Three-Unit Residential Income
131 Washington Avenue West Haven, CT 06516
131 Washington Avenue, West Haven, CT, 06516
$530,000
For Sale
$530,000
Three-family home with newly installed gas furnaces and off-street parking, with showings limited to set windows.
Property Size2,780 SF
Price / SF$190.65
Days on Market85
Property Features for 131 Washington Avenue
General Information
- Standard status
- Active
- Size
- 2,780 SF
- Property subtype
- 3 Family
Building Details
- Year Built
- 1920
Listing agency
RE/MAX Alliance
(203) 430-6817
Listed by
Cindy Puccino · License #555534
(203) 430-6817
Source
Lockandkeyre
Added: Apr 29 Updated: Jul 22 at 3:04AM Checked: Jul 22 at 3:04AM
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 RE/MAX Alliance
Investment Insights
Based on property information with market context.
This three-family residential income property consists of a maintained, nicely presented triplex configuration. The home includes all new gas furnaces installed, supporting continued comfort and operational reliability across the units.
The property offers plenty of off-street parking. Showings are limited to Saturday 10-2 and Wednesday 4-5 only, with no exceptions.
The seller notes the possibility that flood insurance may be required. The public remarks also indicate convenient commuting access to New Haven colleges, schools, hospitals, the train station, and Tweed New Haven Airport.
The property offers plenty of off-street parking. Showings are limited to Saturday 10-2 and Wednesday 4-5 only, with no exceptions.
The seller notes the possibility that flood insurance may be required. The public remarks also indicate convenient commuting access to New Haven colleges, schools, hospitals, the train station, and Tweed New Haven Airport.
Key Highlights
- 3‑family home built in 1920
- All new gas furnaces installed
- Plenty of off‑street parking
Local 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 | $71.7k | $25.80 |
| − Vacancy | −$4.9k | −$1.75 |
| EGI | $66.8k | $24.05 |
| − OpEx | −$20.1k | −$7.21 |
| NOI | $46.8k | $16.83 |
2,780 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$668.5K
$584.9K – $779.9K
NOI $46,793 @ 7.0% cap · market cap 8.83%
Second Best
Apartment 5plus
$622.0K
$544.3K – $725.7K
NOI $43,542 @ 7.0% cap · market cap 8.22%
Theoretical Best
Office A
$894.3K
$782.5K – $1.04M
NOI $62,598 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three-family home with newly installed gas furnaces and off-street parking, with showings limited to set windows.
Where is this triplex located?
The property is located at 131 Washington Avenue West Haven, CT.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 3‑family home built in 1920; All new gas furnaces installed; Plenty of off‑street parking
