Triplex with Private
New
For Sale
$1,295,000
38 Academy, New Haven, CT 06511
Recently refreshed residential income property situated in Wooster Square.
Property Size1,800 SF
Price / SF$472.97
Days on Market4
Property Features for 38 Academy
General Information
Standard status
Active
Size
1,800 SF
Property subtype
3 Family
Lease Term
Listing ID: 24213068, Standard Status: Coming Soon, MLS Status: Coming Soon, Property Subtype: 3 Family
Building Details
Building Size
1,800 SF
Year Built
1800
Listing Agency:
William Raveis Real Estate
(203) 453-0391
Listed By:
Debbie Rowe · License #REB.0487450
Source:
Iverty
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 11 at 7:32AM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
This triplex contains 2,738 square feet and dates to 1800. Recent renovations and updates have been completed, and private off-street parking serves the property.
The property is on Wooster Square in New Haven, Connecticut.
The property is on Wooster Square in New Haven, Connecticut.
Key Highlights
- Triplex with 2,738 square feet
- Built in 1800
- Recent renovations and updates
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,086
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$921,720
$921.7K
Cap Rate 7%
$658,371
$658.4K
Cap Rate 9%
$512,067
$512.1K
Market Conditions
NOI Build-Up for 2,738 SF
Gross rent
$70.6K $25.80/SF
− Vacancy
−$4.8K −$1.75/SF
EGI
$65.8K $24.05/SF
− OpEx
−$19.8K −$7.21/SF
NOI
$46.1K $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%
$921,720
Cap Rate 7%
$658,371
Cap Rate 9%
$512,067
Alternative Uses
Best Use
Multifamily LT 5
$658.4K
$576.1K – $768.1K
NOI $46,086 @ 7.0% cap · market cap 3.56%
Second Best
Apartment 5plus
$612.6K
$536.1K – $714.8K
NOI $42,885 @ 7.0% cap · market cap 3.31%
Theoretical Best
Office A
$880.7K
$770.7K – $1.03M
NOI $61,652 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,642
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Recently refreshed residential income property situated in Wooster Square.
Where is this triplex located?
The property is located at 38 Academy New Haven, CT.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Triplex with 2,738 square feet; Built in 1800; Recent renovations and updates
