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Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Apartment buildings
221 Sherman Ave New Haven, CT 06518-2125
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US15-0111154
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1920
Total area
4,062 SF
Lot
0.21 ac (9,174 SF)
Zoning code
RM2
APN
NHVN M:318 B:0263 L:00200
UPID
US15-0111154
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$550k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$585k
Owner & transaction history
Abcd Homes De LLC · 3 yrs held
Abcd Homes De LLC
since 2022
Last sale
$625,000
7 recorded transactions
Zoning & alternative use
RM2 · New Haven, CT
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$500,000
+14.4%
Office building
$440,000
+0.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Haven submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Haven submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$535,000
ML approach
$550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$440,000
Current use
COMMERCIAL (GENERAL)
$500,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$440,000
Change: +0% · Conversion: Moderate
RETAIL STORES
$430,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$370,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±10% · vs last sale $625k (Dec 5 2022)
Last sale anchor
$625k
Dec 5 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$144 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$9,433
Tax year 2024
Assessed value
$245,000
Assessed 2024
Previous assessed
$245,000
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$40,950
Assessed improvement
$204,050
Applied tax rate
306.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1920
Heating
HOT WATER
Buildings
1
Stories
3
Units
6
Bathrooms
6
Total area
4,062 SF
Lot
0.21 ac (9,174 SF)
Zoning code
RM2
APN
NHVN M:318 B:0263 L:00200
UPID
US15-0111154
Jurisdiction
NEW HAVEN
Zoning & alternative use
RM2 · New Haven, CT
Zoning RM2 · permitted uses
RM2 · New Haven, CT
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Haven. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$440,000
COMMERCIAL (GENERAL)
Est. value
$500,000
OFFICE BUILDING
Est. value
$440,000
RETAIL STORES
Est. value
$430,000
AUTO REPAIR, GARAGE
Est. value
$370,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Heating
HOT WATER
Stories
3
Buildings
1
Units
6
Bathrooms
6
Lot
0.21 ac
Current owner
From public records · entity-resolved
Abcd Homes De LLC
Entity
Mailing address
221 SHERMAN AVE, HAMDEN, CT 06518-2125
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 5, 2022
$625,000
Abcd Homes De LLC
Jh Investments 1 LLC
Warranty Deed
—
Apr 1, 2021
—
Jh Investments 1 LLC
Mark Levine
Quit Claim Deed
related
$335,000 · Sikorsky Financial Credit Union INC
Jan 22, 2019
$320,000
Jh Investments 1 LLC
Mark Petrelis
Warranty Deed
$240,000 · Start Community Bank
Jul 15, 2014
—
Mark Petrelis
—
Deed Of Trust
related
$25,000 · Sand Properties LLC
Jul 22, 2008
—
Mark Petrelis
—
Deed Of Trust
related
$200,000 · Peoples Bank
Dec 1, 2006
$238,500
Mark Petrelis
Li,hui
Warranty Deed
—
Dec 4, 2003
$204,000
Hui Li
Leuine,mark
Warranty Deed
$163,200 · Bayview Fin'l Trading Group
Apr 1, 1997
—
Mark Levine
—
Deed Of Trust
related
$130,000 · Bank Of New Haven
Mar 22, 1988
$285,000
Mark Levine
Brancati,s J JR
Grant Deed
$240,000 · Bank Of Boston Ct
Jan 15, 1988
—
Salvatore Brancati JR
—
Deed Of Trust
related
$240,000 · Bank Of Boston Ct
Jun 3, 1987
$240,000
Salvatore Brancati
Ciarleglio,joseph
Grant Deed
—
—
—
Mark Petrelis
—
Deed Of Trust
related
$100,000 · Private Individual
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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