Duplex Home with River View
For Sale
$459,900
7 Downing Street, New Haven, CT 06513
Duplex-style residential income property with spacious, light-filled living areas, a kitchen, and a back yard with river views.
Property Size2,160 SF
Price / SF$212.92
Days on Market125
Property Features for 7 Downing Street
General Information
Standard status
Active
Size
2,160 SF
Property subtype
2 Family
Building Details
Year Built
1860
Listing Agency:
CLMA Realty
Listed By:
Kimberly Tucker
(860) 995-5109
Source:
Lockandkeyre
Added: May 4
Changed: Aug 7
Last Checked: Jul 31 at 5:10AM
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 CLMA Realty
Investment Insights
Based on property information with market context.
This duplex-style residential income property at 7 Downing Street offers classic New England character with modern convenience. Inside, the home features spacious living areas and abundant natural light, along with a kitchen designed for everyday use and entertaining. The back yard includes a view of the river, adding an outdoor element to the home’s setting.
The property is located in New Haven, just minutes from Yale, nearby parks, and downtown destinations.
Overall, it presents a residential-income configuration with interior living space and an outdoor river-view yard.
The property is located in New Haven, just minutes from Yale, nearby parks, and downtown destinations.
Overall, it presents a residential-income configuration with interior living space and an outdoor river-view yard.
Key Highlights
- Year built: 1860
- Duplex‑style residential income property
- Spacious, light‑filled living areas throughout
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
$36,357
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
7.91%
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%
$727,140
$727.1K
Cap Rate 7%
$519,386
$519.4K
Cap Rate 9%
$403,967
$404.0K
Market Conditions
NOI Build-Up for 2,160 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
$55.7K $25.80/SF
− Vacancy
−$3.8K −$1.75/SF
EGI
$51.9K $24.05/SF
− OpEx
−$15.6K −$7.21/SF
NOI
$36.4K $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%
$727,140
Cap Rate 7%
$519,386
Cap Rate 9%
$403,967
Alternative Uses
Best Use
Multifamily LT 5
$519.4K
$454.5K – $606.0K
NOI $36,357 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$483.3K
$422.9K – $563.9K
NOI $33,831 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$694.8K
$608.0K – $810.6K
NOI $48,637 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
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 - Duplex-style residential income property with spacious, light-filled living areas, a kitchen, and a back yard with river views.
Where is this duplex located?
The property is located at 7 Downing Street New Haven, CT.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Year built: 1860; Duplex‑style residential income property; Spacious, light‑filled living areas throughout
