Triplex with Heated In-Ground
New
For Sale
$1,385,000
621 Chapel St, New Haven, CT 06511
Restored historic triplex with three two-level units, central air, and in-unit washers and dryers, plus a heated in-ground pool.
Days on Market5
Property Features for 621 Chapel St
General Information
Standard status
Active
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Amenities
in-ground pool
central air conditioning
washers & dryers
Building Details
Building Size
6,000 SF
Year Built
1850
Buildings
1
Construction
Italian Villa-style
Tenancy
Multi
Listing Agency:
(203) 787-3434
Listed By:
Katherine Bennett
(203) 787-3434
Source:
Elliman
Added: Jul 28
Changed: Jul 29
Last Checked: Aug 1 at 5:27AM
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 Katherine Bennett
Investment Insights
Based on property information with market context.
Triplex (three-family) home in the Wooster Square Historic District with an Italian Villa-style exterior attributed to Henry Austin and built circa 1850. The exterior was restored in the 1960s using historic preservation techniques and materials. The interior was converted from a 1-family home to a 3-family configuration, preserving architectural detail while updating the layout for modern living.
All three units are two levels and centrally air-conditioned, and each unit includes a washer and dryer. The owner’s unit lower level features a renovated galley cook’s kitchen, dining room and living room with brick floors and walls, an extra room suitable for exercise or an office, and ample storage. The upper story includes a dramatic two-story entry and a restored front parlor.
The property also includes an outdoor stone patio and deck arrangement leading to a heated in-ground pool. BikeScore 98 and WalkScore 92 indicate a highly walkable and bike-friendly setting, with TransitScore 76.
All three units are two levels and centrally air-conditioned, and each unit includes a washer and dryer. The owner’s unit lower level features a renovated galley cook’s kitchen, dining room and living room with brick floors and walls, an extra room suitable for exercise or an office, and ample storage. The upper story includes a dramatic two-story entry and a restored front parlor.
The property also includes an outdoor stone patio and deck arrangement leading to a heated in-ground pool. BikeScore 98 and WalkScore 92 indicate a highly walkable and bike-friendly setting, with TransitScore 76.
Key Highlights
- Built circa 1850 Italian Villa‑style triplex attributed to Henry Austin
- Exterior restored in the 1960s using historic preservation techniques and materials
- Converted to a 3‑family configuration while preserving architectural ornament
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 | $154.8k | $25.80 |
| − Vacancy | −$10.5k | −$1.75 |
| EGI | $144.3k | $24.05 |
| − OpEx | −$43.3k | −$7.21 |
| NOI | $101.0k | $16.83 |
6,000 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.44M
$1.26M – $1.68M
NOI $100,992 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$1.34M
$1.17M – $1.57M
NOI $93,976 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,104 @ 7.0% cap · market cap 9.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
4,958
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
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Frequently Asked Questions
What type of property is this?
Triplex - Restored historic triplex with three two-level units, central air, and in-unit washers and dryers, plus a heated in-ground pool.
Where is this triplex located?
The property is located at 621 Chapel St New Haven, CT.
What is the asking price?
The asking price for this property is $1,385,000.
What are key features of this property?
This property features: Built circa 1850 Italian Villa‑style triplex attributed to Henry Austin; Exterior restored in the 1960s using historic preservation techniques and materials; Converted to a 3‑family configuration while preserving architectural ornament
