Multifamily Apartment
For Sale
$1,100,000
747 Dixwell Avenue, New Haven, CT 06511
11-unit multifamily property on the Dixwell corridor, sold as-is, where-is, with ample parking.
Property Size1,930 SF
Price / SF$219.78
Days on Market58
Property Features for 747 Dixwell Avenue
General Information
Standard status
Active
Size
1,930 SF
Property subtype
5 Family+
Additional Details
Highway Access
Yes
Multifamily Units
11
Building Details
Building Size
1,930 SF
Year Built
1930
Listing Agency:
Alpha Capital Realty, LLC
(203) 816-7926
Listed By:
Zachary Pinto · License #452508574
(203) 816-7926
Source:
Iverty
Added: Jun 30
Changed: Aug 25
Last Checked: Aug 26 at 8:13AM
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 Alpha Capital Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily apartment building is currently operating as an 11-unit property. The offering is strictly sold as-is, where-is, and the buyer is responsible for verifying unit count, permitting, and legal use through their own due diligence. The building includes well-maintained residential units with functional layouts and ample parking.
The property is located along the Dixwell corridor in New Haven and is described as offering convenient access to Yale University, downtown New Haven, public transportation, shopping, restaurants, and major highways.
Additional reference points provided include bikeScore of 82 and walkScore of 66, along with a transitScore of 41.
The property is located along the Dixwell corridor in New Haven and is described as offering convenient access to Yale University, downtown New Haven, public transportation, shopping, restaurants, and major highways.
Additional reference points provided include bikeScore of 82 and walkScore of 66, along with a transitScore of 41.
Key Highlights
- 1930‑built 11‑unit multifamily property on the Dixwell corridor
- Sold as‑is, where‑is; buyer to perform due diligence on unit count, permitting, and legal use
- Income‑producing multifamily with well‑maintained residential units and consistent occupancy
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
$78,392
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
7.13%
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%
$1,567,840
$1.6M
Cap Rate 7%
$1,119,886
$1.1M
Cap Rate 9%
$871,022
$871.0K
Market Conditions
NOI Build-Up for 5,005 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
$152.0K $30.36/SF
− Vacancy
−$9.4K −$1.88/SF
EGI
$142.5K $28.48/SF
− OpEx
−$64.1K −$12.81/SF
NOI
$78.4K $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%
$1,567,840
Cap Rate 7%
$1,119,886
Cap Rate 9%
$871,022
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$979.9K – $1.31M
NOI $78,392 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,699 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
647
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
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Frequently Asked Questions
What type of property is this?
Apartment building - 11-unit multifamily property on the Dixwell corridor, sold as-is, where-is, with ample parking.
Where is this apartment building located?
The property is located at 747 Dixwell Avenue New Haven, CT.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 1930‑built 11‑unit multifamily property on the Dixwell corridor; Sold as‑is, where‑is; buyer to perform due diligence on unit count, permitting, and legal use; Income‑producing multifamily with well‑maintained residential units and consistent occupancy
