Two-Family Home with
For Sale
$525,000
226-228 Lenox Ave, Bridgeport, CT 06605
Two-family residence with updated kitchens and bathrooms, newer water heaters, and off-street parking via shared driveway.
Property Size3,160 SF
Days on Market55
Property Features for 226-228 Lenox Ave
General Information
Standard status
Active
Size
3,160 SF
Total Parking Spaces
1
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Building Size
3,160 SF
Year Built
1905
Tenancy
Multi
Listing Agency:
The Bella Group, LLC
(203) 768-7480
Listed By:
Diane M. Roldan
(203) 768-7480
Source:
Elliman
Added: Jul 8
Changed: Aug 28
Last Checked: Aug 30 at 10:56PM
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 The Bella Group, LLC
Investment Insights
Based on property information with market context.
This two-family home offers ample living space with updated kitchens and bathrooms. The property also includes newer water heaters and an updated plumbing system. A one-car garage and a shared driveway provide convenient off-street parking.
Located near the Black Rock area, the address sits in a very walkable setting with good access to transit.
The layout is designed for two separate units within one building, supported by the property’s more recent mechanical and plumbing updates.
Located near the Black Rock area, the address sits in a very walkable setting with good access to transit.
The layout is designed for two separate units within one building, supported by the property’s more recent mechanical and plumbing updates.
Key Highlights
- Two‑family residence built in 1905 with updated kitchens and bathrooms
- Newer water heaters and an updated plumbing system
- Off‑street parking available via a shared driveway
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
$40,951
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
7.80%
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%
$819,020
$819.0K
Cap Rate 7%
$585,014
$585.0K
Cap Rate 9%
$455,011
$455.0K
Market Conditions
NOI Build-Up for 3,160 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
$62.6K $19.80/SF
− Vacancy
−$4.1K −$1.29/SF
EGI
$58.5K $18.51/SF
− OpEx
−$17.6K −$5.55/SF
NOI
$41.0K $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%
$819,020
Cap Rate 7%
$585,014
Cap Rate 9%
$455,011
Alternative Uses
Best Use
Multifamily LT 5
$585.0K
$511.9K – $682.5K
NOI $40,951 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$531.0K
$464.6K – $619.5K
NOI $37,170 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$901.9K
$789.2K – $1.05M
NOI $63,135 @ 7.0% cap · market cap 12.03%
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
1,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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 - Two-family residence with updated kitchens and bathrooms, newer water heaters, and off-street parking via shared driveway.
Where is this duplex located?
The property is located at 226-228 Lenox Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑family residence built in 1905 with updated kitchens and bathrooms; Newer water heaters and an updated plumbing system; Off‑street parking available via a shared driveway
