Turnkey Three-Unit
875 Elm Street New Haven, CT 06511
875 Elm Street, New Haven, CT, 06511
$645,000
Pending
For Sale
$645,000
Pending
Three-family home with two recently renovated units, newer roof, and off-street parking including a two-car carport.
Property Size3,422 SF
Days on Market36
Property Features for 875 Elm Street
General Information
- Standard status
- Pending
- Size
- 3,422 SF
- Property subtype
- Multi-Family / 3 Family
Building Details
- Year Built
- 1918
Listing agency
Real Broker CT, LLC
(203) 605-7865
Listed by
Jennifer M D'Amato · License #REB.0788209
(203) 605-7865
Source
Compass
Added: Jun 17 Updated: Jul 22 at 12:31AM Checked: Jul 22 at 7:52AM
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 Real Broker CT, LLC
Investment Insights
Based on property information with market context.
This turn-key three-family property offers income potential with two fully renovated units and a third unit updated in the early 2000s and well maintained since. Units 1 and 2 have been transformed with new kitchens, updated spa-like bathrooms with tile surrounds and double sinks, new gas heat, replacement windows, new flooring, and in-unit laundry. The first-floor unit also includes central A/C. The property additionally features a newer roof and a two-car carport, along with ample off-street parking.
Located at 875 Elm Street in New Haven, CT, the building provides convenient on-site parking for tenants and their guests.
Located at 875 Elm Street in New Haven, CT, the building provides convenient on-site parking for tenants and their guests.
Key Highlights
- Three‑family home built in 1918 with 14 total rooms
- Units 1 & 2 were fully renovated about two years ago with new kitchens and updated bathrooms with tile surrounds and double sinks
- Unit 1 & 2 include new gas heat, replacement windows, new flooring, and in‑unit laundry (all units have hook‑ups)
Local Financial Insights For Multifamily LT 5
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 | $88.3k | $25.80 |
| − Vacancy | −$6.0k | −$1.75 |
| EGI | $82.3k | $24.05 |
| − OpEx | −$24.7k | −$7.21 |
| NOI | $57.6k | $16.83 |
3,422 SF · lease $25.80/SF/yr · vacancy 6.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$822.8K
$720.0K – $960.0K
NOI $57,599 @ 7.0% cap · market cap 8.93%
Second Best
Apartment 5plus
$765.7K
$670.0K – $893.3K
NOI $53,598 @ 7.0% cap · market cap 8.31%
Theoretical Best
Office A
$1.10M
$963.2K – $1.28M
NOI $77,054 @ 7.0% cap · market cap 11.95%
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 - Three-family home with two recently renovated units, newer roof, and off-street parking including a two-car carport.
Where is this triplex located?
The property is located at 875 Elm Street New Haven, CT.
What is the asking price?
The asking price for this property is $645,000.
What are key features of this property?
This property features: Three‑family home built in 1918 with 14 total rooms; Units 1 & 2 were fully renovated about two years ago with new kitchens and updated bathrooms with tile surrounds and double sinks; Unit 1 & 2 include new gas heat, replacement windows, new flooring, and in‑unit laundry (all units have hook‑ups)
