Three-Family
New
For Sale
$699,000
225 Campbell Ave, West Haven, CT 06516
Residential income property near shopping, dining, transportation, major highways, and local beaches.
Property Size3,534 SF
Days on Market4
Property Features for 225 Campbell Ave
General Information
Standard status
Active
Size
3,534 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
3,534 SF
Year Built
1903
Buildings
1
Listing Agency:
(860) 868-0639
Listed By:
Jazmine Santana
(860) 868-0639
Source:
Elliman
Added: Aug 5
Changed: Aug 6
Last Checked: Aug 8 at 1:27PM
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 Jazmine Santana
Investment Insights
Based on property information with market context.
This three-family residential property at 225 Campbell Ave in West Haven, Connecticut, was built in 1903. The configuration provides three separate residential units within one multifamily asset, supporting an income-oriented ownership strategy or an owner-occupant arrangement with additional rental units.
The property is positioned near shopping, restaurants, major highways, public transportation, and local beaches. Walk Score is 61, rated Somewhat Walkable, while Bike Score is 45, rated Somewhat Bikeable. The address is in West Haven, CT 06516.
The property is positioned near shopping, restaurants, major highways, public transportation, and local beaches. Walk Score is 61, rated Somewhat Walkable, while Bike Score is 45, rated Somewhat Bikeable. The address is in West Haven, CT 06516.
Key Highlights
- Three‑family residential property with three units
- Built in 1903
- 225 Campbell Ave, West Haven, CT 06516
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
$59,484
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
8.51%
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%
$1,189,680
$1.2M
Cap Rate 7%
$849,771
$849.8K
Cap Rate 9%
$660,933
$660.9K
Market Conditions
NOI Build-Up for 3,534 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
$91.2K $25.80/SF
− Vacancy
−$6.2K −$1.75/SF
EGI
$85.0K $24.05/SF
− OpEx
−$25.5K −$7.21/SF
NOI
$59.5K $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%
$1,189,680
Cap Rate 7%
$849,771
Cap Rate 9%
$660,933
Alternative Uses
Best Use
Multifamily LT 5
$849.8K
$743.6K – $991.4K
NOI $59,484 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$790.7K
$691.9K – $922.5K
NOI $55,352 @ 7.0% cap · market cap 7.92%
Theoretical Best
Office A
$1.14M
$994.7K – $1.33M
NOI $79,576 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
808
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 - Residential income property near shopping, dining, transportation, major highways, and local beaches.
Where is this triplex located?
The property is located at 225 Campbell Ave West Haven, CT.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Three‑family residential property with three units; Built in 1903; 225 Campbell Ave, West Haven, CT 06516
