Three-Family Property with Detached
New
For Sale
$499,000
Pending
67 Clay St, New Haven, CT 06513
Three-level multifamily residence with off-street parking, a full basement, and access to neighborhood amenities.
Property Size2,446 SF
Lot Size0.14 Acres
Days on Market6
Property Features for 67 Clay St
General Information
Standard status
Pending
Size
2,446 SF
Lot size
0.14 Acres
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Building Size
2,446 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Seabury Hill REALTORS
Listed By:
Michelle Cheng
(203) 804-9321
Source:
Elliman
Added: Sep 19
Last Checked: Sep 22 at 7:47PM
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 Seabury Hill REALTORS
Investment Insights
Based on property information with market context.
This three-family property contains approximately 2,446 square feet across three levels, with 7 bedrooms and 3 full bathrooms. The layout includes generously sized rooms, a full basement for storage and utilities, off-street parking, and a detached garage. Built in 1900, the property is offered as-is and provides a substantial multifamily footprint for renovation or customization.
The property is located at 67 Clay St in New Haven’s Fair Haven neighborhood, with access to Grand Avenue, I-91, downtown New Haven, Yale University, shopping, restaurants, and public transportation. Its approximately 0.14-acre level lot supports the existing residential improvements and parking areas. WalkScore is 89, BikeScore is 87, and TransitScore is 44.
The property is located at 67 Clay St in New Haven’s Fair Haven neighborhood, with access to Grand Avenue, I-91, downtown New Haven, Yale University, shopping, restaurants, and public transportation. Its approximately 0.14-acre level lot supports the existing residential improvements and parking areas. WalkScore is 89, BikeScore is 87, and TransitScore is 44.
Key Highlights
- Triplex with approximately 2,446 square feet across three levels
- 7 bedrooms and 3 full bathrooms
- Approximately 0.14‑acre level lot
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
$41,171
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
8.25%
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%
$823,420
$823.4K
Cap Rate 7%
$588,157
$588.2K
Cap Rate 9%
$457,456
$457.5K
Market Conditions
NOI Build-Up for 2,446 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
$63.1K $25.80/SF
− Vacancy
−$4.3K −$1.75/SF
EGI
$58.8K $24.05/SF
− OpEx
−$17.6K −$7.21/SF
NOI
$41.2K $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 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%
$823,420
Cap Rate 7%
$588,157
Cap Rate 9%
$457,456
Alternative Uses
Best Use
Multifamily LT 5
$588.2K
$514.6K – $686.2K
NOI $41,171 @ 7.0% cap · market cap 8.25%
Second Best
Apartment 5plus
$547.3K
$478.9K – $638.5K
NOI $38,311 @ 7.0% cap · market cap 7.68%
Theoretical Best
Office A
$786.8K
$688.5K – $918.0K
NOI $55,077 @ 7.0% cap · market cap 11.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,232
Businesses Nearby
Explore this area
Business Placement
Demographics for 06513, CT
38,618
Population
17,006
Households
2.3
Avg Household Size
36
Median Age
19%
College-Educated
80%
High-School Grad
7.2 sq mi
ZIP Area
5,364
Density / Sq Mi
$46,520
Median Household Income
$38,369
Median Earnings
$1,208
Median Rent
$226,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-level multifamily residence with off-street parking, a full basement, and access to neighborhood amenities.
Where is this triplex located?
The property is located at 67 Clay St New Haven, CT.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Triplex with approximately 2,446 square feet across three levels; 7 bedrooms and 3 full bathrooms; Approximately 0.14‑acre level lot
