Three-Unit Property With
For Sale
$699,900
1171 Noble Ave, Bridgeport, CT 06608
Three spacious residences feature updated kitchens, tiled bathrooms, and private outdoor space.
Property Size3,024 SF
Price / SF$231.45
Days on Market65
Property Features for 1171 Noble Ave
General Information
Standard status
Active
Size
3,024 SF
Total Parking Spaces
3
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,083
Amenities
hardwood floors
modern kitchens
tiled baths
private yard
Listing Agency:
RE/MAX Right Choice
(203) 209-3818
Listed By:
Basil Amso · License #RES.0777456
(203) 209-3818
Source:
Exprealty
Added: Jun 26
Changed: Aug 20
Last Checked: Aug 26 at 11:18AM
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 RE/MAX Right Choice
Investment Insights
Based on property information with market context.
This three-unit residential income property contains 3,024 square feet and offers spacious residences with hardwood flooring, modern kitchens, and tiled bathrooms. Building improvements include a new roof, gas heating, and vinyl thermopane windows. A private yard and three-car garage add useful exterior amenities for occupants and ownership.
The property is located at 1171 Noble Ave in Bridgeport, Connecticut, with access to nearby train service, shopping, and major highways. The asset may also be acquired together with the neighboring property at 1179 Noble Ave, MLS 24186516.
The property is located at 1171 Noble Ave in Bridgeport, Connecticut, with access to nearby train service, shopping, and major highways. The asset may also be acquired together with the neighboring property at 1179 Noble Ave, MLS 24186516.
Key Highlights
- Triplex with 3,024 square feet of building area
- Three‑car garage and private yard
- Hardwood floors throughout the 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
$39,188
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
5.60%
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%
$783,760
$783.8K
Cap Rate 7%
$559,829
$559.8K
Cap Rate 9%
$435,422
$435.4K
Market Conditions
NOI Build-Up for 3,024 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
$59.9K $19.80/SF
− Vacancy
−$3.9K −$1.29/SF
EGI
$56.0K $18.51/SF
− OpEx
−$16.8K −$5.55/SF
NOI
$39.2K $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%
$783,760
Cap Rate 7%
$559,829
Cap Rate 9%
$435,422
Alternative Uses
Best Use
Multifamily LT 5
$559.8K
$489.9K – $653.1K
NOI $39,188 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$508.2K
$444.6K – $592.9K
NOI $35,571 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$863.1K
$755.2K – $1.01M
NOI $60,418 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
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?
Triplex - Three spacious residences feature updated kitchens, tiled bathrooms, and private outdoor space.
Where is this triplex located?
The property is located at 1171 Noble Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Triplex with 3,024 square feet of building area; Three‑car garage and private yard; Hardwood floors throughout the units
