Three-Unit Property with
New
For Sale
$350,000
205 Lombard St, New Haven, CT 06513
Three separate residences feature one-bedroom layouts with living rooms and eat-in kitchens.
Property Size2,056 SF
Days on Market7
Property Features for 205 Lombard St
General Information
Standard status
Active
Size
2,056 SF
Total Parking Spaces
2
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
in need of aesthetic updates
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Building Size
2,056 SF
Year Built
1900
Listed By:
Andrea M. Viscuso · License #RES.0800667
(203) 627-7767
Source:
Elliman
Added: Sep 18
Changed: Sep 20
Last Checked: Sep 22 at 4:33PM
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 Andrea M. Viscuso
Investment Insights
Based on property information with market context.
Built in 1900, this triplex contains three distinct residential units. Each unit includes 1 bedroom, 1 full bathroom, a living room, and an eat-in kitchen, creating a consistent layout across the property. The building requires aesthetic updating, allowing the next owner to address finishes and personalize the interiors. Total configuration is 3 bedrooms and 3 full bathrooms.
A detached 2-car garage provides on-site parking and storage. The property is located at 205 Lombard St in New Haven, near Downtown New Haven, Yale University, Yale New Haven Hospital, Wooster Square restaurants, parks, shopping, and entertainment. I-91, I-95, and Union Station are also accessible from the property. WalkScore is 48, TransitScore is 42, and BikeScore is 38.
A detached 2-car garage provides on-site parking and storage. The property is located at 205 Lombard St in New Haven, near Downtown New Haven, Yale University, Yale New Haven Hospital, Wooster Square restaurants, parks, shopping, and entertainment. I-91, I-95, and Union Station are also accessible from the property. WalkScore is 48, TransitScore is 42, and BikeScore is 38.
Key Highlights
- Triplex with 3 separate residential units
- Each unit offers 1 bedroom, 1 full bathroom, living room, and eat‑in kitchen
- 3 bedrooms and 3 full bathrooms in total
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
$32,203
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
9.20%
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%
$644,060
$644.1K
Cap Rate 7%
$460,043
$460.0K
Cap Rate 9%
$357,811
$357.8K
Market Conditions
NOI Build-Up for 2,056 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
$62.4K $30.36/SF
− Vacancy
−$3.9K −$1.88/SF
EGI
$58.6K $28.48/SF
− OpEx
−$26.3K −$12.81/SF
NOI
$32.2K $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%
$644,060
Cap Rate 7%
$460,043
Cap Rate 9%
$357,811
Alternative Uses
Best Use
Multifamily LT 5
$494.4K
$432.6K – $576.8K
NOI $34,606 @ 7.0% cap · market cap 9.89%
Second Best
Apartment 5plus
$460.0K
$402.5K – $536.7K
NOI $32,203 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$661.4K
$578.7K – $771.6K
NOI $46,296 @ 7.0% cap · market cap 13.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
962
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
Median Home Value
Check the figures for this property
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 separate residences feature one-bedroom layouts with living rooms and eat-in kitchens.
Where is this triplex located?
The property is located at 205 Lombard St New Haven, CT.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Triplex with 3 separate residential units; Each unit offers 1 bedroom, 1 full bathroom, living room, and eat‑in kitchen; 3 bedrooms and 3 full bathrooms in total
