Two-Family Duplex with
For Sale
$380,000
78 Adeline St, New Haven, CT 06519
Fully occupied residential income property with separate tenant-paid utilities and rear access.
Property Size936 SF
Price / SF$405.98
Days on Market16
Property Features for 78 Adeline St
General Information
Standard status
Active
Size
936 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Oxford Realty
(413) 786-0584
Listed By:
Amanda R. Faroni-Sheehan (203) 314-4219 (203) 314-4219 · License #452508574
Source:
Fairfieldcounty-properties
Added: Aug 16
Changed: Aug 30
Last Checked: Aug 31 at 5:49PM
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 Oxford Realty
Investment Insights
Based on property information with market context.
This two-family duplex is fully occupied and includes separate utilities paid by the tenants. The property features functional layouts within a traditional multifamily configuration, along with a private driveway serving additional off-street parking at the rear. Built in 1900, it offers an established residential income asset in New Haven.
The property is located on Adeline Street near Ella T. Grasso Boulevard, with access to Downtown New Haven, Yale New Haven Hospital, commuter routes, shopping, dining, and public transportation. The duplex may also be acquired with the neighboring four-family property and lot at 86-90 Adeline Street for a larger multi-property purchase.
The property is located on Adeline Street near Ella T. Grasso Boulevard, with access to Downtown New Haven, Yale New Haven Hospital, commuter routes, shopping, dining, and public transportation. The duplex may also be acquired with the neighboring four-family property and lot at 86-90 Adeline Street for a larger multi-property purchase.
Key Highlights
- Fully occupied two‑family duplex
- Separate utilities paid by tenants
- Private driveway with additional rear off‑street parking
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
$15,755
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
4.15%
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%
$315,100
$315.1K
Cap Rate 7%
$225,071
$225.1K
Cap Rate 9%
$175,056
$175.1K
Market Conditions
NOI Build-Up for 936 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
$24.1K $25.80/SF
− Vacancy
−$1.6K −$1.75/SF
EGI
$22.5K $24.05/SF
− OpEx
−$6.8K −$7.21/SF
NOI
$15.8K $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%
$315,100
Cap Rate 7%
$225,071
Cap Rate 9%
$175,056
Alternative Uses
Best Use
Multifamily LT 5
$225.1K
$196.9K – $262.6K
NOI $15,755 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$209.4K
$183.3K – $244.3K
NOI $14,660 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$301.1K
$263.5K – $351.3K
NOI $21,076 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
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
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 - Fully occupied residential income property with separate tenant-paid utilities and rear access.
Where is this duplex located?
The property is located at 78 Adeline St New Haven, CT.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Fully occupied two‑family duplex; Separate utilities paid by tenants; Private driveway with additional rear off‑street parking
