Renovated Two-Family
For Sale
$445,000
Pending
149 Shelton Street, Bridgeport, CT 06608
MULTI_FAMILY - Bridgeport, CT
Property Size2,156 SF
Lot Size0.10 Acres
Days on Market51
Property Features for 149 Shelton Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 1, Bedroom 4, Basement, Bedroom 2, Bedroom 3, Bathroom 2
Basement
Full, Unfinished
Lot features
Sloping Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
See Google Maps/Apple Maps
Standard status
Pending
Size
2,156 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
5768
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Architectural style
Other
Listing Agency:
Serhant Connecticut, LLC
(203) 489-7800
Listed By:
Jithu Sajeevan · License #REB.0795779
(860) 801-7630
Added: Jun 25
Changed: Aug 4
Last Checked: Aug 14 at 5:06AM
MLS# 24186721
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.
149-151 Shelton Street is a well-maintained two-family duplex built in 1920. The first-floor unit has been fully renovated and is offered in excellent condition, with updated finishes and a functional layout ready for immediate occupancy. The property has also benefited from significant capital improvements, including a newer roof.
The home provides approximately 2,156 square feet of living space with four bedrooms and two full bathrooms, plus a full basement. Off-street parking is available, and the property is served by public water and public sewer. Heating is hot water, with window unit air conditioning.
Conveniently located near shopping, dining, parks, schools, public transportation, Metro-North access, and major commuter routes, the duplex offers flexibility for both owner-occupants and investors.
The home provides approximately 2,156 square feet of living space with four bedrooms and two full bathrooms, plus a full basement. Off-street parking is available, and the property is served by public water and public sewer. Heating is hot water, with window unit air conditioning.
Conveniently located near shopping, dining, parks, schools, public transportation, Metro-North access, and major commuter routes, the duplex offers flexibility for both owner-occupants and investors.
Key Highlights
- Renovated first‑floor unit with updated finishes throughout
- Newer roof supports long‑term building maintenance
- Zoned RC
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
$27,940
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
6.28%
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%
$558,800
$558.8K
Cap Rate 7%
$399,143
$399.1K
Cap Rate 9%
$310,444
$310.4K
Market Conditions
NOI Build-Up for 2,156 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%
$558,800
Cap Rate 7%
$399,143
Cap Rate 9%
$310,444
Alternative Uses
Best Use
Multifamily LT 5
$399.1K
$349.3K – $465.7K
NOI $27,940 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$362.3K
$317.0K – $422.7K
NOI $25,361 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$615.4K
$538.5K – $717.9K
NOI $43,076 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,698
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - RC-zoned two-family duplex with a renovated first-floor unit, off-street parking, and public utilities.
Where is this duplex located?
The property is located at 149 Shelton Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Renovated first‑floor unit with updated finishes throughout; Newer roof supports long‑term building maintenance; Zoned RC
