Renovated Triplex With In-Unit
875 Elm, New Haven, CT 06511
For Sale
New
$675,000
Three separate residences offer updated kitchens and baths, with laundry in each unit.
Property Size1,918 SF
Price / SF$197.25
Days on Market6
Property Features for 875 Elm
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
in-unit laundry
replacement windows
central A/C
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Real Broker CT, LLC
(855) 450-0442
Listed By:
Jennifer D'Amato · License #REB.0788209
(203) 605-7865
Source:
Iverty
Added: Nov 2
Changed: Nov 6
Last Checked: Nov 6 at 7:54AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 1918 triplex contains three residential units. Units 1 and 2 received full renovations less than two years ago, including new kitchens, tiled bathrooms with double sinks, new flooring, and in-unit laundry. Renovation of the third-floor residence is nearing completion, with updated kitchens and baths and laundry planned as part of the completed work. Replacement windows serve the building, alongside a newer heating system and central air conditioning on the first floor. The property also has a newer roof, a two-car carport, and off-street parking.
The property is minutes from Westville center and 2 miles from Yale New Haven Hospital and downtown New Haven. Walk Score is 69, Bike Score is 81, and Transit Score is 40.
The property is minutes from Westville center and 2 miles from Yale New Haven Hospital and downtown New Haven. Walk Score is 69, Bike Score is 81, and Transit Score is 40.
Key Highlights
- Three residential units in a 1918 building
- Units 1 and 2 renovated less than two years ago
- Third‑floor unit renovation nearing completion
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,599
Cap Rate
8.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,151,980
$1.2M
Cap Rate 7%
$822,843
$822.8K
Cap Rate 9%
$639,989
$640.0K
Market Conditions
NOI Build-Up for 3,422 SF
Gross rent
$88.3K $25.80/SF
− Vacancy
−$6.0K −$1.75/SF
EGI
$82.3K $24.05/SF
− OpEx
−$24.7K −$7.21/SF
NOI
$57.6K $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 Rate 5%
$1,151,980
Cap Rate 7%
$822,843
Cap Rate 9%
$639,989
Alternative Uses
Best Use
Multifamily LT 5
$822.8K
$720.0K – $960.0K
NOI $57,599 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$765.7K
$670.0K – $893.3K
NOI $53,598 @ 7.0% cap · market cap 7.94%
Theoretical Best
Office A
$1.10M
$963.2K – $1.28M
NOI $77,054 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,694
Businesses Nearby
Explore this area
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
$313,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/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 separate residences offer updated kitchens and baths, with laundry in each unit.
Where is this triplex located?
The property is located at 875 Elm 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 in a 1918 building; Units 1 and 2 renovated less than two years ago; Third‑floor unit renovation nearing completion
