Three-Unit Residential
For Sale
$589,000
46 Dayton Street, New Haven, CT 06515
Multi-Family For Sale, Units on different Floors, New Haven, CT
Property Size3,422 SF
Lot Size0.11 Acres
Price / SF$172.12
Days on Market159
Property Features for 46 Dayton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM2
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 8, Bedroom 1, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 4, Bedroom 6
Parking
4
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS friendly
Subdivision
Westville
Standard status
Active
Size
3,422 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2027
Tax Annual Amount
7631
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating), Other (Heating)
Water source
Public
Building Details
Year built
1915
Architectural style
Other
Listing Agency:
Real Broker CT, LLC
(855) 450-0442
Listed By:
Xiaoming Li
(917) 623-6536
Added: Apr 30
Changed: Oct 4
Last Checked: Oct 5 at 9:06AM
MLS# 24171537
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit residential property contains 3,422 square feet, with a total of 8 bedrooms and 3 bathrooms. Built in 1915, the building has hot-water heating and is zoned RM2. The parcel measures 0.11 acres.
Public water and public sewer serve the property. Its three-apartment layout and bedroom count define the building’s residential configuration.
Public water and public sewer serve the property. Its three-apartment layout and bedroom count define the building’s residential configuration.
Key Highlights
- Three apartments with 8 bedrooms and 3 bathrooms
- 3,422 square feet of building area
- 0.11‑acre parcel
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
$53,598
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
9.10%
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%
$1,071,960
$1.1M
Cap Rate 7%
$765,686
$765.7K
Cap Rate 9%
$595,533
$595.5K
Market Conditions
NOI Build-Up for 3,422 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
$103.9K $30.36/SF
− Vacancy
−$6.4K −$1.88/SF
EGI
$97.5K $28.48/SF
− OpEx
−$43.9K −$12.81/SF
NOI
$53.6K $15.66/SF
Area
New Haven, CT
Vacancy
6.20%
Lease Rate
$30.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,071,960
Cap Rate 7%
$765,686
Cap Rate 9%
$595,533
Alternative Uses
Best Use
Multifamily LT 5
$822.8K
$720.0K – $960.0K
NOI $57,599 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$765.7K
$670.0K – $893.3K
NOI $53,598 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$1.10M
$963.2K – $1.28M
NOI $77,054 @ 7.0% cap · market cap 13.08%
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
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 06515, CT
17,877
Population
7,531
Households
2.4
Avg Household Size
33
Median Age
48%
College-Educated
91%
High-School Grad
4.6 sq mi
ZIP Area
3,886
Density / Sq Mi
$74,044
Median Household Income
$40,209
Median Earnings
$1,410
Median Rent
$284,200
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 - RM2-zoned residential property with three separate apartments and public water and sewer service.
Where is this triplex located?
The property is located at 46 Dayton Street New Haven, CT.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Three apartments with 8 bedrooms and 3 bathrooms; 3,422 square feet of building area; 0.11‑acre parcel
