Three-Unit Multifamily
For Sale
$575,000
Pending
13 Armstrong Place, Bridgeport, CT 06608
Multi-Family For Sale, 3updown - Unit(s) per Floor, Bridgeport, CT
Property Size2,155 SF
Lot Size0.06 Acres
Days on Market60
Property Features for 13 Armstrong Place
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
ILI
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 8, Bedroom 6, Bedroom 2, Bedroom 9, Basement, Bathroom 2, Bedroom 7, Bedroom 3, Bathroom 1, Bedroom 1
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Follow GPS. Armstrong Street is one way.
Subdivision
East Side
Standard status
Pending
Size
2,155 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6026
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Building Details
Year built
1882
Architectural style
Other
Listing Agency:
Planet Realty, LLC
(203) 387-0200
Listed By:
Terri St Peter
(203) 376-1600
Added: Aug 4
Changed: Sep 24
Last Checked: Oct 2 at 1:06PM
MLS# 24194862
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.
Investment Insights
Based on property information with market context.
Located at 13 Armstrong Place in Bridgeport, this three-unit multifamily property contains 2,155 square feet and was built in 1882. Each floor provides a three-bedroom, one-bathroom unit, creating a consistent layout across the building. The unfinished basement adds storage and utility space, while baseboard heating serves the property.
The parcel measures 0.06 acres and is supported by public water and public sewer. Shopping, restaurants, schools, parks, public transportation, and major commuter routes are identified in the surrounding area. Zoning is ILI, providing an additional land-use consideration for review.
The parcel measures 0.06 acres and is supported by public water and public sewer. Shopping, restaurants, schools, parks, public transportation, and major commuter routes are identified in the surrounding area. Zoning is ILI, providing an additional land-use consideration for review.
Key Highlights
- Three residential units, each with 3 bedrooms and 1 bathroom
- 2,155 square feet on a 0.06‑acre parcel
- Unfinished basement provides storage and utility space
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
$27,927
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
4.86%
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%
$558,540
$558.5K
Cap Rate 7%
$398,957
$399.0K
Cap Rate 9%
$310,300
$310.3K
Market Conditions
NOI Build-Up for 2,155 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
$42.7K $19.80/SF
− Vacancy
−$2.8K −$1.29/SF
EGI
$39.9K $18.51/SF
− OpEx
−$12.0K −$5.55/SF
NOI
$27.9K $12.96/SF
Area
Bridgeport, CT
Vacancy
6.50%
Lease Rate
$19.80 /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%
$558,540
Cap Rate 7%
$398,957
Cap Rate 9%
$310,300
Alternative Uses
Best Use
Multifamily LT 5
$399.0K
$349.1K – $465.5K
NOI $27,927 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$362.1K
$316.9K – $422.5K
NOI $25,349 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$615.1K
$538.2K – $717.6K
NOI $43,056 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Three residential units offer consistent floor plans, basement storage, and access to public utilities.
Where is this triplex located?
The property is located at 13 Armstrong Place Bridgeport, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Three residential units, each with 3 bedrooms and 1 bathroom; 2,155 square feet on a 0.06‑acre parcel; Unfinished basement provides storage and utility space
