Three-Family
For Sale
$650,000
118 Bell Street, Bridgeport, CT 06610
Legally recognized multifamily property with separate rental units and access to transportation, shopping, dining, and everyday services.
Property Size2,525 SF
Days on Market9
Property Features for 118 Bell Street
General Information
Standard status
Active
Size
2,525 SF
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,343
Building Details
Building Size
2,525 SF
Year Built
1910
Listing Agency:
Rosana Melo Realty
Listed By:
Rosania Melo · License #REB.0795867
(203) 374-9451
Source:
Higginsgroup
Added: Sep 19
Last Checked: Sep 26 at 1:49PM
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 Rosana Melo Realty
Investment Insights
Based on property information with market context.
This legally recognized three-family property in Bridgeport, Connecticut, contains three rental units and was built in 1910. The multifamily configuration supports rental use and may also suit an owner-occupant seeking space within an income-producing property.
Located at 118 Bell Street, the property is near highways, public transportation, banks, gas stations, shopping, and restaurants. The property carries RC zoning, providing an additional reference point for evaluating its existing multifamily use.
Located at 118 Bell Street, the property is near highways, public transportation, banks, gas stations, shopping, and restaurants. The property carries RC zoning, providing an additional reference point for evaluating its existing multifamily use.
Key Highlights
- Legally recognized three‑family home
- Three rental units
- Built in 1910
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
$32,722
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
5.03%
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%
$654,440
$654.4K
Cap Rate 7%
$467,457
$467.5K
Cap Rate 9%
$363,578
$363.6K
Market Conditions
NOI Build-Up for 2,525 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
$50.0K $19.80/SF
− Vacancy
−$3.2K −$1.29/SF
EGI
$46.7K $18.51/SF
− OpEx
−$14.0K −$5.55/SF
NOI
$32.7K $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%
$654,440
Cap Rate 7%
$467,457
Cap Rate 9%
$363,578
Alternative Uses
Best Use
Multifamily LT 5
$467.5K
$409.0K – $545.4K
NOI $32,722 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$424.3K
$371.3K – $495.0K
NOI $29,701 @ 7.0% cap · market cap 4.57%
Theoretical Best
Office A
$720.7K
$630.6K – $840.8K
NOI $50,448 @ 7.0% cap · market cap 7.76%
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
1,496
Businesses Nearby
Explore this area
Business Placement
Demographics for 06610, CT
23,347
Population
9,292
Households
2.5
Avg Household Size
39
Median Age
17%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
7,531
Density / Sq Mi
$50,836
Median Household Income
$36,698
Median Earnings
$1,364
Median Rent
$224,700
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?
Triplex - Legally recognized multifamily property with separate rental units and access to transportation, shopping, dining, and everyday services.
Where is this triplex located?
The property is located at 118 Bell Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Legally recognized three‑family home; Three rental units; Built in 1910
