Brick Triplex with Four-Car
New
For Sale
$649,900
160 Elm Street, West Haven, CT 06516
Fully occupied three-unit property with separate utilities, basement laundry hookups, and a well-equipped first-floor residence.
Property Size3,802 SF
Price / SF$170.94
Days on Market4
Property Features for 160 Elm Street
General Information
Standard status
Active
Size
3,802 SF
Total Parking Spaces
4
Property subtype
3 Family
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
wood burning fireplace
laundry hookups
Building Details
Year Built
1920
Stories
3
Construction
brick
Listing Agency:
Houlihan Lawrence WD
(203) 494-7324
Listed By:
Robert Fischer
(203) 494-7324
Source:
Lockandkeyre
Added: Aug 29
Changed: Aug 31
Last Checked: Aug 31 at 2:13PM
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 Houlihan Lawrence WD
Investment Insights
Based on property information with market context.
Built in 1920, this brick triplex contains three two-bedroom, one-bath units and is fully occupied. Each unit has separate utilities. The first-floor residence offers over 1400 SqFt with a large living room featuring hardwood floors and a wood-burning fireplace, plus an office, formal dining room, and kitchen with granite counters, a substantial island, and gas cooktop. Gas heat and gas hot water serve the property, while laundry hookups are located in the basement. A four-car garage provides dedicated vehicle storage.
The property is situated at 160 Elm St in West Haven, near I95, UNH, VA, Yale, and downtown New Haven. WalkScore is 80, BikeScore is 60, and TransitScore is 55.
The property is situated at 160 Elm St in West Haven, near I95, UNH, VA, Yale, and downtown New Haven. WalkScore is 80, BikeScore is 60, and TransitScore is 55.
Key Highlights
- Fully occupied brick triplex with three 2 bedroom, 1 bath units
- Four‑car garage and separate utilities for all units
- First‑floor unit exceeds 1400 SqFt and includes office and formal dining room
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
$59,550
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
9.16%
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%
$1,191,000
$1.2M
Cap Rate 7%
$850,714
$850.7K
Cap Rate 9%
$661,667
$661.7K
Market Conditions
NOI Build-Up for 3,802 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
$115.4K $30.36/SF
− Vacancy
−$7.2K −$1.88/SF
EGI
$108.3K $28.48/SF
− OpEx
−$48.7K −$12.81/SF
NOI
$59.5K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,191,000
Cap Rate 7%
$850,714
Cap Rate 9%
$661,667
Alternative Uses
Best Use
Multifamily LT 5
$914.2K
$799.9K – $1.07M
NOI $63,995 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$850.7K
$744.4K – $992.5K
NOI $59,550 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,611 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,615
Businesses Nearby
Explore this area
Business Placement
Demographics for 06516, CT
55,584
Population
21,884
Households
2.5
Avg Household Size
38
Median Age
29%
College-Educated
88%
High-School Grad
10.8 sq mi
ZIP Area
5,147
Density / Sq Mi
$73,566
Median Household Income
$41,123
Median Earnings
$1,389
Median Rent
$265,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with separate utilities, basement laundry hookups, and a well-equipped first-floor residence.
Where is this triplex located?
The property is located at 160 Elm Street West Haven, CT.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Fully occupied brick triplex with three 2 bedroom, 1 bath units; Four‑car garage and separate utilities for all units; First‑floor unit exceeds 1400 SqFt and includes office and formal dining room
