Multifamily Property with Three-Unit
For Sale
Under Contract
$699,900
1171 Noble Avenue, Bridgeport, CT 06608
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size3,024 SF
Lot Size0.12 Acres
Price / SF$231.45
Days on Market97
Property Features for 1171 Noble Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 6, Basement, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 7, Bedroom 8, Bathroom 2
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Gps
Standard status
Active Under Contract
Size
3,024 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7083
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
hardwood floors
modern kitchens
tiled baths
private yard
Building Details
Year built
1909
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 268-1118
Listed By:
Basil Amso · License #RES.0777456
(203) 209-3818
Added: Jun 26
Changed: Sep 27
Last Checked: Sep 30 at 5:06AM
MLS# 24186515
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 multifamily property at 1171 Noble Avenue contains 3,024 square feet arranged as three residential units across separate floors. The building includes eight bedrooms, three bathrooms, hardwood floors, modern kitchens, and tiled baths. A new roof, gas heat, vinyl thermopane windows, a basement, and a private yard add to the existing improvements. The property was built in 1909 and has a three-car garage.
Public water and public sewer serve the property, which is located in Bridgeport, Connecticut. Its setting provides access to train service, shopping, and major highways within minutes. RB zoning applies to the 0.12-acre parcel.
Public water and public sewer serve the property, which is located in Bridgeport, Connecticut. Its setting provides access to train service, shopping, and major highways within minutes. RB zoning applies to the 0.12-acre parcel.
Key Highlights
- 3,024‑square‑foot multifamily property with three residential units
- Eight bedrooms and three bathrooms across separate floors
- New roof, gas heat, and vinyl thermopane windows
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three residential units feature hardwood flooring, updated kitchens, tiled bathrooms, and access to a private yard.
Where is this multifamily property located?
The property is located at 1171 Noble Avenue 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: 3,024‑square‑foot multifamily property with three residential units; Eight bedrooms and three bathrooms across separate floors; New roof, gas heat, and vinyl thermopane windows
