Two-Unit Residential Income
7 University Place New Haven, CT 06511
7 University Place, New Haven, CT, 06511
$749,000
Pending
For Sale
$749,000
Pending
Two-unit building with private decks and yard, hardwood and fireplace features, separate utilities, and ample off-street parking.
Property Size3,053 SF
Days on Market99
Property Features for 7 University Place
General Information
- Standard status
- Pending
- Size
- 3,053 SF
- Property subtype
- Multi-Family / 2 Family
Building Details
- Year Built
- 1900
Listing agency
Seabury Hill REALTORS
(203) 675-3942
Listed by
John Hill · License #REB.0795121
(203) 675-3942
Source
Compass
Added: Apr 15 Updated: Jul 21 at 12:26PM Checked: Jul 21 at 12:26PM
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 Seabury Hill REALTORS
Investment Insights
Based on property information with market context.
This two-unit residential income property is arranged across three floors, offering distinct living layouts and multiple indoor entertaining spaces. The first-floor unit is leased and features hardwood floors, high ceilings, two ornate fireplaces, two bedrooms, one full bath, a cozy kitchen, a large living room, and a bonus flex room. The second-floor layout is described as matching the first, and it combines with the third floor to form a larger leased apartment. The third-floor portion includes additional living space with carpeting, a spacious living room, an eat-in kitchen, two bedrooms, a bonus room, and a full bath. Private decks and a private yard provide outdoor space, and the building has separate utilities and ample off-street parking.
Located in Downtown New Haven, the property is described as just steps from Yale University and the Broadway district.
The current configuration includes one first-floor unit and one combined second-/third-floor apartment, supporting flexible living arrangements within the same building.
Located in Downtown New Haven, the property is described as just steps from Yale University and the Broadway district.
The current configuration includes one first-floor unit and one combined second-/third-floor apartment, supporting flexible living arrangements within the same building.
Key Highlights
- Multi‑family in Downtown New Haven near Yale University and the Broadway district
- Over 3,000 sq ft across three floors with separate layouts for rental spaces
- Leased units: first‑floor unit at $1,425/mo and a combined second/third‑floor apartment at $3,600/mo
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $78.8k | $25.80 |
| − Vacancy | −$5.4k | −$1.75 |
| EGI | $73.4k | $24.05 |
| − OpEx | −$22.0k | −$7.21 |
| NOI | $51.4k | $16.83 |
3,053 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$734.1K
$642.4K – $856.5K
NOI $51,388 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$683.1K
$597.7K – $797.0K
NOI $47,818 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$982.1K
$859.3K – $1.15M
NOI $68,745 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit building with private decks and yard, hardwood and fireplace features, separate utilities, and ample off-street parking.
Where is this duplex located?
The property is located at 7 University Place New Haven, CT.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Multi‑family in Downtown New Haven near Yale University and the Broadway district; Over 3,000 sq ft across three floors with separate layouts for rental spaces; Leased units: first‑floor unit at $1,425/mo and a combined second/third‑floor apartment at $3,600/mo
