Duplex with Central
For Sale
$630,000
78 Highland Avenue, East Haven, CT 06512
Multi-Family For Sale, Units on different Floors, East Haven, CT
Property Size3,559 SF
Lot Size0.39 Acres
Price / SF$177.02
Days on Market20
Property Features for 78 Highland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-1
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 4, Bedroom 6, Bedroom 3, Bathroom 3, Bedroom 1, Basement, Bathroom 2, Bedroom 8, Bedroom 2, Bathroom 1, Bedroom 7
Parking
8
Fireplace
1
Basement
Full, Apartment
Lot features
Level Lot, Sloping Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS Friendly
Subdivision
Foxon
Standard status
Active
Size
3,559 SF
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8151
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
central air
basement
fireplace
deck/patio
Building Details
Year built
1954
Architectural style
Other
Listing Agency:
mygoodagent
(888) 257-8265
Listed By:
Christian Flores · License #840333
(203) 895-1206
Added: Sep 16
Changed: Oct 4
Last Checked: Oct 5 at 4:06AM
MLS# 24206917
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family property contains 3,559 square feet on a 0.39-acre parcel. Built in 1954, the residence includes basement space, a fireplace, and a deck or patio area, with vinyl and brick exterior materials. Public water and sewer serve the property, which is zoned R-1.
Improvements include a two-story addition and conversion from single-family to two-family use. Work also included updated electrical service, a replacement roof, and interior drywall and insulation. Oil heat was replaced with gas forced-air heating, and each unit has central air conditioning.
Improvements include a two-story addition and conversion from single-family to two-family use. Work also included updated electrical service, a replacement roof, and interior drywall and insulation. Oil heat was replaced with gas forced-air heating, and each unit has central air conditioning.
Key Highlights
- Two‑family residence with 3,559 square feet
- 0.39‑acre parcel, zoned R‑1
- Gas forced‑air heating and central air conditioning in 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
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
472
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Both residences have gas forced-air heating and individual central air conditioning.
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: Two‑family residence with 3,559 square feet; 0.39‑acre parcel, zoned R‑1; Gas forced‑air heating and central air conditioning in each unit
