18-Room Apartment
New
For Sale
$950,000
1014 Noble Ave, Bridgeport, CT 06608
Rooming house configuration with private rooms, efficiency units, and shared bathrooms in Bridgeport.
Property Size4,744 SF
Days on Market3
Property Features for 1014 Noble Ave
General Information
Standard status
Active
Size
4,744 SF
Property subtype
Multi Family
Building Details
Building Size
4,744 SF
Year Built
1912
Tenancy
Multi
Listing Agency:
Eaddy Associates Realty Group
(203) 209-8936
Listed By:
Latasha Eaddy · License #REB.0789642
(203) 209-8936
Source:
Elliman
Added: Aug 9
Changed: Aug 10
Last Checked: Aug 10 at 6:22AM
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 Eaddy Associates Realty Group
Investment Insights
Based on property information with market context.
This 1912 apartment property is configured as an 18-room rooming house with 16 private rooms and two efficiency units. The rooms average approximately 14 by 15 feet, with some larger spaces, and the layout includes two shared bathrooms. One room is occupied by an on-site property manager without rent.
Located at 1014 Noble Ave in Bridgeport, Connecticut, the property has a Walk Score of 72, a Bike Score of 56, and a Transit Score of 41. The address provides a compact multifamily format with a mix of individual rooms and efficiency accommodations.
Located at 1014 Noble Ave in Bridgeport, Connecticut, the property has a Walk Score of 72, a Bike Score of 56, and a Transit Score of 41. The address provides a compact multifamily format with a mix of individual rooms and efficiency accommodations.
Key Highlights
- 18‑room configuration with 16 private rooms and 2 efficiency units
- Two shared bathrooms serving the rooming house layout
- Average room size of 14' x 15'; some rooms are larger
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
$55,803
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
5.87%
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%
$1,116,060
$1.1M
Cap Rate 7%
$797,186
$797.2K
Cap Rate 9%
$620,033
$620.0K
Market Conditions
NOI Build-Up for 4,744 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
$107.0K $22.56/SF
− Vacancy
−$5.6K −$1.17/SF
EGI
$101.5K $21.39/SF
− OpEx
−$45.7K −$9.62/SF
NOI
$55.8K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,116,060
Cap Rate 7%
$797,186
Cap Rate 9%
$620,033
Alternative Uses
Best Use
Apartment 5plus
$797.2K
$697.5K – $930.1K
NOI $55,803 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,783 @ 7.0% cap · market cap 9.98%
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
1,154
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?
Apartment building - Rooming house configuration with private rooms, efficiency units, and shared bathrooms in Bridgeport.
Where is this apartment building located?
The property is located at 1014 Noble Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 18‑room configuration with 16 private rooms and 2 efficiency units; Two shared bathrooms serving the rooming house layout; Average room size of 14' x 15'; some rooms are larger
