Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    193 Farren Ave New Haven, CT 06513

    • Residential income homes
    • 3,132 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Apr 07, 2021
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-0221796
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Mercy Studios / Recording Studio

    Property Details for 193 Farren Ave

    Year built
    1910
    Lot size
    0.08 lot acres
    Property size
    3,132 SF
    Zone code
    RM2
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    NHVN M:084 B:0993 L:01100
    APU
    NHVNM084B0993L01100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.8919
    Latitude
    41.2997
    CBSA code
    35300
    CBSA name
    NEW HAVEN-MILFORD, CT METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,914
    $38,430
    $174,300
    $212,730
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      3,883 SF

      467 Quinnipiac Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,883 SF
      467 Quinnipiac Ave, New Haven, CT 06513-4459
      View Details
    • Value Estimation by Request
      3,332 SF

      140 Saltonstall Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,332 SF
      140 Saltonstall Ave, New Haven, CT 06513-4200
      View Details
    • Value Estimation by Request
      5,088 SF

      322 Grand Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 5,088 SF
      322 Grand Ave, New Haven, CT 06513-3728
      View Details
    • Value Estimation by Request
      3,472 SF

      213 Fry St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,472 SF
      213 Fry St, New Haven, CT 06513-3850
      View Details
    • Value Estimation by Request
      3,379 SF

      13 Clay St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,379 SF
      13 Clay St, New Haven, CT 06513-3602
      View Details
    • Value Estimation by Request
      3,640 SF

      75 Weybosset St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,640 SF
      75 Weybosset St, New Haven, CT 06513-1021
      View Details

    Similar Nearby for Sale

    • $1,375,000

      New Multifamily Building For Sale

      New construction multifamily building with seven units, ready for occupancy.
      12 east Ferry St, New Haven, CT 06513
      View Details
    • $229,900

      East Haven Condo with Updates

      Updated condo with granite kitchen, spacious rooms, and convenient location.
      55 Thompson St, East Haven, CT 06513
      View Details
    • $500,000

      Spacious Multifamily Property in New Haven

      Updated 5-bedroom multifamily property in desirable New Haven neighborhood.
      71 Houston St, New Haven, CT 06513
      View Details
    • $749,900

      New Haven Multifamily Investment Property

      Well-maintained six-unit property near downtown New Haven.
      111 Chapel St, New Haven, CT 06513
      View Details
    • $264,950
      1,228 SF

      Historic Loft with Water Views

      Unique 2-bed, 2-bath loft in New Haven's Bottling Works.
      1 Front St, New Haven, CT 06513
      View Details
    • $1,200,000

      New Haven Multifamily Investment Opportunity

      Rare 9-unit multifamily with value-add potential in New Haven.
      373 Blatchley Ave, New Haven, CT 06513
      View Details

    Similar Nearby for Lease

    • $1,400 /Mo

      Apartment with Quinnipiac River Views

      One-bedroom apartment with river views, available November 15.
      535 Quinnipiac Ave, New Haven, CT 06513
      View Details
    • $2,000 /Mo

      Updated Apartment in Fair Haven

      Recently updated 3-bedroom apartment, convenient location.
      199 English St, New Haven, CT 06513
      View Details
    • $1,600 /Mo

      Two Bedroom Apartment For Rent

      First floor, two-bedroom apartment available for immediate occupancy.
      199 Saltonstall Ave, New Haven, CT 06513
      View Details
    • $1,650 /Mo

      Renovated Apartment Near Transportation

      Modern 2-bedroom apartment with updated appliances and convenient location.
      70 Farren Ave, New Haven, CT 06513
      View Details
    • $1,725 /Mo

      New Construction One-Bedroom Apartment

      First-floor apartment with modern amenities, includes heat, ready now.
      724 Middletown Ave, New Haven, CT 06513
      View Details
    • $1,700 /Mo

      Updated Apartment with Parking

      Newly updated 2-bedroom apartment with parking and pet-friendly policy.
      1275 Quinnipiac Ave W-19, New Haven, CT 06513
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    193 Farren Ave
    New Haven, CT 06513
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.