Three-Family Residential
For Sale
$625,000
111 Calhoun Place, Bridgeport, CT 06606
Three-unit property on a private street with long-term, turnkey tenancy.
Property Size3,020 SF
Price / SF$206.95
Days on Market103
Property Features for 111 Calhoun Place
General Information
Standard status
Active
Size
3,020 SF
Property subtype
3 Family
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1917
Listing Agency:
Coote & Burwell Realty,LLC
Listed By:
Komica Coote-Burwell
(203) 449-2580
Source:
Lockandkeyre
Added: Jun 4
Changed: Sep 13
Last Checked: Sep 13 at 9:32AM
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 Coote & Burwell Realty,LLC
Investment Insights
Based on property information with market context.
This three-family residential income property is set on a private street. The offering is described as turn-key, with long-term tenants already in place.
Located in Bridgeport, CT, the property is reported to be bikeable (BikeScore 63) and very walkable (WalkScore 81). The transit score is listed as 47, indicating some access to public transportation.
For investors and owner-operators seeking a straightforward income property, the presence of long-term tenants and a turn-key configuration can simplify initial ownership and transition. The three-unit setup provides multiple income streams within a single asset, while the private-street setting supports a more contained residential feel.
Located in Bridgeport, CT, the property is reported to be bikeable (BikeScore 63) and very walkable (WalkScore 81). The transit score is listed as 47, indicating some access to public transportation.
For investors and owner-operators seeking a straightforward income property, the presence of long-term tenants and a turn-key configuration can simplify initial ownership and transition. The three-unit setup provides multiple income streams within a single asset, while the private-street setting supports a more contained residential feel.
Key Highlights
- 3‑family property built in 1917
- Located on a private street
- Long‑term tenants in place
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
$39,136
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
6.26%
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%
$782,720
$782.7K
Cap Rate 7%
$559,086
$559.1K
Cap Rate 9%
$434,844
$434.8K
Market Conditions
NOI Build-Up for 3,020 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
$59.8K $19.80/SF
− Vacancy
−$3.9K −$1.29/SF
EGI
$55.9K $18.51/SF
− OpEx
−$16.8K −$5.55/SF
NOI
$39.1K $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%
$782,720
Cap Rate 7%
$559,086
Cap Rate 9%
$434,844
Alternative Uses
Best Use
Multifamily LT 5
$559.1K
$489.2K – $652.3K
NOI $39,136 @ 7.0% cap · market cap 6.26%
Second Best
Apartment 5plus
$507.5K
$444.1K – $592.1K
NOI $35,524 @ 7.0% cap · market cap 5.68%
Theoretical Best
Office A
$862.0K
$754.2K – $1.01M
NOI $60,338 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
2,627
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property on a private street with long-term, turnkey tenancy.
Where is this triplex located?
The property is located at 111 Calhoun Place Bridgeport, CT.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3‑family property built in 1917; Located on a private street; Long‑term tenants in place
