Two-Unit Home with Detached
For Sale
Under Contract
$520,000
1232-1234 Reservoir Avenue, Bridgeport, CT 06606
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size2,044 SF
Lot Size0.11 Acres
Price / SF$254.40
Days on Market109
Property Features for 1232-1234 Reservoir Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Basement, Bedroom 4, Bathroom 1
Parking
6
Patio and Porch features
Porch
Exterior features
Sidewalk,Porch,Gutters,Lighting
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Reservoir Avenue.
Standard status
Active Under Contract
Size
2,044 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7840
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Amenities
common laundry area
pool table
Building Details
Year built
1953
Architectural style
Other
Listing Agency:
William Pitt Sotheby's Int'l · Sotheby's International Realty
(203) 255-9900
Listed By:
Erika Portanova Songer · License #RES.0764485
(203) 258-1831
Added: May 15
Changed: Aug 30
Last Checked: Aug 31 at 10:06AM
MLS# 24175818
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 duplex contains 2,044 square feet of living space across two residential units arranged on the main and upper floors. Each unit provides two bedrooms, one full bathroom, a living room, and an eat-in kitchen. The finished lower level adds approximately 400 square feet and includes shared laundry space and a pool table that remains with the sale.
The property occupies 0.11 acres and includes a detached two-car garage, private driveway parking, a porch, sidewalks, exterior lighting, and gutters. Public water and public sewer serve the property. Built in 1953, the home is zoned RA. Tenants will not convey with the sale, and showings require 24 hours' notice.
The property occupies 0.11 acres and includes a detached two-car garage, private driveway parking, a porch, sidewalks, exterior lighting, and gutters. Public water and public sewer serve the property. Built in 1953, the home is zoned RA. Tenants will not convey with the sale, and showings require 24 hours' notice.
Key Highlights
- Duplex with 2,044 square feet of living space
- Two units, each with 2 bedrooms, 1 full bath, living room, and eat‑in kitchen
- Finished lower level offers approximately 400 square feet of additional space
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
Lease Details
2
Residential units
Multi-tenant
Tenancy
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes two bedrooms, one full bath, a living room, and an eat-in kitchen.
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: Duplex with 2,044 square feet of living space; Two units, each with 2 bedrooms, 1 full bath, living room, and eat‑in kitchen; Finished lower level offers approximately 400 square feet of additional space
