Fully Renovated Legal
For Sale
$869,000
100 Putnam Street, Bridgeport, CT 06608
Move-in ready four-unit property with a finished basement that offers flexibility for additional living or rental configurations.
Property Size5,616 SF
Lot Size0.16 Acres
Price / SF$154.74
Days on Market72
Property Features for 100 Putnam Street
General Information
Standard status
Active
Size
5,616 SF
Lot size
0.16 Acres
Property subtype
4 Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1867
Listing Agency:
Derek Greene
(888) 278-5840
Listed By:
Jordan Healy · License #REB.0758797
(413) 717-0635
Source:
Lockandkeyre
Added: Jun 15
Changed: Aug 25
Last Checked: Aug 25 at 5:42AM
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 Derek Greene
Investment Insights
Based on property information with market context.
This fully renovated, move-in-ready legal fourplex is set up for straightforward multi-family living, with a total of 10 bedrooms and 4 bathrooms. The interior living space is supported by an additional finished basement, providing meaningful extra room for tenant use or future configuration. The basement is designed in a way that could support creating two separate one-bedroom units, giving an operator additional pathways for how the space can be utilized.
Located at 100 Putnam St in Bridgeport, CT, the property sits on a 6,970 sq. ft. lot. Public remarks also note a walk score of 72 (very walkable) and a bike score of 56 (bikeable), with a transit score of 41 (some transit), which can support tenant accessibility for everyday needs.
For buyers and operators seeking a renovated income property, the layout offers multiple options: four existing units within a legal structure, plus the opportunity to reimagine the finished basement for additional one-bedroom configurations. With the home already brought to move-in-ready condition, it can help reduce near-term turn and improvement concerns while maintaining flexibility in how the additional space may be used.
Located at 100 Putnam St in Bridgeport, CT, the property sits on a 6,970 sq. ft. lot. Public remarks also note a walk score of 72 (very walkable) and a bike score of 56 (bikeable), with a transit score of 41 (some transit), which can support tenant accessibility for everyday needs.
For buyers and operators seeking a renovated income property, the layout offers multiple options: four existing units within a legal structure, plus the opportunity to reimagine the finished basement for additional one-bedroom configurations. With the home already brought to move-in-ready condition, it can help reduce near-term turn and improvement concerns while maintaining flexibility in how the additional space may be used.
Key Highlights
- Fully renovated legal 4‑family home built in 1867, offered move‑in ready
- 10 bedrooms and 4 bathrooms across 3,744 sq. ft. of renovated interior living space
- Additional 1,872 sq. ft. finished basement with potential to create two separate 1‑bedroom units
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
$72,778
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
8.37%
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%
$1,455,560
$1.5M
Cap Rate 7%
$1,039,686
$1.0M
Cap Rate 9%
$808,644
$808.6K
Market Conditions
NOI Build-Up for 5,616 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
$111.2K $19.80/SF
− Vacancy
−$7.2K −$1.29/SF
EGI
$104.0K $18.51/SF
− OpEx
−$31.2K −$5.55/SF
NOI
$72.8K $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%
$1,455,560
Cap Rate 7%
$1,039,686
Cap Rate 9%
$808,644
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$909.7K – $1.21M
NOI $72,778 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$943.7K
$825.8K – $1.10M
NOI $66,060 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,205 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,418
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?
Quadplex - Move-in ready four-unit property with a finished basement that offers flexibility for additional living or rental configurations.
Where is this quadplex located?
The property is located at 100 Putnam Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $869,000.
What are key features of this property?
This property features: Fully renovated legal 4‑family home built in 1867, offered move‑in ready; 10 bedrooms and 4 bathrooms across 3,744 sq. ft. of renovated interior living space; Additional 1,872 sq. ft. finished basement with potential to create two separate 1‑bedroom units
