Three-Family Residential Income
572 Elm Street New Haven, CT 06511
572 Elm Street, New Haven, CT, 06511
$899,999
For Sale
$899,999
Expansive legal three-family home with separate electrical sub-panels and stackable washer/dryers for each unit.
Property Size4,998 SF
Price / SF$180.07
Days on Market97
Property Features for 572 Elm Street
General Information
- Standard status
- Active
- Size
- 4,998 SF
- Property subtype
- Multi-Family / 3 Family
Building Details
- Year Built
- 1900
Listing agency
Weichert Realtors MRG
(347) 362-5049
Listed by
Sadiki A Thames · License #RES.0810665
(347) 362-5049
Source
Compass
Added: Apr 18 Updated: Jul 22 at 10:15PM Checked: Jul 22 at 10:15PM
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 Weichert Realtors MRG
Investment Insights
Based on property information with market context.
This legal three-family house offers an expansive layout with nearly identical unit configurations across the first and second floors, plus a third-floor unit. Each unit includes spacious front-to-back living rooms, three bedrooms, one bathroom, and eat-in kitchens, with additional rooms described as part of the consistent layouts. Separate electrical sub-panels and stackable washer/dryers are provided for each apartment, and landings off the stairs are included for each unit. A walkout basement with high ceilings offers substantial storage capacity.
The property includes recent updates and upgrades completed in 2020, including interior and exterior paint, kitchen and bathroom enhancements, and improvements throughout. Heating is described as gas heat with a house meter. Outside, the lot is level and the property features a long driveway for off-street parking.
The building is presented as a multifamily investment opportunity, with the total size reported at over 5,000 square feet and unit sizes ranging from 1,666 square feet to 1,753 square feet based on the information provided.
The property includes recent updates and upgrades completed in 2020, including interior and exterior paint, kitchen and bathroom enhancements, and improvements throughout. Heating is described as gas heat with a house meter. Outside, the lot is level and the property features a long driveway for off-street parking.
The building is presented as a multifamily investment opportunity, with the total size reported at over 5,000 square feet and unit sizes ranging from 1,666 square feet to 1,753 square feet based on the information provided.
Key Highlights
- Legal 3‑family house with 6 total rooms and over 5,000 sq ft
- First- and second‑floor units each feature 1,666 sq ft with similar layouts; third‑floor unit is 1,753 sq ft
- Each unit has front‑to‑back living rooms, 3 bedrooms, 1 bathroom, and eat‑in kitchens
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $151.7k | $30.36 |
| − Vacancy | −$9.4k | −$1.88 |
| EGI | $142.3k | $28.48 |
| − OpEx | −$64.0k | −$12.81 |
| NOI | $78.3k | $15.66 |
4,998 SF · lease $30.36/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,126 @ 7.0% cap · market cap 9.35%
Second Best
Apartment 5plus
$1.12M
$978.5K – $1.30M
NOI $78,282 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,541 @ 7.0% cap · market cap 12.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Expansive legal three-family home with separate electrical sub-panels and stackable washer/dryers for each unit.
Where is this triplex located?
The property is located at 572 Elm Street New Haven, CT.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Legal 3‑family house with 6 total rooms and over 5,000 sq ft; First- and second‑floor units each feature 1,666 sq ft with similar layouts; third‑floor unit is 1,753 sq ft; Each unit has front‑to‑back living rooms, 3 bedrooms, 1 bathroom, and eat‑in kitchens
