Rebuilt Triplex with Central
For Sale
$799,900
130 Hobart St, New Haven, CT 06511
Three residential units provide updated interiors, in-unit laundry, and access to central air conditioning.
Property Size3,103 SF
Days on Market13
Property Features for 130 Hobart St
General Information
Standard status
Active
Size
3,103 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR, 1 x 2BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
w/d
central air
Building Details
Building Size
3,103 SF
Year Built
1900
Listing Agency:
GRL and Realtors, LLC
(203) 494-1337
Listed By:
Jeffrey Granoff
(203) 494-1337
Source:
Elliman
Added: Aug 11
Changed: Aug 16
Last Checked: Aug 23 at 11:00AM
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 GRL and Realtors, LLC
Investment Insights
Based on property information with market context.
This three-unit residential property was rebuilt 10 years ago with updated electrical, plumbing, walls, ceilings, insulation, roofing, siding, kitchens, and bathrooms. The building dates to 1900 and includes two 3BR units on the first and second floors, plus a 2BR unit on the third floor. Each residence has a washer and dryer and central air conditioning.
The property is located at 130 Hobart St in New Haven, minutes from Downtown New Haven, Yale, the train, hospitals, and other amenities. Walk Score is 61, Bike Score is 42, and Transit Score is 41, reflecting somewhat walkable, somewhat bikeable, and some-transit access.
The property is located at 130 Hobart St in New Haven, minutes from Downtown New Haven, Yale, the train, hospitals, and other amenities. Walk Score is 61, Bike Score is 42, and Transit Score is 41, reflecting somewhat walkable, somewhat bikeable, and some-transit access.
Key Highlights
- Three‑unit property with two 3BR residences and one 2BR residence
- Rebuilt 10 years ago with new electrical, plumbing, insulation, roof, siding, kitchens, and baths
- All units include washer and dryer connections or equipment
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
$52,229
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
6.53%
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%
$1,044,580
$1.0M
Cap Rate 7%
$746,129
$746.1K
Cap Rate 9%
$580,322
$580.3K
Market Conditions
NOI Build-Up for 3,103 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
$80.1K $25.80/SF
− Vacancy
−$5.4K −$1.75/SF
EGI
$74.6K $24.05/SF
− OpEx
−$22.4K −$7.21/SF
NOI
$52.2K $16.83/SF
Area
New Haven, CT
Vacancy
6.80%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
30.00%
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%
$1,044,580
Cap Rate 7%
$746,129
Cap Rate 9%
$580,322
Alternative Uses
Best Use
Multifamily LT 5
$746.1K
$652.9K – $870.5K
NOI $52,229 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$694.3K
$607.5K – $810.0K
NOI $48,601 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$998.2K
$873.4K – $1.16M
NOI $69,871 @ 7.0% cap · market cap 8.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,091
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
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 provide updated interiors, in-unit laundry, and access to central air conditioning.
Where is this triplex located?
The property is located at 130 Hobart St New Haven, CT.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Three‑unit property with two 3BR residences and one 2BR residence; Rebuilt 10 years ago with new electrical, plumbing, insulation, roof, siding, kitchens, and baths; All units include washer and dryer connections or equipment
