Two-Family Home with
For Sale
$520,000
Pending
1232-1234 Reservoir Avenue, Bridgeport, CT 06606
Two-unit property with garage and ample parking.
Property Size2,044 SF
Days on Market110
Property Features for 1232-1234 Reservoir Avenue
General Information
Standard status
Pending
Size
2,044 SF
Property subtype
2 Family
Building Details
Year Built
1953
Listing Agency:
William Pitt Sotheby's Int'l
(203) 258-1831
Listed By:
Erika Portanova Songer · License #RES.0764485
(203) 258-1831
Source:
Lockandkeyre
Added: May 14
Changed: Aug 23
Last Checked: Jul 24 at 1:20PM
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 William Pitt Sotheby's Int'l
Investment Insights
Based on property information with market context.
This two-family home features 2,044 square feet of living space, along with a detached two-car garage and a private driveway with ample parking. The main and upper floor units mirror each other, each offering two bedrooms, one full bathroom, a living room, and an eat-in kitchen. The current rent is $1,600 per month. The finished lower level provides approximately 400 square feet of additional living space and includes a pool table that will remain with the property. Both tenant groups share the lower level, where the common laundry area is located. This property presents an opportunity to own an investment property. The tenants will convey with the sale.
Key Highlights
- Investment property opportunity in Bridgeport with existing tenants.
- Two units, each with two bedrooms, one bath, living room, and eat‑in kitchen.
- Large, two‑car detached garage and ample private driveway parking.**
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
$26,488
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
5.09%
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%
$529,760
$529.8K
Cap Rate 7%
$378,400
$378.4K
Cap Rate 9%
$294,311
$294.3K
Market Conditions
NOI Build-Up for 2,044 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
$40.5K $19.80/SF
− Vacancy
−$2.6K −$1.29/SF
EGI
$37.8K $18.51/SF
− OpEx
−$11.4K −$5.55/SF
NOI
$26.5K $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%
$529,760
Cap Rate 7%
$378,400
Cap Rate 9%
$294,311
Alternative Uses
Best Use
Multifamily LT 5
$378.4K
$331.1K – $441.5K
NOI $26,488 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$343.5K
$300.5K – $400.7K
NOI $24,043 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$583.4K
$510.5K – $680.6K
NOI $40,838 @ 7.0% cap · market cap 7.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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?
Duplex - Two-unit property with garage and ample parking.
Where is this duplex located?
The property is located at 1232-1234 Reservoir Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Investment property opportunity in Bridgeport with existing tenants.; Two units, each with two bedrooms, one bath, living room, and eat‑in kitchen.; Large, two‑car detached garage and ample private driveway parking.**
