Three-Unit Residential Income
For Sale
$430,000
246 Newhall St, New Haven, CT 06511
Three-family property in New Haven with separate utilities for each unit and an included adjacent lot.
Property Size1,817 SF
Price / SF$236.65
Days on Market114
Property Features for 246 Newhall St
General Information
Standard status
Active
Size
1,817 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1903
Tenancy
Multi
Listing Agency:
Smart Realty Services Corp
Listed By:
Nathaniel Correa · License #RES.0794003
(203) 247-8512
Source:
Homesbyshoshana
Added: Jul 1
Changed: Oct 13
Last Checked: Oct 7 at 4:23PM
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 Smart Realty Services Corp
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Investment Insights
Based on property information with market context.
This three-family residential income property offers a practical layout for generating rental income while also supporting owner-occupancy. The sale includes the adjacent lot at 242 Newhall Drive. Each unit is served by separate utilities, which can simplify day-to-day management and tenant billing.
The property is located in New Haven, with convenience to downtown, Yale University, major hospitals, public transportation, shopping, and dining. It also provides easy access to major highways. Walk, bike, and transit scores are reported as 66, 82, and 41, respectively.
Prospective buyers should conduct their own due diligence regarding zoning, permits, and any future development possibilities related to the adjacent lot.
The property is located in New Haven, with convenience to downtown, Yale University, major hospitals, public transportation, shopping, and dining. It also provides easy access to major highways. Walk, bike, and transit scores are reported as 66, 82, and 41, respectively.
Prospective buyers should conduct their own due diligence regarding zoning, permits, and any future development possibilities related to the adjacent lot.
Key Highlights
- Three‑family property built in 1903 in New Haven
- Each unit has separate utilities for simplified property management
- Sale includes the adjacent lot at 242 Newhall Drive
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,584
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$611,680
$611.7K
Cap Rate 7%
$436,914
$436.9K
Cap Rate 9%
$339,822
$339.8K
Market Conditions
NOI Build-Up for 1,817 SF
Gross rent
$46.9K $25.80/SF
− Vacancy
−$3.2K −$1.75/SF
EGI
$43.7K $24.05/SF
− OpEx
−$13.1K −$7.21/SF
NOI
$30.6K $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 Rate 5%
$611,680
Cap Rate 7%
$436,914
Cap Rate 9%
$339,822
Alternative Uses
Best Use
Multifamily LT 5
$436.9K
$382.3K – $509.7K
NOI $30,584 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$406.6K
$355.7K – $474.3K
NOI $28,459 @ 7.0% cap · market cap 6.62%
Theoretical Best
Office A
$584.5K
$511.4K – $681.9K
NOI $40,914 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
740
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three-family property in New Haven with separate utilities for each unit and an included adjacent lot.
Where is this triplex located?
The property is located at 246 Newhall St New Haven, CT.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Three‑family property built in 1903 in New Haven; Each unit has separate utilities for simplified property management; Sale includes the adjacent lot at 242 Newhall Drive
