Rebuilt Three-Unit Multifamily
For Sale
$799,900
130 Hobart Street, New Haven, CT 06511
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size3,103 SF
Lot Size0.11 Acres
Price / SF$257.78
Days on Market48
Property Features for 130 Hobart Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 3, Basement, Bedroom 1
Parking
3
Patio and Porch features
Porch
Exterior features
Porch
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
James Hillhouse
Directions
Whalley to Hobart
Standard status
Active
Size
3,103 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
11726
Utilities
Sewer type
Public Sewer
Cooling system
Central Air
Water source
Public
Amenities
w/d
central air
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
GRL & Realtors, LLC
(203) 781-0000
Listed By:
Jeffrey Granoff
(203) 494-1337
Added: Aug 10
Changed: Sep 13
Last Checked: Sep 26 at 12:06PM
MLS# 24197949
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains 3,103 square feet on a 0.11-acre lot. The first and second floors each contain a three-bedroom residence, while the third floor offers a two-bedroom unit. Each apartment includes a washer and dryer along with central air conditioning, and the property also features a porch.
The building was completely rebuilt 10 years ago, with updates to the electrical, plumbing, walls, ceilings, insulation, roof, siding, kitchens, and bathrooms. Public water and public sewer serve the property, which is zoned RM2.
The location provides access to Downtown New Haven, Yale, the train, hospitals, and other area amenities. The property was originally built in 1900.
The building was completely rebuilt 10 years ago, with updates to the electrical, plumbing, walls, ceilings, insulation, roof, siding, kitchens, and bathrooms. Public water and public sewer serve the property, which is zoned RM2.
The location provides access to Downtown New Haven, Yale, the train, hospitals, and other area amenities. The property was originally built in 1900.
Key Highlights
- Three‑unit multifamily property with two 3‑bedroom apartments and one 2‑bedroom apartment
- 3,103 square feet on a 0.11‑acre lot
- Complete rebuild 10 years ago, including electrical, plumbing, roof, siding, kitchens, and baths
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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 include two three-bedroom layouts, one two-bedroom layout, central air, and washer-dryer hookups.
Where is this triplex located?
The property is located at 130 Hobart Street 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 multifamily property with two 3‑bedroom apartments and one 2‑bedroom apartment; 3,103 square feet on a 0.11‑acre lot; Complete rebuild 10 years ago, including electrical, plumbing, roof, siding, kitchens, and baths
