Park-Front Three-Family
New
For Sale
$950,000
4 Academy, New Haven, CT 06511
Three apartments each include in-unit laundry and two full bathrooms.
Property Size3,757 SF
Price / SF$252.86
Days on Market6
Property Features for 4 Academy
General Information
Standard status
Active
Size
3,757 SF
Property subtype
3 Family
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Amenities
in-unit laundry
Building Details
Year Built
1860
Construction
brick
Listing Agency:
Farnam Realty Group
(203) 671-1924
Listed By:
James Huffman · License #RES.0800728
(570) 506-7521
Source:
Lockandkeyre
Added: Oct 11
Changed: Oct 15
Last Checked: Oct 14 at 10:47PM
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 Farnam Realty Group
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Investment Insights
Based on property information with market context.
This brick triplex dates to 1860 and contains three apartments, each configured with two bedrooms and two bathrooms. In-unit laundry is provided in every residence. The exterior includes an arched entrance and historic architectural detailing, with RM2 zoning.
The property fronts Wooster Square Park at 4 Academy Street in New Haven. Wooster Street dining, neighborhood restaurants and cafés, and Downtown New Haven and Yale are nearby.
The property fronts Wooster Square Park at 4 Academy Street in New Haven. Wooster Street dining, neighborhood restaurants and cafés, and Downtown New Haven and Yale are nearby.
Key Highlights
- Three 2‑bedroom, 2‑bathroom apartments
- In‑unit laundry in each of the three residences
- Built in 1860
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$63,238
Cap Rate
6.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,264,760
$1.3M
Cap Rate 7%
$903,400
$903.4K
Cap Rate 9%
$702,644
$702.6K
Market Conditions
NOI Build-Up for 3,757 SF
Gross rent
$96.9K $25.80/SF
− Vacancy
−$6.6K −$1.75/SF
EGI
$90.3K $24.05/SF
− OpEx
−$27.1K −$7.21/SF
NOI
$63.2K $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%
$1,264,760
Cap Rate 7%
$903,400
Cap Rate 9%
$702,644
Alternative Uses
Best Use
Multifamily LT 5
$903.4K
$790.5K – $1.05M
NOI $63,238 @ 7.0% cap · market cap 6.66%
Second Best
Apartment 5plus
$840.6K
$735.6K – $980.8K
NOI $58,845 @ 7.0% cap · market cap 6.19%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,597 @ 7.0% cap · market cap 8.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments each include in-unit laundry and two full bathrooms.
Where is this triplex located?
The property is located at 4 Academy New Haven, CT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three 2‑bedroom, 2‑bathroom apartments; In‑unit laundry in each of the three residences; Built in 1860
