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Property profile & analytics
OFF-MARKET
Estimated value
$12,645,000
Apartment buildings
240 Congress Ave New Haven, CT 06519-1400
Entity Owned
7-yr Hold
Absentee Owner
Property ID
US15-0806274
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2020
Total area
110,146 SF
Lot
0.73 ac (31,598 SF)
APN
NHVN M:263 B:0126 L:00600
UPID
US15-0806274
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
Current use
Occupant on record · Public records
-
The Maddox at City Crossing Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.96M
Blend (final)
Blend
$12.65M
Owner & transaction history
Rms Congress Ave LLC · 7 yrs held
Rms Congress Ave LLC
since 2018
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$16.1M
+52.2%
Office building
$11.9M
+12.4%
Retail stores
$11.7M
+10.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,585,000
Current use
RESTAURANT
$16,105,000
Change: +52% · Conversion: Difficult
OFFICE BUILDING
$11,890,000
Change: +12% · Conversion: Moderate
RETAIL STORES
$11,705,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$10,595,000
Change: +0% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,990,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$12.65M
Range $11.38M – $13.91M · ±10%
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
$115 / 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
$585,176
Tax year 2024
Assessed value
$15,199,380
Assessed 2024
Previous assessed
$15,199,380
+0.0% YoY
Effective rate
3.85%
On assessed value
Assessed land
$2,835,000
Assessed improvement
$12,364,380
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
2020
Heating
FORCED AIR
Cooling
YES
Buildings
1
Stories
6
Units
90
Rooms
393
Bathrooms
122
Total area
110,146 SF
Lot
0.73 ac (31,598 SF)
APN
NHVN M:263 B:0126 L:00600
UPID
US15-0806274
Jurisdiction
NEW HAVEN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$10.6M
RESTAURANT
Est. value
$16.1M
OFFICE BUILDING
Est. value
$11.9M
RETAIL STORES
Est. value
$11.7M
COMMERCIAL (GENERAL)
Est. value
$10.6M
AUTO REPAIR, GARAGE
Est. value
$10.0M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
2020
Heating
FORCED AIR
Cooling
Yes
Stories
6
Buildings
1
Units
90
Rooms
393
Bathrooms
122
Lot
0.73 ac
Current owner
From public records · entity-resolved
Rms Congress Ave LLC
Entity
Mailing address
1 LANDMARK SQ FL, STAMFORD, CT 06901-2603
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2018
$725,000
Rms Congress Ave LLC
New Haven City Of
Quit Claim Deed
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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