Two-Unit Duplex with Central
New
For Sale
$630,000
78 Highland Avenue, East Haven, CT 06512
Improved two-family residence with public water and sewer serving each unit.
Property Size3,559 SF
Lot Size0.39 Acres
Price / SF$177.02
Days on Market3
Property Features for 78 Highland Avenue
General Information
Standard status
Active
Size
3,559 SF
Lot size
0.39 Acres
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
basement
fireplace
deck/patio area
Building Details
Year Built
1954
Buildings
1
Listing Agency:
mygoodagent
Listed By:
Christian Flores · License #840333
(203) 895-1206
Source:
Lowerhudsonvalleyproperties
Added: Sep 16
Last Checked: Sep 16 at 1:48PM
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 mygoodagent
Investment Insights
Based on property information with market context.
This duplex includes approximately 3,559 square feet of heated and cooled living space across two residential units on approximately 0.39 acres. Improvements include conversion from a single-family residence, a two-story addition, updated electrical service, a new roof, interior drywall and insulation work, and a change from oil heating to gas forced-air systems. Each unit has central air conditioning, while additional features include basement space, a fireplace, a deck or patio area, and a vinyl and brick exterior.
The property is served by public water and sewer and was built in 1954. Its two-unit configuration supports owner-occupied use, rental occupancy, or multigenerational living, subject to applicable requirements.
The property is served by public water and sewer and was built in 1954. Its two-unit configuration supports owner-occupied use, rental occupancy, or multigenerational living, subject to applicable requirements.
Key Highlights
- Approximately 3,559‑square‑foot two‑family residence
- Approximately 0.39‑acre parcel
- Gas forced‑air heating and central air conditioning for each unit
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
$55,744
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
8.85%
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%
$1,114,880
$1.1M
Cap Rate 7%
$796,343
$796.3K
Cap Rate 9%
$619,378
$619.4K
Market Conditions
NOI Build-Up for 3,559 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
$108.1K $30.36/SF
− Vacancy
−$6.7K −$1.88/SF
EGI
$101.4K $28.48/SF
− OpEx
−$45.6K −$12.81/SF
NOI
$55.7K $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%
$1,114,880
Cap Rate 7%
$796,343
Cap Rate 9%
$619,378
Alternative Uses
Best Use
Multifamily LT 5
$855.8K
$748.8K – $998.4K
NOI $59,905 @ 7.0% cap · market cap 9.51%
Second Best
Apartment 5plus
$796.3K
$696.8K – $929.1K
NOI $55,744 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$1.14M
$1.00M – $1.34M
NOI $80,139 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
141
Businesses Nearby
Explore this area
Business Placement
Demographics for 06512, CT
29,457
Population
12,945
Households
2.3
Avg Household Size
43
Median Age
30%
College-Educated
91%
High-School Grad
10.6 sq mi
ZIP Area
2,779
Density / Sq Mi
$84,034
Median Household Income
$48,981
Median Earnings
$1,464
Median Rent
$265,200
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 - Improved two-family residence with public water and sewer serving each unit.
Where is this duplex located?
The property is located at 78 Highland Avenue East Haven, CT.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Approximately 3,559‑square‑foot two‑family residence; Approximately 0.39‑acre parcel; Gas forced‑air heating and central air conditioning for each unit
