Stabilized Multifamily Investment
For Sale
$975,000
83 James Street, New Haven, CT 06513
Five-unit multifamily property in New Haven with strong income.
Property Size5,600 SF
Price / SF$174.11
Days on Market144
Property Features for 83 James Street
General Information
Standard status
Active
Size
5,600 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$13,548
Amenities
Asphalt Shingle Roof
Corner Lot
Ceramic Tile Flooring
Gas on Gas Heating
Level Lot
Parking Lot
Parquet Flooring
Paved
Plywood Flooring
Wood Flooring
Building Details
Year Built
1900
Listing Agency:
iVision Real Estate
(203) 871-1068
Listed By:
MARIE MATTA-ISONA
Source:
Corcoran
Added: Apr 4
Changed: Aug 25
Last Checked: Aug 25 at 7:48AM
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 iVision Real Estate
Investment Insights
Based on property information with market context.
This is a fully stabilized and well-maintained five-unit multifamily property. The property is 100% occupied and generates income exceeding $121,800 annually. Several units have been updated to support tenant retention and rent growth. The property is located in a high-demand rental market in New Haven. It is suitable for investors seeking a stabilized, income-producing asset.
Key Highlights
- 100% occupied with proven tenant history and consistent collections
- Strong in‑place income exceeding $121,800 annually
- Turnkey investment delivering immediate cash flow and operational stability
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
$87,711
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
9.00%
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%
$1,754,220
$1.8M
Cap Rate 7%
$1,253,014
$1.3M
Cap Rate 9%
$974,567
$974.6K
Market Conditions
NOI Build-Up for 5,600 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
$170.0K $30.36/SF
− Vacancy
−$10.5K −$1.88/SF
EGI
$159.5K $28.48/SF
− OpEx
−$71.8K −$12.81/SF
NOI
$87.7K $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%
$1,754,220
Cap Rate 7%
$1,253,014
Cap Rate 9%
$974,567
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,711 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.58M – $2.10M
NOI $126,097 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
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?
Apartment building - Five-unit multifamily property in New Haven with strong income.
Where is this apartment building located?
The property is located at 83 James Street New Haven, CT.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 100% occupied with proven tenant history and consistent collections; Strong in‑place income exceeding $121,800 annually; Turnkey investment delivering immediate cash flow and operational stability
