Duplex with Finished
For Sale
$600,000
485 Hallett Street, Bridgeport, CT 06608
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size1,913 SF
Lot Size0.11 Acres
Price / SF$313.64
Days on Market41
Property Features for 485 Hallett Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3, Basement, Bedroom 6, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 5
Patio and Porch features
Deck
Exterior features
Covered Deck
Basement
Full
Lot features
Corner Lot, Level Lot
Elementary school
Waltersville
High school
Warren Harding
Directions
GPS Friendly
Subdivision
East Side
Standard status
Active
Size
1,913 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6801
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1897
Architectural style
Other
Listing Agency:
mygoodagent
(888) 257-8265
Listed By:
Ariel Edery · License #RES.0818431
(203) 278-0910
Added: Jul 25
Changed: Aug 30
Last Checked: Sep 3 at 8:06PM
MLS# 24194204
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.
This 1,913-square-foot duplex, built in 1897, contains two residential units with spacious rooms and a finished basement. The lower level is currently arranged as an extension of the first-floor unit with an in-law-style setup. A covered deck adds outdoor space, while public water and public sewer serve the property. The finished basement may offer a path toward a third unit, subject to municipal approvals and buyer due diligence.
The sale includes two parcels totaling 0.11 acres: 485 Hallett Street and the adjacent lot at 519 Hallett St. The property is in Bridgeport's East End, near schools, parks, shopping, restaurants, public transportation, and major highways. Sale approval through Probate Court is required.
The sale includes two parcels totaling 0.11 acres: 485 Hallett Street and the adjacent lot at 519 Hallett St. The property is in Bridgeport's East End, near schools, parks, shopping, restaurants, public transportation, and major highways. Sale approval through Probate Court is required.
Key Highlights
- Two‑family duplex with 1,913 square feet of property size
- Finished basement used as an extension of the first‑floor unit
- Potential third‑unit conversion subject to municipal approvals
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
$24,791
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
4.13%
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%
$495,820
$495.8K
Cap Rate 7%
$354,157
$354.2K
Cap Rate 9%
$275,456
$275.5K
Market Conditions
NOI Build-Up for 1,913 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
$37.9K $19.80/SF
− Vacancy
−$2.5K −$1.29/SF
EGI
$35.4K $18.51/SF
− OpEx
−$10.6K −$5.55/SF
NOI
$24.8K $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%
$495,820
Cap Rate 7%
$354,157
Cap Rate 9%
$275,456
Alternative Uses
Best Use
Multifamily LT 5
$354.2K
$309.9K – $413.2K
NOI $24,791 @ 7.0% cap · market cap 4.13%
Second Best
Apartment 5plus
$321.5K
$281.3K – $375.0K
NOI $22,502 @ 7.0% cap · market cap 3.75%
Theoretical Best
Office A
$546.0K
$477.8K – $637.0K
NOI $38,221 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,784
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units occupy a well-maintained home with a covered deck and finished basement.
Where is this duplex located?
The property is located at 485 Hallett Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two‑family duplex with 1,913 square feet of property size; Finished basement used as an extension of the first‑floor unit; Potential third‑unit conversion subject to municipal approvals
