Duplex with Third-Floor
For Sale
$669,900
Pending
1179 Noble Avenue, Bridgeport, CT 06608
Two-unit home with a finished third-floor unit, new roof, vinyl siding, and private yard with garage.
Property Size3,073 SF
Days on Market74
Property Features for 1179 Noble Avenue
General Information
Standard status
Pending
Size
3,073 SF
Property subtype
3 Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1909
Listing Agency:
RE/MAX Right Choice
Listed By:
Basil Amso · License #RES.0777456
(203) 209-3818
Source:
Lockandkeyre
Added: Jun 26
Changed: Aug 17
Last Checked: Aug 16 at 6:28AM
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 duplex includes a finished third-floor unit, creating three distinct living areas within the property. Improvements noted in the remarks include a new roof and vinyl siding. The units feature modern kitchens and baths, along with hardwood floors throughout. The property is heated with gas heat and has thermopane windows.
Outside, the home offers a private yard and an accompanying garage. The public remarks also describe convenient access to the train, shopping, and major highways.
The property is offered for sale with the opportunity to add value by bringing rents up to market, and it can also be sold as part of a package with the adjacent three-family property listed as 1171 Noble Ave (MLS 24186515).
Outside, the home offers a private yard and an accompanying garage. The public remarks also describe convenient access to the train, shopping, and major highways.
The property is offered for sale with the opportunity to add value by bringing rents up to market, and it can also be sold as part of a package with the adjacent three-family property listed as 1171 Noble Ave (MLS 24186515).
Key Highlights
- Two‑unit home with a finished third‑floor unit (2F plus 3rd floor) in a building built in 1909
- New roof and vinyl siding
- Hardwood floors throughout and 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
$39,823
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
5.94%
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%
$796,460
$796.5K
Cap Rate 7%
$568,900
$568.9K
Cap Rate 9%
$442,478
$442.5K
Market Conditions
NOI Build-Up for 3,073 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
$60.8K $19.80/SF
− Vacancy
−$4.0K −$1.29/SF
EGI
$56.9K $18.51/SF
− OpEx
−$17.1K −$5.55/SF
NOI
$39.8K $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%
$796,460
Cap Rate 7%
$568,900
Cap Rate 9%
$442,478
Alternative Uses
Best Use
Multifamily LT 5
$568.9K
$497.8K – $663.7K
NOI $39,823 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 5.40%
Theoretical Best
Office A
$877.1K
$767.5K – $1.02M
NOI $61,397 @ 7.0% cap · market cap 9.17%
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
1,002
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?
Duplex - Two-unit home with a finished third-floor unit, new roof, vinyl siding, and private yard with garage.
Where is this duplex located?
The property is located at 1179 Noble Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $669,900.
What are key features of this property?
This property features: Two‑unit home with a finished third‑floor unit (2F plus 3rd floor) in a building built in 1909; New roof and vinyl siding; Hardwood floors throughout and thermopane windows
