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 Market590
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
Listing Agency:
(860) 712-9665
Listed By:
Pj
(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 = 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
$26,089
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
9.15%
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%
$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
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
$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 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%
$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
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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.
