Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Thompson Avenue Triplex Investment Opportunity Title is generated by Realmo AI

    429 Thompson Ave, East Haven, CT 06512

    View on Map
    Claim this Listing
    For Sale
    $489,000

    Well-maintained triplex near Town Green and Main Street.

    Type:Multi Family
    Added:
    Apr 15, 2026
    Days on Market:
    47
    Last Refresh:
    Apr 13 at 6:15 am

    Property Features for 429 Thompson Ave

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1910

    We can help!

    Listing Contact
    Eric Ryalls

    Listing agent Eric Ryalls

    Listing office William Pitt Sotheby's International Realty

    Listing date Apr 15, 2026

    Source Elliman

    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 William Pitt Sotheby's International Realty

    HighLights

    • Prime central location steps from Town Green and Main Street
    • High‑end, efficient Viessmann heating and new Navien instant hot water systems
    • Relatively new roof (approximately 8 years old)
    • Versatile layout with a large 1,000 sq ft, 2‑bedroom unit and two 500 sq ft, 1‑bedroom units
    • Second‑floor units feature new flooring and modern interior updates
    • Large, level backyard providing a private outdoor area

    Overview

    Located near the Town Green and Main Street, this three-family property at 429 Thompson Avenue presents an investment opportunity or owner-occupant residence. The building features Viessmann heating and Navien instant hot water systems. The roof is approximately eight years old. The property includes one expansive unit on the first floor and two units on the second floor. The first-floor residence offers approximately 1,000 square feet of living space with two bedrooms and one full bathroom. The two additional units are approximately 500 square feet each, both configured as one-bedroom, one-bathroom apartments. These second-floor units have been recently enhanced with new flooring and modern interior updates. The property boasts a large, level backyard. Its proximity to local shopping, dining, and community amenities makes it a location for renters. The bike score is 50, making it bikeable. The walk score is 78, making it very walkable. The transit score is 32, indicating some transit options.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Haven
    County
    New Haven
    State
    Connecticut
    Longitude
    -72.876008
    Latitude
    41.2723549

    Nearby Similar for Sale

    • $499,000
      2,484 SF

      Remodeled Two-Family Home

      Updated two-family home with modern amenities and convenient location.
      3 Carmen Street, East Haven, CT 06512
      View Details
    • $649,900

      High-Visibility Multi-Tenant Asset

      Prime commercial property near Town Green and Trolley Square.
      274 Hemingway Ave, East Haven, CT 06512
      View Details
    • $649,900
      5,312 SF

      High-Visibility Multi-Tenant Asset

      Prime commercial real estate with exceptional ROI potential.
      274 Hemingway Avenue, East Haven, CT 06512
      View Details
    • $750,000

      Restaurant and Bar Business Opportunity

      Profitable restaurant and bar with real estate included for sale.
      672 Main Street, East Haven, CT 06512
      View Details
    • $750,000

      Profitable Restaurant and Bar Investment

      Established restaurant and bar generating immediate income with real estate.
      672 Main St, East Haven, CT 06512
      View Details
    • $250,000
      1,150 SF

      East Haven Office Space For Sale

      Office space in East Haven, leased until May 2026.
      64 Thompson Street, East Haven, CT 06513
      View Details
    • $1,650,000
      2,139 SF

      East Haven Commercial Corner Property

      Commercial building on Main Street, East Haven, suitable for gas/auto.
      356 Main Street, East Haven, CT 06512
      View Details
    • $675,000

      Detached 2-Family Home with Pool

      Spacious, versatile 2-family home with in-ground pool and new appliances.
      53 Moulthrop St, East Haven, CT 06512
      View Details
    • $489,000
      2,004 SF

      Well-Maintained Triplex Near Town Green

      Three-family property near Town Green with high-end mechanical upgrades.
      429 Thompson Avenue, East Haven, CT 06512
      View Details
    • $2,350,000
      11,240 SF

      Retail Building with Drive-Thru

      11,240 SF retail building with drive-thru on 1.28 acres.
      10 Hemingway Ave, East Haven, CT
      View Details
    • $250,000
      1,150 SF

      East Haven Office Space Available

      Office space for sale, ideal for medical or professional services.
      64 Thompson Street #B102, East Haven, CT 06513
      View Details
    • $1,200,000

      Two Buildings on Hemingway Avenue

      Two well-maintained buildings with immediate cash flow and growth potential.
      66 Hemingway Ave, East Haven, CT 06512
      View Details

    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex near Town Green and Main Street.
    Where is this triplex located?
    The property is located at 429 Thompson Ave East Haven, CT.
    What is the asking price?
    The asking price for this property is $489,000.
    What are key features of this property?
    This property features: Prime central location steps from Town Green and Main Street; High‑end, efficient Viessmann heating and new Navien instant hot water systems; Relatively new roof (approximately 8 years old)
    (203) 682-5676
    We can help!
    Listing Contact
    Eric Ryalls
    Learn More
    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.
    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

    Thank You for Inquiry
    429 Thompson Ave, East Haven, CT 06512
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!