Two-Family Residential Income
98 Gorham Avenue Hamden, CT 06514
98 Gorham Avenue, Hamden, CT, 06514
$549,900
For Sale
$549,900
MULTI_FAMILY - Hamden, CT
Property Size2,503 SF
Lot Size0.14 Acres
Price / SF$219.70
Days on Market47
Property Features for 98 Gorham Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R5
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Basement, Bedroom 3, Bedroom 4
- Basement
- Full
- Standard status
- Active
- Size
- 2,503 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 12943
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1930
- Architectural style
- Other
Listing Agency
eRealty Advisors, Inc.
(203) 989-3635
1266 E Main St, Suite 700r, White Plains, CT
Listed by
Edgar Ramirez
(203) 400-9924
Added: Jun 4 Checked: Jul 20 at 7:06 am
MLS# 24181235
Listing URL
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family property offers two spacious 2-bedroom units with renovated kitchens and bathrooms. In addition to the main living areas, there is a detached two-car garage on the property. A walk-up third floor provides an opportunity to create additional finished living space, allowing an owner to tailor the layout to future needs.
Located at 98 Gorham Avenue in Hamden, Connecticut, the property sits on a 0.14-acre lot. The listing is under zoning R5.
For buyers seeking an income-producing setup, the existing two-unit configuration and updated interiors support immediate occupancy and straightforward management. Owner-occupants may also find flexibility by living in one unit while renting the other. The third-floor walk-up adds a practical path for expansion should a buyer want to increase usable finished area over time.
Located at 98 Gorham Avenue in Hamden, Connecticut, the property sits on a 0.14-acre lot. The listing is under zoning R5.
For buyers seeking an income-producing setup, the existing two-unit configuration and updated interiors support immediate occupancy and straightforward management. Owner-occupants may also find flexibility by living in one unit while renting the other. The third-floor walk-up adds a practical path for expansion should a buyer want to increase usable finished area over time.
Key Highlights
- 1930‑built well‑maintained two‑family property with two spacious 2‑bedroom units
- Renovated kitchens and bathrooms in the two units
- Detached two‑car garage
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $64.6k | $25.80 |
| − Vacancy | −$4.4k | −$1.75 |
| EGI | $60.2k | $24.05 |
| − OpEx | −$18.1k | −$7.21 |
| NOI | $42.1k | $16.83 |
2,503 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$601.9K
$526.6K – $702.2K
NOI $42,130 @ 7.0% cap · market cap 7.66%
Second Best
Apartment 5plus
$560.1K
$490.1K – $653.4K
NOI $39,204 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$805.2K
$704.5K – $939.4K
NOI $56,361 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two renovated 2-bedroom units plus a detached two-car garage, with a walk-up third floor offering expansion options.
Where is this duplex located?
The property is located at 98 Gorham Avenue Hamden, CT.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 1930‑built well‑maintained two‑family property with two spacious 2‑bedroom units; Renovated kitchens and bathrooms in the two units; Detached two‑car garage
