Two-Unit Duplex Near
For Sale
$399,900
645 Silver Sands Rd, East Haven, CT 06512
Separate utilities and a large yard support the property’s two-unit configuration.
Property Size2,237 SF
Days on Market125
Property Features for 645 Silver Sands Rd
General Information
Standard status
Active
Size
2,237 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
needs updating
Units
Unit Mix
1 x 4BR, 1 x 1BR
Multifamily Units
2
Building Details
Building Size
2,237 SF
Year Built
1890
Buildings
1
Listing Agency:
(203) 996-1020
Listed By:
Robert Bishop
(203) 996-1020
Source:
Elliman
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 1:07AM
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 Robert Bishop
Investment Insights
Based on property information with market context.
This two-family property includes a larger first-floor residence with four bedrooms and a dining room. The second-floor unit contains 1,500+ square feet, one bedroom, and additional unfinished area that may allow for a second bedroom. Separate utilities serve the units, and the property includes a large yard.
Located a short distance from the beach, the home was built in 1890 and requires updating. The sale is offered in as-is condition and remains subject to probate court approval.
Located a short distance from the beach, the home was built in 1890 and requires updating. The sale is offered in as-is condition and remains subject to probate court approval.
Key Highlights
- Two‑family property with separate utilities
- First‑floor unit includes 4 bedrooms and a dining room
- Second‑floor unit measures 1,500+ square feet
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
$35,038
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
8.76%
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%
$700,760
$700.8K
Cap Rate 7%
$500,543
$500.5K
Cap Rate 9%
$389,311
$389.3K
Market Conditions
NOI Build-Up for 2,237 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
$67.9K $30.36/SF
− Vacancy
−$4.2K −$1.88/SF
EGI
$63.7K $28.48/SF
− OpEx
−$28.7K −$12.81/SF
NOI
$35.0K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$700,760
Cap Rate 7%
$500,543
Cap Rate 9%
$389,311
Alternative Uses
Best Use
Multifamily LT 5
$537.9K
$470.7K – $627.6K
NOI $37,653 @ 7.0% cap · market cap 9.42%
Second Best
Apartment 5plus
$500.5K
$438.0K – $584.0K
NOI $35,038 @ 7.0% cap · market cap 8.76%
Theoretical Best
Office A
$719.6K
$629.6K – $839.5K
NOI $50,371 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 06512, CT
29,457
Population
12,945
Households
2.3
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
10.6 sq mi
ZIP Area
2,779
Density / Sq Mi
$84,034
Median Household Income
$48,981
Median Earnings
$1,464
Median Rent
$265,200
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?
Duplex - Separate utilities and a large yard support the property’s two-unit configuration.
Where is this duplex located?
The property is located at 645 Silver Sands Rd East Haven, CT.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑family property with separate utilities; First‑floor unit includes 4 bedrooms and a dining room; Second‑floor unit measures 1,500+ square feet
