Duplex with Off-Street
For Sale
$459,000
567 Sherman Parkway, New Haven, CT 06511
MULTI_FAMILY - New Haven, CT
Property Size1,792 SF
Lot Size0.18 Acres
Price / SF$256.14
Days on Market102
Property Features for 567 Sherman Parkway
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 1, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 5
Parking
7
Fireplace
1
Basement
Full
Lot features
Level Lot
Elementary school
Wexler/Grant
High school
James Hillhouse
Directions
GPS friendly
Standard status
Active
Size
1,792 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
5349
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1940
Architectural style
Other
Listing Agency:
Real Broker CT, LLC
(855) 450-0442
Listed By:
Xiaoming Li
(917) 623-6536
Added: Apr 29
Changed: Aug 4
Last Checked: Aug 8 at 7:06PM
MLS# 24171227
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.
Duplexes 567 Sherman Parkway is a two-unit property built in 1940, situated on a 0.18-acre lot. The home offers two separate units, each with three bedrooms and a living room, along with a fireplace and a basement. Heating is provided by hot water (heating), and cooling is through window unit(s). Water is supplied by public utilities and the property is served by public sewer.
The property includes an open driveway with off-street parking for up to seven cars and a spacious backyard. Zoning is RM2, supporting multifamily use.
This is a practical duplex layout for tenants or owner-occupants looking for rental income from a two-family configuration, with the outdoor space and parking designed for everyday convenience.
The property includes an open driveway with off-street parking for up to seven cars and a spacious backyard. Zoning is RM2, supporting multifamily use.
This is a practical duplex layout for tenants or owner-occupants looking for rental income from a two-family configuration, with the outdoor space and parking designed for everyday convenience.
Key Highlights
- Zoned RM2 for multifamily use
- Two‑unit duplex with three bedrooms plus a living room per unit
- 0.18‑acre lot with a spacious backyard
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
$30,163
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
6.57%
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%
$603,260
$603.3K
Cap Rate 7%
$430,900
$430.9K
Cap Rate 9%
$335,144
$335.1K
Market Conditions
NOI Build-Up for 1,792 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
$46.2K $25.80/SF
− Vacancy
−$3.1K −$1.75/SF
EGI
$43.1K $24.05/SF
− OpEx
−$12.9K −$7.21/SF
NOI
$30.2K $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%
$603,260
Cap Rate 7%
$430,900
Cap Rate 9%
$335,144
Alternative Uses
Best Use
Multifamily LT 5
$430.9K
$377.0K – $502.7K
NOI $30,163 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$401.0K
$350.9K – $467.8K
NOI $28,068 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$576.4K
$504.4K – $672.5K
NOI $40,351 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
936
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex on a 0.18-acre lot with hot water heat, window AC, and off-street parking for up to seven cars.
Where is this duplex located?
The property is located at 567 Sherman Parkway New Haven, CT.
What is the asking price?
The asking price for this property is $459,000.
What are key features of this property?
This property features: Zoned RM2 for multifamily use; Two‑unit duplex with three bedrooms plus a living room per unit; 0.18‑acre lot with a spacious backyard
