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278 Exchange Street 278 Exchange St

2 Unit Apartment Building $269,000 ($134,500/Unit) 5.03% Cap Rate New Haven, CT 06513

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Investment Highlights

Value Add Opportunity
Below Market Rents

Possible Conversion to 3 Units

Executive Summary

Large 2 Unit in Fair Haven! Possible conversion to 3 units possible, first floor is 2 bed 1 bath, second and third floors consist of 4 beds and 1 bath. Great for investors or owner occupants. Private driveway with off street parking, natural gas heat and hot water, separate utilities, easy to manage! POF or Pre-Approval letter required.
Showings are every Saturday at 10am. POF or Pre-Approval letter is required prior to showing being confirmed. Please email to zack.jburnett@gmail.com For any questions please reach out to Zack's cell: 860.305.7782

New Haven 278 Exchange Street Financial Analysis

Financial Summary (Actual - 2022)	Annual	Annual Per SF
Gross Rental Income	$26,280	$11.10
Other Income	-	-
Vacancy Loss	$1,314	$0.56
Effective Gross Income	$24,966	$10.55
Taxes	$4,974	$2.10
Operating Expenses	$6,457	$2.73
Total Expenses	$11,431	$4.83
Net Operating Income	$13,535	$5.72

Financial Summary (Actual - 2022)

Gross Rental Income
Annual	$26,280
Annual Per SF	$11.10

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$1,314
Annual Per SF	$0.56

Effective Gross Income
Annual	$24,966
Annual Per SF	$10.55

Taxes
Annual	$4,974
Annual Per SF	$2.10

Operating Expenses
Annual	$6,457
Annual Per SF	$2.73

Total Expenses
Annual	$11,431
Annual Per SF	$4.83

Net Operating Income
Annual	$13,535
Annual Per SF	$5.72

Property Facts Under Contract

Price	$269,000	Apartment Style	Low Rise
Price Per Unit	$134,500	Lot Size	0.17 AC
Sale Type	Investment	Building Size	2,367 SF
Cap Rate	5.03%	No. Stories	3
No. Units	2	Year Built	1920
Property Type	Multifamily	Parking Ratio	2.11/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$269,000
Price Per Unit	$134,500
Sale Type	Investment
Cap Rate	5.03%
No. Units	2
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Lot Size	0.17 AC
Building Size	2,367 SF
No. Stories	3
Year Built	1920
Parking Ratio	2.11/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.