Multifamily Property with Private
For Sale
$669,900
1179 Noble Avenue, Bridgeport, CT 06608
MULTI_FAMILY - Bridgeport, CT
Property Size3,073 SF
Lot Size0.08 Acres
Price / SF$217
Days on Market50
Property Features for 1179 Noble Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RB
Bedrooms
8
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 8, Basement, Bedroom 7, Bathroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS
Standard status
Active
Size
3,073 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7019
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
hardwood floors
modern kitchens and baths
gas heat
thermopane windows
private yard
garage
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: Aug 2
Last Checked: Aug 14 at 5:06AM
MLS# 24186516
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.
Multifamily property at 1179 Noble Avenue offering a private yard with a garage. Interior details include hardwood floors throughout, gas heat, and thermopane windows. Recent exterior updates include a new roof and vinyl siding. The home is served by public water and public sewer and includes a basement.
The property sits on a 0.08-acre lot with a property size of 3,073 square feet. The room mix includes eight bedrooms and three bathrooms. It is listed under zoning RB. The public remarks also note value-add potential through bringing rents up to market.
Built in 1909, this property may be suitable for either an investor or an owner-occupant. The field card lists the home as 3F; review all details during due diligence. It can be sold individually or as part of a package with the adjacent property at 1171 Noble Ave.
The property sits on a 0.08-acre lot with a property size of 3,073 square feet. The room mix includes eight bedrooms and three bathrooms. It is listed under zoning RB. The public remarks also note value-add potential through bringing rents up to market.
Built in 1909, this property may be suitable for either an investor or an owner-occupant. The field card lists the home as 3F; review all details during due diligence. It can be sold individually or as part of a package with the adjacent property at 1171 Noble Ave.
Key Highlights
- 0.08‑acre lot with 3,073 SF multifamily property
- Zoned RB
- Built in 1909
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
$36,147
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
5.40%
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%
$722,940
$722.9K
Cap Rate 7%
$516,386
$516.4K
Cap Rate 9%
$401,633
$401.6K
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
$69.3K $22.56/SF
− Vacancy
−$3.6K −$1.17/SF
EGI
$65.7K $21.39/SF
− OpEx
−$29.6K −$9.62/SF
NOI
$36.1K $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%
$722,940
Cap Rate 7%
$516,386
Cap Rate 9%
$401,633
Alternative Uses
Best Use
Apartment 5plus
$516.4K
$451.8K – $602.5K
NOI $36,147 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - RB-zoned multifamily with gas heat, hardwood floors, and new roof and vinyl siding on a private-yard lot.
Where is this multifamily property 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: 0.08‑acre lot with 3,073 SF multifamily property; Zoned RB; Built in 1909
