18-Room Apartment
New
For Sale
$950,000
1014 Noble Avenue, Bridgeport, CT 06608
MULTI_FAMILY - Bridgeport, CT
Property Size4,744 SF
Lot Size0.11 Acres
Price / SF$200.25
Days on Market4
Property Features for 1014 Noble Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
ORN
Bedrooms
18
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bedroom 17, Bedroom 11, Bedroom 15, Bedroom 6, Bedroom 18, Basement, Bedroom 14, Bedroom 5, Bathroom 1, Bedroom 9, Bedroom 2, Bedroom 3, Bedroom 13, Bedroom 16, Bedroom 1, Bedroom 12, Bathroom 3, Bedroom 8, Bedroom 10, Bedroom 7, Bathroom 4
Basement
Full
Lot features
Corner Lot, Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Noble Ave
Subdivision
East Side
Standard status
Active
Size
4,744 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
14296
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1912
Architectural style
Other
Listing Agency:
Eaddy Associates
(203) 713-8330
Listed By:
Latasha Eaddy · License #REB.0789642
(203) 209-8936
Added: Aug 8
Changed: Aug 10
Last Checked: Aug 11 at 8:06PM
MLS# 24197874
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 4,744-square-foot apartment property at 1014 Noble Avenue is configured as an 18-room legal rooming house. The layout includes 16 private rooms and 2 efficiency units, with shared bathroom facilities. Average room dimensions are approximately 14' x 15', with some rooms larger. The building was constructed in 1912 and occupies a 0.11-acre parcel.
The property is located in Bridgeport, CT, within the 06608 postal area. It carries ORN zoning and is served by public water and public sewer. The rooming-house configuration and established room count provide a clearly defined operating format for apartment-property buyers.
The property is located in Bridgeport, CT, within the 06608 postal area. It carries ORN zoning and is served by public water and public sewer. The rooming-house configuration and established room count provide a clearly defined operating format for apartment-property buyers.
Key Highlights
- 18‑room legal rooming‑house configuration
- 4,744‑square‑foot building on a 0.11‑acre parcel
- Includes 16 private rooms and 2 efficiency 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
$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
18
Residential units
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 - Legal rooming-house layout with private rooms, efficiency units, and shared bathroom facilities.
Where is this apartment building located?
The property is located at 1014 Noble Avenue 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 legal rooming‑house configuration; 4,744‑square‑foot building on a 0.11‑acre parcel; Includes 16 private rooms and 2 efficiency units
