Three-Unit Multifamily
For Sale
$509,000
94 Carlisle St, New Haven, CT 06519
Two two-bedroom apartments accompany a separate studio, offering a flexible three-unit residential configuration.
Property Size2,290 SF
Days on Market137
Property Features for 94 Carlisle St
General Information
Standard status
Active
Size
2,290 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA, 1 x studio
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Building Size
2,290 SF
Year Built
1900
Listing Agency:
Great Estates, CT
(860) 280-4334
Listed By:
Donna Genovese · License #RES.0809491
(860) 280-4334
Source:
Elliman
Added: Apr 16
Changed: Aug 29
Last Checked: Apr 28 at 9:16AM
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 Great Estates, CT
Investment Insights
Based on property information with market context.
This 2290-square-foot triplex contains three residential units arranged across three floors. The first and second levels each include a two-bedroom, one-bath apartment, while the top floor contains a studio. Interior features include hot-air heating, and the property is zoned RM2. The building dates to 1900.
Located at 94 Carlisle Street in New Haven, the property is a short walk from Metro North and minutes from Yale University. Hospitals and public transportation are also identified as nearby. All three units are on month-to-month leases, with two units in the process of vacating, providing flexibility for future occupancy or leasing decisions.
Located at 94 Carlisle Street in New Haven, the property is a short walk from Metro North and minutes from Yale University. Hospitals and public transportation are also identified as nearby. All three units are on month-to-month leases, with two units in the process of vacating, providing flexibility for future occupancy or leasing decisions.
Key Highlights
- 2290‑square‑foot triplex with three residential units
- Two‑bedroom, one‑bath apartments on the first and second floors
- Third‑floor studio apartment
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
$38,545
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
7.57%
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%
$770,900
$770.9K
Cap Rate 7%
$550,643
$550.6K
Cap Rate 9%
$428,278
$428.3K
Market Conditions
NOI Build-Up for 2,290 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
$59.1K $25.80/SF
− Vacancy
−$4.0K −$1.75/SF
EGI
$55.1K $24.05/SF
− OpEx
−$16.5K −$7.21/SF
NOI
$38.5K $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%
$770,900
Cap Rate 7%
$550,643
Cap Rate 9%
$428,278
Alternative Uses
Best Use
Multifamily LT 5
$550.6K
$481.8K – $642.4K
NOI $38,545 @ 7.0% cap · market cap 7.57%
Second Best
Apartment 5plus
$512.4K
$448.4K – $597.8K
NOI $35,868 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$736.6K
$644.6K – $859.4K
NOI $51,565 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
7,523
Businesses Nearby
Explore this area
Business Placement
Demographics for 06519, CT
15,450
Population
6,424
Households
2.4
Avg Household Size
33
Median Age
20%
College-Educated
77%
High-School Grad
1.8 sq mi
ZIP Area
8,583
Density / Sq Mi
$44,394
Median Household Income
$29,745
Median Earnings
$1,356
Median Rent
$247,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Two two-bedroom apartments accompany a separate studio, offering a flexible three-unit residential configuration.
Where is this triplex located?
The property is located at 94 Carlisle St New Haven, CT.
What is the asking price?
The asking price for this property is $509,000.
What are key features of this property?
This property features: 2290‑square‑foot triplex with three residential units; Two‑bedroom, one‑bath apartments on the first and second floors; Third‑floor studio apartment
