Maintained Three-Unit
New
For Sale
$549,900
Pending
1045 Campbell Ave, West Haven, CT 06516
Three residential units offer distinct layouts, separate utilities, basement laundry hookups, and off-street parking.
Property Size3,087 SF
Days on Market7
Property Features for 1045 Campbell Ave
General Information
Standard status
Pending
Size
3,087 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Building Size
3,087 SF
Year Built
1920
Stories
3
Tenancy
Multi
Listing Agency:
Press/Cuozzo Realtors
(203) 996-2265
Listed By:
Dave S. Candido
(203) 996-2265
Source:
Elliman
Added: Aug 2
Changed: Aug 8
Last Checked: Aug 8 at 10:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Press/Cuozzo Realtors
Investment Insights
Based on property information with market context.
This 3,000+ square-foot triplex, built in 1920, contains three residential units with separate utilities and a dedicated house electrical meter. The first and second floors each provide five rooms, three bedrooms, and one full bath. A private third-floor unit adds four rooms, two bedrooms, and one full bath. Newer vinyl replacement windows are installed throughout, while the basement includes three separate laundry hookups.
The property includes ample off-street parking and a detached three-car garage. Its setting near the VA Hospital and UNH places the building close to institutional anchors, local shops, parks, and eateries. I-95 is moments away for regional travel. BikeScore is 45 and WalkScore is 61.
The property includes ample off-street parking and a detached three-car garage. Its setting near the VA Hospital and UNH places the building close to institutional anchors, local shops, parks, and eateries. I-95 is moments away for regional travel. BikeScore is 45 and WalkScore is 61.
Key Highlights
- 3,000+ square‑foot triplex built in 1920
- Three units with separate utilities and a dedicated house electrical meter
- First and second floors each offer 5 rooms, 3 bedrooms, and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$48,351
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$967,020
$967.0K
Cap Rate 7%
$690,729
$690.7K
Cap Rate 9%
$537,233
$537.2K
Market Conditions
NOI Build-Up for 3,087 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$93.7K $30.36/SF
− Vacancy
−$5.8K −$1.88/SF
EGI
$87.9K $28.48/SF
− OpEx
−$39.6K −$12.81/SF
NOI
$48.4K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$967,020
Cap Rate 7%
$690,729
Cap Rate 9%
$537,233
Alternative Uses
Best Use
Multifamily LT 5
$742.3K
$649.5K – $866.0K
NOI $51,960 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$690.7K
$604.4K – $805.9K
NOI $48,351 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$993.0K
$868.9K – $1.16M
NOI $69,511 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer distinct layouts, separate utilities, basement laundry hookups, and off-street parking.
Where is this triplex located?
The property is located at 1045 Campbell Ave West Haven, CT.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 3,000+ square‑foot triplex built in 1920; Three units with separate utilities and a dedicated house electrical meter; First and second floors each offer 5 rooms, 3 bedrooms, and 1 full bath
