Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    251 Lawrence St New Haven, CT 06511-2489

    • Residential income homes
    • 4,018 SF
    • 0.18 lot acres
    OFF-MARKET
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US15-1035451
    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

    • Residential income homes

    Property Details for 251 Lawrence St

    Year built
    1900
    Lot size
    0.18 lot acres
    Property size
    4,018 SF
    Zone code
    RM1
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    NHVN M:220 B:0413 L:02000
    APU
    NHVNM220B0413L02000

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $629,000
      Market price range: $267k - $757k
      AI Estimate
      $427,000
      Market price range: $267k - $453k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $505,000
      Current use
      COMMERCIAL (GENERAL)
      $490,000
      Change: -3% Conversion: Moderate
      OFFICE BUILDING
      $435,000
      Change: -14% Conversion: Moderate
      RETAIL STORES
      $425,000
      Change: -16% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    New Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.9172
    Latitude
    41.3205
    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
    $18,960
    $227,710
    $281,960
    $509,670
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1,243 SF

      220 Ashmun St

      APARTMENT HOUSE (UNDER 5 UNITS) • 1,243 SF
      220 Ashmun St, New Haven, CT 06511-3550
      View Details
    • Value Estimation
      $520,000
      2,942 SF

      200 Shelton Ave

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,942 SF
      200 Shelton Ave, New Haven, CT 06511-1882
      View Details
    • Value Estimation
      $1,060,000
      3,499 SF

      111 Howe St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,499 SF
      111 Howe St, New Haven, CT 06511-7001
      View Details
    • Value Estimation
      $640,000
      3,968 SF

      57 Lawrence St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,968 SF
      57 Lawrence St, New Haven, CT 06511-2649
      View Details
    • Value Estimation by Request
      3,834 SF

      64 Grace St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,834 SF
      64 Grace St, New Haven, CT 06511-2747
      View Details
    • Value Estimation
      $530,000
      3,276 SF

      415 Orange St

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,276 SF
      415 Orange St, New Haven, CT 06511-6467
      View Details

    Similar Nearby for Sale

    • $1,475,000
      Pending

      East Rock Multifamily Investment Opportunity

      Six-unit apartment building in East Rock, fully leased until 2026.
      317 Willow St, New Haven, CT 06511
      View Details
    • $4,600,000
      19,860 SF

      Restored Multifamily Asset in East Rock

      21-unit multifamily property in New Haven's desirable East Rock neighborhood.
      1435 State St, New Haven, CT 06511
      View Details
    • Contact for pricing

      Income-Producing Multifamily Property Near Yale

      Multifamily property with 8 units near Yale Hospital.
      290 Sherman Ave, New Haven, CT 06511
      View Details
    • $599,900
      3,980 SF

      Mixed-Use Property with Rental Apartments

      Storefront with multi-unit apartments and licenses included.
      578 Winchester Ave, New Haven, CT 06511
      View Details
    • $385,000
      4,598 SF

      Victorian Multifamily with Expansion Potential

      Victorian four-family with potential for five units near downtown.
      262 Sherman Ave, New Haven, CT 06511
      View Details
    • Contact for pricing

      Spacious Apartment in Central Location

      Bright 3-bedroom apartment near Yale, downtown, and hospitals.
      745 George St, New Haven, CT 06511
      View Details

    Similar Nearby for Lease

    • $2,100 /Mo

      East Rock One Bedroom Apartment

      Bright, sunny one-bedroom apartment with parking and garden patio.
      188 Cold Spring St, New Haven, CT 06511
      View Details
    • $3,600 /Mo

      Renovated Apartment Near Downtown New Haven

      Newly renovated 3-bedroom apartment near Yale and Downtown New Haven.
      41 Howe St, New Haven, CT 06511
      View Details
    • $1,650 /Mo

      Apartment Near SCSU and Downtown

      Two-bedroom apartment near SCSU with off-street parking.
      457 Whalley Ave, New Haven, CT 06511
      View Details
    • $3,500 /Mo

      Luxury Penthouse in Wooster Square

      Stunning penthouse in historic Wooster Square with premium finishes.
      234 Greene St, New Haven, CT 06511
      View Details
    • $2,650 /Mo

      Wooster Square Multifamily Redesign

      Six-unit building near Wooster Square Park with modern amenities.
      177 Chestnut St, New Haven, CT 06511
      View Details
    • $1,850 /Mo

      Two-Bedroom Apartment with Natural Light

      Second-floor apartment featuring two bedrooms and abundant natural light.
      175 Humphrey St, New Haven, CT 06511
      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.
    251 Lawrence St
    New Haven, CT 06511-2489
    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.
    Sign Up Successful!
    You now have access to more from Realmo!