sewer, sidewalk access, and a fireplace. The property is located steps from the Yale School of Management, with downtown, cafes, and parks described as walkable from the address.
Key Highlights
- Three‑unit brick rowhouse in the Orange Street Historic District
- 2,205 square feet on a 0.04‑acre lot; built in 1890
- Upper three‑bedroom duplex spans two levels beneath skylights
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
$37,114
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
4.08%
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%
$742,280
$742.3K
Cap Rate 7%
$530,200
$530.2K
Cap Rate 9%
$412,378
$412.4K
Market Conditions
NOI Build-Up for 2,205 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
$56.9K $25.80/SF
− Vacancy
−$3.9K −$1.75/SF
EGI
$53.0K $24.05/SF
− OpEx
−$15.9K −$7.21/SF
NOI
$37.1K $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%
$742,280
Cap Rate 7%
$530,200
Cap Rate 9%
$412,378
Alternative Uses
Best Use
Multifamily LT 5
$530.2K
$463.9K – $618.6K
NOI $37,114 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$493.4K
$431.7K – $575.6K
NOI $34,536 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$709.3K
$620.6K – $827.5K
NOI $49,651 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,599
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered units include a two-level upper duplex and private garden.
Where is this triplex located?
The property is located at 565 Orange Street New Haven, CT.
What is the asking price?
The asking price for this property is $910,000.
What are key features of this property?
This property features: Three‑unit brick rowhouse in the Orange Street Historic District; 2,205 square feet on a 0.04‑acre lot; built in 1890; Upper three‑bedroom duplex spans two levels beneath skylights
