Renovated Multifamily Home with
For Sale
$645,000
Pending
93 Porter Street, New Haven, CT 06519
Renovated multifamily with multiple 3-bedroom layouts, including an upper retreat with fireplace, kitchenette, jacuzzi tub, and in-unit laundry.
Property Size1,920 SF
Lot Size0.18 Acres
Days on Market50
Property Features for 93 Porter Street
General Information
Standard status
Pending
Size
1,920 SF
Lot size
0.18 Acres
Property subtype
2 Family
Building Details
Building Size
1,920 SF
Year Built
1920
Stories
3
Listing Agency:
Real Broker CT, LLC
Listed By:
Jennifer D'Amato · License #REB.0788209
(203) 605-7865
Source:
Iverty
Added: Jul 20
Changed: Aug 25
Last Checked: Aug 24 at 6:30AM
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 Real Broker CT, LLC
Investment Insights
Based on property information with market context.
This renovated multifamily features bright, open unit layouts across multiple floors. The first and second floors each offer generous 3-bedroom layouts. The third-floor setup stands out, and when combined with the second floor it creates a private, self-contained retreat that includes its own fireplace, kitchenette, bathroom with a jacuzzi tub, and in-unit laundry.
The property is located just minutes from Yale New Haven Hospital and sits centrally between downtown New Haven, the Westville neighborhood, and the University of New Haven. It is tucked away on a peaceful cul-de-sac.
With a .18-acre lot, the configuration offers rental flexibility for an owner-occupant, and the combined second/third arrangement is described as having potential for conversion to 3 units. The building is positioned for tenants seeking renovated living space within an established residential area.
The property is located just minutes from Yale New Haven Hospital and sits centrally between downtown New Haven, the Westville neighborhood, and the University of New Haven. It is tucked away on a peaceful cul-de-sac.
With a .18-acre lot, the configuration offers rental flexibility for an owner-occupant, and the combined second/third arrangement is described as having potential for conversion to 3 units. The building is positioned for tenants seeking renovated living space within an established residential area.
Key Highlights
- 1920‑built multifamily featuring renovated living space across every floor
- First and second floors each offer 3‑bedroom layouts
- Second/third‑floor combined unit includes a fireplace, kitchenette, bathroom with jacuzzi tub, and in‑unit laundry
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
$50,512
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
7.83%
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%
$1,010,240
$1.0M
Cap Rate 7%
$721,600
$721.6K
Cap Rate 9%
$561,244
$561.2K
Market Conditions
NOI Build-Up for 3,225 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
$97.9K $30.36/SF
− Vacancy
−$6.1K −$1.88/SF
EGI
$91.8K $28.48/SF
− OpEx
−$41.3K −$12.81/SF
NOI
$50.5K $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%
$1,010,240
Cap Rate 7%
$721,600
Cap Rate 9%
$561,244
Alternative Uses
Best Use
Apartment 5plus
$721.6K
$631.4K – $841.9K
NOI $50,512 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$907.7K – $1.21M
NOI $72,618 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,651
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 - Renovated multifamily with multiple 3-bedroom layouts, including an upper retreat with fireplace, kitchenette, jacuzzi tub, and in-unit laundry.
Where is this multifamily property located?
The property is located at 93 Porter Street New Haven, CT.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: 1920‑built multifamily featuring renovated living space across every floor; First and second floors each offer 3‑bedroom layouts; Second/third‑floor combined unit includes a fireplace, kitchenette, bathroom with jacuzzi tub, and in‑unit laundry
