Welcome to this spacious two-family located on desirable Elm Street; just minutes from downtown New Haven, Yale University, Yale New Haven Hospital, UNH, SCSU, and so much more! This charming property offers classic architectural details, hardwood floors, and a flexible layout that makes it ideal for both investors and owner-occupants. The first-floor unit features two bedrooms and one full bath, a fireplaced living room, a kitchen and dining room and is currently tenant-occupied on a month-to-month basis, providing immediate rental income. The second and third floors are combined into a single oversized unit. The second floor includes two bedrooms, a full bath, a kitchen, a living room and dining room, hardwood flooring and access to a porch off the living room. The third floor offers an incredible BONUS of space adding three additional bedrooms, a full bath and living room, soaring ceilings, and a stunning Palladian window that fills the space with beautiful natural light - perfect for extended families, tenants, and home offices. Outside, you will find a large, fenced-in private yard ideal for entertaining, pets or gardening, along with off-street parking for two cars. This home is perfectly situated near the city's vibrant arts and restaurant scene. It's also close to public transportation, making it highly desirable for commuters and students alike.