Remodeled Triplex with Fenced
New
For Sale
$450,000
212 Newhall St, New Haven, CT 06511
Three-unit residence with refreshed interiors, stainless appliances, and enclosed outdoor areas.
Property Size1,831 SF
Price / SF$245.90
Days on Market4
Property Features for 212 Newhall St
General Information
Standard status
Active
Size
1,831 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Amenities
covered front porch
fenced backyard
Building Details
Building Size
1,831 SF
Year Built
1910
Buildings
1
Listing Agency:
(347) 634-2123
Listed By:
Mark Mermelstein · License #RES.0811095
(347) 634-2123
Source:
Elliman
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 10 at 6:10AM
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 Mark Mermelstein
Investment Insights
Based on property information with market context.
This 1,830-square-foot triplex, built in 1910, has undergone recent remodeling across its three residential units. Interior updates include kitchens and bathrooms, newer flooring, stainless steel appliances, and bright living areas. Vinyl siding adds to the exterior improvements, while a covered front porch provides additional outdoor space.
The property includes a fenced driveway and a flat, fenced backyard. Its New Haven setting is near Yale, Science Park, major highways, shopping, restaurants, and other city amenities. Walk Score is 66, Bike Score is 82, and Transit Score is 41, providing measurable access to walking, cycling, and public transportation options.
The property includes a fenced driveway and a flat, fenced backyard. Its New Haven setting is near Yale, Science Park, major highways, shopping, restaurants, and other city amenities. Walk Score is 66, Bike Score is 82, and Transit Score is 41, providing measurable access to walking, cycling, and public transportation options.
Key Highlights
- Three‑unit triplex with approximately 1,830 square feet
- Recently remodeled kitchens and bathrooms with newer flooring
- Stainless steel appliances and bright interior spaces
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
$30,802
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
6.84%
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%
$616,040
$616.0K
Cap Rate 7%
$440,029
$440.0K
Cap Rate 9%
$342,244
$342.2K
Market Conditions
NOI Build-Up for 1,830 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
$47.2K $25.80/SF
− Vacancy
−$3.2K −$1.75/SF
EGI
$44.0K $24.05/SF
− OpEx
−$13.2K −$7.21/SF
NOI
$30.8K $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%
$616,040
Cap Rate 7%
$440,029
Cap Rate 9%
$342,244
Alternative Uses
Best Use
Multifamily LT 5
$440.0K
$385.0K – $513.4K
NOI $30,802 @ 7.0% cap · market cap 6.84%
Second Best
Apartment 5plus
$409.5K
$358.3K – $477.7K
NOI $28,663 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$588.7K
$515.1K – $686.8K
NOI $41,207 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
905
Businesses Nearby
Explore this area
Business Placement
Demographics for 06511, CT
55,879
Population
24,579
Households
2.3
Avg Household Size
29
Median Age
48%
College-Educated
91%
High-School Grad
5.8 sq mi
ZIP Area
9,634
Density / Sq Mi
$56,300
Median Household Income
$34,409
Median Earnings
$1,534
Median Rent
$313,400
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 - Three-unit residence with refreshed interiors, stainless appliances, and enclosed outdoor areas.
Where is this triplex located?
The property is located at 212 Newhall St New Haven, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three‑unit triplex with approximately 1,830 square feet; Recently remodeled kitchens and bathrooms with newer flooring; Stainless steel appliances and bright interior spaces
