Duplex with Solar
For Sale
$555,000
74 Starr Street, New Haven, CT 06511
RM2-zoned two-family property with a full basement, newer roof, and updated mechanical systems.
Property Size3,016 SF
Price / SF$184.02
Days on Market76
Property Features for 74 Starr Street
General Information
Standard status
Active
Size
3,016 SF
Property subtype
2 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 3BR/1BA, 1 x 9BR/3BA
Multifamily Units
2
Amenities
solar panels
full basement
Building Details
Year Built
1920
Listing Agency:
Berkshire Hathaway NE Prop.
(203) 895-7497
Listed By:
Kicha Coble
(203) 895-7497
Source:
Lockandkeyre
Added: Jun 15
Changed: Aug 28
Last Checked: Jul 7 at 4:55AM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
Built in 1920, this RM2-zoned duplex contains two residential living arrangements. The first floor includes 3 bedrooms and 1 bath, while the second- and third-floor combination provides 9 bedrooms and 3 full baths. A full basement adds storage space and may offer future finishing possibilities. Solar panels are installed, and the property has a newer roof and mechanical systems.
The property is located at 74 Starr Street in New Haven, with access to universities, hospitals, shopping, restaurants, public transportation, and major highways. It was previously used as a rooming house and is being sold as-is.
The property is located at 74 Starr Street in New Haven, with access to universities, hospitals, shopping, restaurants, public transportation, and major highways. It was previously used as a rooming house and is being sold as-is.
Key Highlights
- Two‑family duplex with 3 bedrooms and 1 bath on the first floor
- Second- and third‑floor combination includes 9 bedrooms and 3 full baths
- Full basement for storage with potential finishing possibilities
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
$50,765
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
9.15%
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%
$1,015,300
$1.0M
Cap Rate 7%
$725,214
$725.2K
Cap Rate 9%
$564,056
$564.1K
Market Conditions
NOI Build-Up for 3,016 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
$77.8K $25.80/SF
− Vacancy
−$5.3K −$1.75/SF
EGI
$72.5K $24.05/SF
− OpEx
−$21.8K −$7.21/SF
NOI
$50.8K $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%
$1,015,300
Cap Rate 7%
$725,214
Cap Rate 9%
$564,056
Alternative Uses
Best Use
Multifamily LT 5
$725.2K
$634.6K – $846.1K
NOI $50,765 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$674.8K
$590.5K – $787.3K
NOI $47,239 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$970.2K
$848.9K – $1.13M
NOI $67,912 @ 7.0% cap · market cap 12.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,139
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
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 - RM2-zoned two-family property with a full basement, newer roof, and updated mechanical systems.
Where is this duplex located?
The property is located at 74 Starr Street New Haven, CT.
What is the asking price?
The asking price for this property is $555,000.
What are key features of this property?
This property features: Two‑family duplex with 3 bedrooms and 1 bath on the first floor; Second- and third‑floor combination includes 9 bedrooms and 3 full baths; Full basement for storage with potential finishing possibilities
