Renovated Duplex with Shared
For Sale
$479,000
61 Stevens Street, New Haven, CT 06519
Two occupied units share basement laundry equipped with a washer and dryer.
Property Size2,046 SF
Days on Market85
Property Features for 61 Stevens Street
General Information
Standard status
Active
Size
2,046 SF
Property subtype
Multi Family Home
Zoning
RM2
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,055
Amenities
washer/dryer in basement
Building Details
Building Size
2,046 SF
Year Built
1900
Year Renovated
2019
Units
2
Listing Agency:
Real Broker Ct, LLC
(917) 623-6536
Listed By:
Xiaoming Li
(917) 623-6536
Source:
Westshorerealty
Added: May 16
Changed: Aug 7
Last Checked: Aug 8 at 1:08PM
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 Real Broker Ct, LLC
Investment Insights
Based on property information with market context.
This two-family duplex was built in 1900 and renovated in 2019. Both residential units are occupied, providing an established two-unit configuration for an owner or investor. A basement laundry area serves both units and includes a washer and dryer.
The property is located at 61 Stevens Street in New Haven, Connecticut, and carries RM2 zoning. The existing layout combines two residential units with shared basement laundry facilities.
The property is located at 61 Stevens Street in New Haven, Connecticut, and carries RM2 zoning. The existing layout combines two residential units with shared basement laundry facilities.
Key Highlights
- Two‑family duplex with both units occupied
- Renovated in 2019
- Shared basement laundry area
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
$34,438
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
7.19%
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%
$688,760
$688.8K
Cap Rate 7%
$491,971
$492.0K
Cap Rate 9%
$382,644
$382.6K
Market Conditions
NOI Build-Up for 2,046 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
$52.8K $25.80/SF
− Vacancy
−$3.6K −$1.75/SF
EGI
$49.2K $24.05/SF
− OpEx
−$14.8K −$7.21/SF
NOI
$34.4K $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%
$688,760
Cap Rate 7%
$491,971
Cap Rate 9%
$382,644
Alternative Uses
Best Use
Multifamily LT 5
$492.0K
$430.5K – $574.0K
NOI $34,438 @ 7.0% cap · market cap 7.19%
Second Best
Apartment 5plus
$457.8K
$400.6K – $534.1K
NOI $32,046 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$658.1K
$575.9K – $767.8K
NOI $46,070 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
6,288
Businesses Nearby
Explore this area
Business Placement
Demographics for 06519, CT
15,450
Population
6,424
Households
2.4
Avg Household Size
33
Median Age
20%
College-Educated
77%
High-School Grad
1.8 sq mi
ZIP Area
8,583
Density / Sq Mi
$44,394
Median Household Income
$29,745
Median Earnings
$1,356
Median Rent
$247,600
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?
Duplex - Two occupied units share basement laundry equipped with a washer and dryer.
Where is this duplex located?
The property is located at 61 Stevens Street New Haven, CT.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Two‑family duplex with both units occupied; Renovated in 2019; Shared basement laundry area
