Three-Unit Multifamily
586 Orchard St, New Haven, CT 06511
For Sale
$675,000
Pending
Three residential units provide flexible occupancy options with rear parking and RM2 zoning.
Property Size3,946 SF
Days on Market58
Property Features for 586 Orchard St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Exceptional Real Estate LLC
Listed By:
Patrick Garrett
(203) 927-7309
Source:
Yourcthomeguide
Added: Sep 13
Changed: Nov 7
Last Checked: Nov 8 at 7:13AM
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 Exceptional Real Estate LLC
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Investment Insights
Based on property information with market context.
This 1905-built triplex in New Haven contains three residential units with a combined 10 bedrooms and 3 full baths. The property also includes a rear parking lot and is offered in as-is condition, with the seller making no repairs.
RM2 zoning supports the property's multifamily classification. The three-unit layout provides options for an investor seeking rental income or an owner-occupant planning to live in one unit while leasing the others. Located at 586 Orchard Street, the property is positioned within an established residential area of New Haven.
RM2 zoning supports the property's multifamily classification. The three-unit layout provides options for an investor seeking rental income or an owner-occupant planning to live in one unit while leasing the others. Located at 586 Orchard Street, the property is positioned within an established residential area of New Haven.
Key Highlights
- Three residential units with 10 total bedrooms
- 3 full baths across the property
- Rear parking lot included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,805
Cap Rate
9.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,236,100
$1.2M
Cap Rate 7%
$882,929
$882.9K
Cap Rate 9%
$686,722
$686.7K
Market Conditions
NOI Build-Up for 3,946 SF
Gross rent
$119.8K $30.36/SF
− Vacancy
−$7.4K −$1.88/SF
EGI
$112.4K $28.48/SF
− OpEx
−$50.6K −$12.81/SF
NOI
$61.8K $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 Rate 5%
$1,236,100
Cap Rate 7%
$882,929
Cap Rate 9%
$686,722
Alternative Uses
Best Use
Multifamily LT 5
$948.8K
$830.2K – $1.11M
NOI $66,419 @ 7.0% cap · market cap 9.84%
Second Best
Apartment 5plus
$882.9K
$772.6K – $1.03M
NOI $61,805 @ 7.0% cap · market cap 9.16%
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,853 @ 7.0% cap · market cap 13.16%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,414
Businesses Nearby
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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
$313,400
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in New Haven, CT
Properties on Market for Triplexes in New Haven
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units provide flexible occupancy options with rear parking and RM2 zoning.
Where is this triplex located?
The property is located at 586 Orchard St New Haven, CT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three residential units with 10 total bedrooms; 3 full baths across the property; Rear parking lot included
