Updated Three-Unit
New
For Sale
$529,000
44 Sixth St, New Haven, CT 06519
Three separately metered apartments offer refreshed interiors and a flexible mix of two-bedroom and studio-style layouts.
Property Size2,814 SF
Days on Market6
Property Features for 44 Sixth St
General Information
Standard status
Active
Size
2,814 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/studio
Multifamily Units
3
Building Details
Building Size
2,814 SF
Year Built
1915
Buildings
1
Stories
3
Listed By:
Dana M. Gibson
(860) 575-3714
Source:
Elliman
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 24 at 12:33PM
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 Dana M. Gibson
Investment Insights
Based on property information with market context.
This 1915 triplex contains three separate apartments totaling 5 bedrooms and 3 full bathrooms. The first and second floors each have a 2-bedroom, 1-bath unit, while the third floor provides a 1-bedroom/studio-style apartment. Each unit is separately metered, supporting distinct utility accounting across the property.
Recent improvements include remodeled bathrooms on the second and third floors, vinyl hardwood-style flooring throughout all three apartments, new paint on every floor, and professional cleaning. The property is located at 44 Sixth St in New Haven's Oyster Point Historic District, which is listed on the National Register. Walk Score is 80, Bike Score is 60, and Transit Score is 55.
Recent improvements include remodeled bathrooms on the second and third floors, vinyl hardwood-style flooring throughout all three apartments, new paint on every floor, and professional cleaning. The property is located at 44 Sixth St in New Haven's Oyster Point Historic District, which is listed on the National Register. Walk Score is 80, Bike Score is 60, and Transit Score is 55.
Key Highlights
- Three‑unit triplex with 5 bedrooms and 3 full bathrooms
- First- and second‑floor apartments each offer 2 bedrooms and 1 bath
- Third‑floor 1‑bedroom/studio‑style apartment
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
$47,365
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
8.95%
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%
$947,300
$947.3K
Cap Rate 7%
$676,643
$676.6K
Cap Rate 9%
$526,278
$526.3K
Market Conditions
NOI Build-Up for 2,814 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
$72.6K $25.80/SF
− Vacancy
−$4.9K −$1.75/SF
EGI
$67.7K $24.05/SF
− OpEx
−$20.3K −$7.21/SF
NOI
$47.4K $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%
$947,300
Cap Rate 7%
$676,643
Cap Rate 9%
$526,278
Alternative Uses
Best Use
Multifamily LT 5
$676.6K
$592.1K – $789.4K
NOI $47,365 @ 7.0% cap · market cap 8.95%
Second Best
Apartment 5plus
$629.6K
$550.9K – $734.6K
NOI $44,075 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$905.2K
$792.1K – $1.06M
NOI $63,364 @ 7.0% cap · market cap 11.98%
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
608
Businesses Nearby
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Business Placement
Demographics for 06519, CT
15,450
Population
6,424
Households
2.4
Avg Household Size
33
Median Age
20%
College-Educated
77%
High-School Grad
1.8 sq mi
ZIP Area
8,583
Density / Sq Mi
$44,394
Median Household Income
$29,745
Median Earnings
$1,356
Median Rent
$247,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three separately metered apartments offer refreshed interiors and a flexible mix of two-bedroom and studio-style layouts.
Where is this triplex located?
The property is located at 44 Sixth St New Haven, CT.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Three‑unit triplex with 5 bedrooms and 3 full bathrooms; First- and second‑floor apartments each offer 2 bedrooms and 1 bath; Third‑floor 1‑bedroom/studio‑style apartment
