Residential Income
For Sale
$388,000
70 Adeline Street, New Haven, CT 06519
Multi-level residential property with separate-floor units, walk-out basement access, and on-street parking.
Property Size1,734 SF
Price / SF$223.76
Days on Market13
Property Features for 70 Adeline Street
General Information
Standard status
Active
Size
1,734 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RM2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$4,708
Amenities
Window Unit(s)
Electric, Natural Gas, Hot Water
Full, Walk-Out Access, Unfinished
Electric Water Heater, Gas Water Heater
On Street
Units on different Floors
Building Details
Building Size
1,734 SF
Year Built
1900
Listing Agency:
(203) 278-3485
Listed By:
Galina Razorjonova · License #RES.0824575
(203) 278-3485
Source:
Evrealestate
Added: Aug 8
Changed: Aug 19
Last Checked: Aug 20 at 6:00AM
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 Galina Razorjonova
Investment Insights
Based on property information with market context.
This residential income property dates to 1900 and includes units arranged on different floors. Interior features include window-unit cooling, electric and natural-gas service, hot-water heating, and both electric and gas water heaters. The basement offers full walk-out access and remains unfinished.
The property is located at 70 Adeline Street in New Haven, Connecticut, within RM2 zoning. On-street parking is available, and the address is reached from Ella T. Grasso Boulevard via local streets.
The property is located at 70 Adeline Street in New Haven, Connecticut, within RM2 zoning. On-street parking is available, and the address is reached from Ella T. Grasso Boulevard via local streets.
Key Highlights
- RM2‑zoned residential income property at 70 Adeline Street, New Haven
- Units arranged on different floors
- Full unfinished basement with walk‑out access
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
$27,159
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
7.00%
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%
$543,180
$543.2K
Cap Rate 7%
$387,986
$388.0K
Cap Rate 9%
$301,767
$301.8K
Market Conditions
NOI Build-Up for 1,734 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
$52.6K $30.36/SF
− Vacancy
−$3.3K −$1.88/SF
EGI
$49.4K $28.48/SF
− OpEx
−$22.2K −$12.81/SF
NOI
$27.2K $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%
$543,180
Cap Rate 7%
$387,986
Cap Rate 9%
$301,767
Alternative Uses
Best Use
Apartment 5plus
$388.0K
$339.5K – $452.7K
NOI $27,159 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$557.8K
$488.1K – $650.8K
NOI $39,045 @ 7.0% cap · market cap 10.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,123
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Multi-level residential property with separate-floor units, walk-out basement access, and on-street parking.
Where is this residential income property located?
The property is located at 70 Adeline Street New Haven, CT.
What is the asking price?
The asking price for this property is $388,000.
What are key features of this property?
This property features: RM2‑zoned residential income property at 70 Adeline Street, New Haven; Units arranged on different floors; Full unfinished basement with walk‑out access
