Two-Unit Residential Income
For Sale
$450,000
191 , New Haven, CT 06515
Legal two-family residence offering bright, sunny 3-bedroom units with separate utilities and a large parking/garage setup.
Property Size2,448 SF
Price / SF$183.82
Days on Market77
Property Features for 191
General Information
Standard status
Active
Size
2,448 SF
Total Parking Spaces
10
Property subtype
2 Family
Additional Details
Multifamily Units
2
Amenities
laundry
storage
Building Details
Year Built
1910
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(203) 452-3700
Listed By:
Jennifer Lynne · License #REB.0793669
(203) 517-5023
Source:
Lockandkeyre
Added: Jul 21
Changed: Oct 4
Last Checked: Oct 4 at 9:38AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This legal two-family residential income property offers two bright, sunny units with a similar layout that includes three bedrooms, an eat-in kitchen, a living room, and a full bath. Laundry and storage are available in the basement. Each unit is served by separate utilities, with natural gas heat and central air.
The property also includes a four-car garage and parking for up to 10 cars. In addition, there is a semi-finished attic that the seller indicates may provide potential to add a third unit.
Both units have access to shared basement amenities for laundry and storage, while the separate utility setups support independent operation.
The property also includes a four-car garage and parking for up to 10 cars. In addition, there is a semi-finished attic that the seller indicates may provide potential to add a third unit.
Both units have access to shared basement amenities for laundry and storage, while the separate utility setups support independent operation.
Key Highlights
- Legal 2‑family home built in 1910 with both units offering 3 bedrooms, eat‑in kitchen, living room, and a full bath
- Each unit has separate utilities, including natural gas heat and central air
- Semi‑finished attic offers potential to add a 3rd unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,205
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$824,100
$824.1K
Cap Rate 7%
$588,643
$588.6K
Cap Rate 9%
$457,833
$457.8K
Market Conditions
NOI Build-Up for 2,448 SF
Gross rent
$63.2K $25.80/SF
− Vacancy
−$4.3K −$1.75/SF
EGI
$58.9K $24.05/SF
− OpEx
−$17.7K −$7.21/SF
NOI
$41.2K $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%
$824,100
Cap Rate 7%
$588,643
Cap Rate 9%
$457,833
Alternative Uses
Best Use
Multifamily LT 5
$588.6K
$515.1K – $686.8K
NOI $41,205 @ 7.0% cap · market cap 9.16%
Second Best
Apartment 5plus
$547.7K
$479.3K – $639.0K
NOI $38,342 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$787.5K
$689.0K – $918.7K
NOI $55,122 @ 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
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 06515, CT
17,877
Population
7,531
Households
2.4
Avg Household Size
33
Median Age
48%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
3,886
Density / Sq Mi
$74,044
Median Household Income
$40,209
Median Earnings
$1,410
Median Rent
$284,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family residence offering bright, sunny 3-bedroom units with separate utilities and a large parking/garage setup.
Where is this duplex located?
The property is located at 191 New Haven, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Legal 2‑family home built in 1910 with both units offering 3 bedrooms, eat‑in kitchen, living room, and a full bath; Each unit has separate utilities, including natural gas heat and central air; Semi‑finished attic offers potential to add a 3rd unit
