Two-Unit
New
For Sale
$399,000
977 Townsend Ave, New Haven, CT 06512
Separate entrances, utilities, and laundry provide distinct access and services for both residences.
Property Size1,626 SF
Price / SF$245.39
Days on Market6
Property Features for 977 Townsend Ave
General Information
Standard status
Active
Size
1,626 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1920
Buildings
1
Construction
colonial
Listing Agency:
RE/MAX Coast and Country
Listed By:
Sean Seigel (401) 207-5367 (860) 536-7600 · License #RES.0810564
(401) 207-5367
Source:
Jaida.mappmyhome
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 4 at 10:33AM
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 RE/MAX Coast and Country
Investment Insights
Based on property information with market context.
Built in 1920, this 1,626-square-foot duplex contains two residences, each with its own entrance and separate utilities. The first-floor unit has one bedroom, with a full bathroom and laundry in the basement; additional basement space may be finished. The second-floor residence offers two bedrooms, an updated kitchen, and a bright living room. Separate laundry is provided for each unit. A one-car garage and additional off-street parking are on site.
The property is near beaches, parks, shopping, Yale New Haven Hospital, area universities, major highways, and Lighthouse Point. These nearby destinations provide access to local services, recreation, and regional routes.
The property is near beaches, parks, shopping, Yale New Haven Hospital, area universities, major highways, and Lighthouse Point. These nearby destinations provide access to local services, recreation, and regional routes.
Key Highlights
- Two residences in a 1,626‑square‑foot duplex built in 1920
- First‑floor one‑bedroom layout; second‑floor unit has two bedrooms
- Separate entrances, utilities, and laundry for 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
$27,369
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
6.86%
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%
$547,380
$547.4K
Cap Rate 7%
$390,986
$391.0K
Cap Rate 9%
$304,100
$304.1K
Market Conditions
NOI Build-Up for 1,626 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
$42.0K $25.80/SF
− Vacancy
−$2.9K −$1.75/SF
EGI
$39.1K $24.05/SF
− OpEx
−$11.7K −$7.21/SF
NOI
$27.4K $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%
$547,380
Cap Rate 7%
$390,986
Cap Rate 9%
$304,100
Alternative Uses
Best Use
Multifamily LT 5
$391.0K
$342.1K – $456.2K
NOI $27,369 @ 7.0% cap · market cap 6.86%
Second Best
Apartment 5plus
$363.8K
$318.4K – $424.5K
NOI $25,468 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$523.0K
$457.7K – $610.2K
NOI $36,613 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
279
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
View Realmo Analytics
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?
Duplex - Separate entrances, utilities, and laundry provide distinct access and services for both residences.
Where is this duplex located?
The property is located at 977 Townsend Ave New Haven, CT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two residences in a 1,626‑square‑foot duplex built in 1920; First‑floor one‑bedroom layout; second‑floor unit has two bedrooms; Separate entrances, utilities, and laundry for each unit
