Three-Unit Residential Income
117 Nicoll Street New Haven, CT 06511
For Sale
$950,000
Well-maintained three-apartment triplex features separate utilities and multiple finished living areas.
Property Size4,200 SF
Price / SF$226.19
Days on Market88
Property Features for 117 Nicoll Street
General Information
- Standard status
- Active
- Size
- 4,200 SF
- Property subtype
- Multi-Family / 3 Family
Building Details
- Year Built
- 1900
Listing Agency:
Betsy Grauer Realty, Inc
(203) 641-3003
Listed By:
Betsy Grauer · License #REB.0751445
(203) 641-3003
Source:
Compass
Added: Apr 27
Changed: Jul 23
Last Checked: Jul 23 at 11:44AM
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 Betsy Grauer Realty, Inc
Investment Insights
Based on property information with market context.
This three-unit residential income property includes three apartments with separate utilities, with tenants responsible for heat, cooking gas, hot water, and electric usage. The first-floor unit offers a living room, eat-in kitchen, two bedrooms, and a full bath, along with a stairway to a lower level containing two large finished rooms and an additional bath. The second-floor apartment includes a living room, kitchen, two bedrooms, and a bath. The third-floor unit is arranged across two levels and features multiple rooms, two bedrooms, and a bath, plus a staircase to the top floor with a sitting room and an additional room.
The property includes a one-car garage with a sizeable storage room behind it, and space for three cars in front of the garage. A wide yard with a patio provides outdoor living area. It is located near neighborhood cafes and markets, East Rock Park, and the Yale Shuttle.
Overall, the building’s unit layouts and separate utility arrangements are designed to support straightforward, independent tenant occupancy.
The property includes a one-car garage with a sizeable storage room behind it, and space for three cars in front of the garage. A wide yard with a patio provides outdoor living area. It is located near neighborhood cafes and markets, East Rock Park, and the Yale Shuttle.
Overall, the building’s unit layouts and separate utility arrangements are designed to support straightforward, independent tenant occupancy.
Key Highlights
- Well‑maintained 3‑family triplex with separate utilities for each apartment
- Year built 1900; interior includes 15 total rooms
- First‑floor unit: living room, eat‑in kitchen, 2 bedrooms, full bath, plus stairs to 2 large finished rooms and a bath
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.4k | $25.80 |
| − Vacancy | −$7.4k | −$1.75 |
| EGI | $101.0k | $24.05 |
| − OpEx | −$30.3k | −$7.21 |
| NOI | $70.7k | $16.83 |
4,200 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.01M
$883.7K – $1.18M
NOI $70,694 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$939.8K
$822.3K – $1.10M
NOI $65,783 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,573 @ 7.0% cap · market cap 9.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Well-maintained three-apartment triplex features separate utilities and multiple finished living areas.
Where is this triplex located?
The property is located at 117 Nicoll Street New Haven, CT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Well‑maintained 3‑family triplex with separate utilities for each apartment; Year built 1900; interior includes 15 total rooms; First‑floor unit: living room, eat‑in kitchen, 2 bedrooms, full bath, plus stairs to 2 large finished rooms and a bath
