3-Unit Residential
875 Elm Street, New Haven, CT 06511
For Sale
New
$675,000
Multi-Family For Sale, New Haven, CT
Property Size3,422 SF
Lot Size0.13 Acres
Price / SF$197.25
Days on Market3
Property Features for 875 Elm Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Basement
Lot features
Elementary school
High school
Directions
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Cooling system
Water source
Building Details
Year built
Buildings
Listing Agency:
Real Broker CT, LLC
(855) 450-0442
Listed By:
Jennifer D'Amato · License #REB.0788209
(203) 605-7865
Added: Nov 4
Last Checked: Nov 6 at 9:06PM
MLS# 24217379
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,422-square-foot triplex, built in 1918, sits on a 0.13-acre lot and is zoned RM2. Renovation work on the third-floor unit is in progress; the first two residences were renovated within the past two years. Updated kitchens and bathrooms and in-unit laundry are planned across all three units. Property improvements include replacement windows, a newer roof, and a newer heating system. Central air conditioning serves the first floor. A two-car carport and additional off-street parking are also on site.
The property is about 2 miles from Yale New Haven Hospital and downtown New Haven, and minutes from Westville Center. Public water and sewer serve the site.
The property is about 2 miles from Yale New Haven Hospital and downtown New Haven, and minutes from Westville Center. Public water and sewer serve the site.
Key Highlights
- Three residential units in 3,422 square feet
- 0.13‑acre lot with RM2 zoning
- First two units renovated within the past two years; third‑floor renovation in progress
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.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,694
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 - The three-unit property includes in-unit laundry and off-street parking, with renovation work underway in the upper-floor residence.
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 $675,000.
What are key features of this property?
This property features: Three residential units in 3,422 square feet; 0.13‑acre lot with RM2 zoning; First two units renovated within the past two years; third‑floor renovation in progress
