New Haven Multifamily Investment
For Sale
$285,000
90 Cedar St, New Haven, CT 06519
1,550 SF Multifamily Value Add Opportunity
Property Size1,550 SF
Lot Size0.07 Acres
Price / SF$183.87
Days on Market639
Property Features for 90 Cedar St
General Information
Standard status
Active
Property type
Multifamily properties, Residential income homes, Other residential income properties, Residential income properties, Investment properties
Size
1,550 SF
Class
C
Elevators
N/A
Lot size
0.07 Acres
Building Details
Year Built
1900
Buildings
1
Stories
2
Units
3
Listed By:
Pj Louis
(860) 712-9665
Added: Jan 10, 2025
Changed: Mar 16
Investment Insights
Based on property information with market context.
Located at 90 Cedar St in New Haven, CT, this multifamily property offers an investment or owner-occupant opportunity. The building has 1,550 square feet of space on a 0.07-acre lot. It features two rental units, providing income generation potential. One unit is a 2-bedroom, 1-bathroom apartment currently leased month-to-month to a tenant at a monthly rent of $895. The second unit is a spacious 2-bedroom, 1-bathroom townhouse-style apartment, providing flexibility for either additional rental income or owner occupancy. This unit is currently vacant. The building features low-maintenance vinyl siding and updated windows, contributing to energy efficiency and reduced maintenance costs. This property offers a blend of rental income and potential for value-add improvements. It is an opportunity for investors seeking returns or owner-occupants looking to generate supplemental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,089
Cap Rate
9.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$521,780
$521.8K
Cap Rate 7%
$372,700
$372.7K
Cap Rate 9%
$289,878
$289.9K
Market Conditions
NOI Build-Up for 1,550 SF
Gross rent
$40.0K $25.80/SF
− Vacancy
−$2.7K −$1.75/SF
EGI
$37.3K $24.05/SF
− OpEx
−$11.2K −$7.21/SF
NOI
$26.1K $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 Rate 5%
$521,780
Cap Rate 7%
$372,700
Cap Rate 9%
$289,878
Alternative Uses
Best Use
Multifamily LT 5
$372.7K
$326.1K – $434.8K
NOI $26,089 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$346.8K
$303.5K – $404.6K
NOI $24,277 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$498.6K
$436.3K – $581.7K
NOI $34,902 @ 7.0% cap · market cap 12.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,811
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - 1,550 SF Multifamily Value Add Opportunity
Where is this multifamily property located?
The property is located at 90 Cedar St New Haven, CT.
What is the asking price?
The asking price for this property is $285,000.
