Brick Triplex With 4-Car
New
For Sale
$649,900
160 Elm Street, West Haven, CT 06516
Multi-Family For Sale, Units on different Floors, West Haven, CT
Property Size3,802 SF
Lot Size0.14 Acres
Price / SF$170.94
Days on Market2
Property Features for 160 Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Basement, Bathroom 3, Bedroom 4
Fireplace
1
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Campbell to elm
Subdivision
Savin Rock
Standard status
Active
Size
3,802 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11904
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
laundry hookups
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
Houlihan Lawrence WD
(203) 701-4848
Listed By:
Robert Fischer
(203) 494-7324
Added: Aug 29
Last Checked: Aug 30 at 12:06AM
MLS# 24202976
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 3,802-square-foot brick triplex in West Haven was built in 1920 and contains three two-bedroom, one-bath apartments. The first-floor residence spans more than 1,400 square feet and includes a large living room with hardwood flooring and a wood-burning fireplace, along with an office, formal dining room, and kitchen equipped with granite counters, a substantial island, and a gas cooktop. Gas heat and gas hot water serve the building, while laundry hookups are located in the basement.
The property includes a four-car garage, separate utilities, public water, and public sewer. It is positioned at 160 Elm Street, with access described as a few minutes from I-95, the University of New Haven, the VA, Yale, and downtown New Haven. R4 zoning applies to the property.
The property includes a four-car garage, separate utilities, public water, and public sewer. It is positioned at 160 Elm Street, with access described as a few minutes from I-95, the University of New Haven, the VA, Yale, and downtown New Haven. R4 zoning applies to the property.
Key Highlights
- 3,802 SF brick triplex built in 1920
- Three fully occupied two‑bedroom, one‑bath units
- Four‑car garage with separate utilities
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
Multi-tenant
Tenancy
Yes
Highway access
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
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with separate utilities and basement laundry hookups.
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: 3,802 SF brick triplex built in 1920; Three fully occupied two‑bedroom, one‑bath units; Four‑car garage with separate utilities
