Renovated Two-Family
For Sale
$599,900
1285 Norman Street, Bridgeport, CT 06604
Two updated residential units offer separate laundry, outdoor areas, and driveway parking for an income-producing ownership profile.
Property Size2,958 SF
Price / SF$202.81
Days on Market195
Property Features for 1285 Norman Street
General Information
Standard status
Active
Size
2,958 SF
Total Parking Spaces
6
Property subtype
Multi-Family / 2 Family
Zoning
RB
Units
Unit Mix
1 x 3BR/2BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,471
Amenities
Yes
Hot Water
12
Window Unit
3
Finished, Walk-up
Not Applicable
Building Details
Year Built
1947
Buildings
1
Listing Agency:
Rosana Melo Realty
(203) 545-1459
Listed By:
Rosania Melo · License #REB.0795867
(203) 545-1459
Source:
Compass
Added: Feb 17
Changed: Aug 30
Last Checked: Aug 30 at 11:52PM
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 two-family property contains 2,958 square feet across two renovated units. The first apartment has 6 rooms, 3 bedrooms, 2 full bathrooms, hardwood flooring, new appliances, a large living room, and a fireplace. The second also includes 6 rooms, with 4 bedrooms, 2 full bathrooms, hardwood floors, and new appliances. Both units have dedicated washers and dryers, front-yard access, and use of the spacious backyard. Tenants are already in place, and the property was built in 1947.
Located at 1285 Norman Street in Bridgeport, the property is near grocery stores, shopping, schools, public parks, and public transportation. A private driveway provides parking for up to 6 cars. The property is zoned RB and includes a finished walk-up area.
Located at 1285 Norman Street in Bridgeport, the property is near grocery stores, shopping, schools, public parks, and public transportation. A private driveway provides parking for up to 6 cars. The property is zoned RB and includes a finished walk-up area.
Key Highlights
- Two renovated units totaling 2,958 square feet
- Unit 1: 6 rooms, 3 bedrooms, and 2 full bathrooms
- Unit 2: 6 rooms, 4 bedrooms, and 2 full bathrooms
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
$38,333
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
6.39%
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%
$766,660
$766.7K
Cap Rate 7%
$547,614
$547.6K
Cap Rate 9%
$425,922
$425.9K
Market Conditions
NOI Build-Up for 2,958 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
$58.6K $19.80/SF
− Vacancy
−$3.8K −$1.29/SF
EGI
$54.8K $18.51/SF
− OpEx
−$16.4K −$5.55/SF
NOI
$38.3K $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%
$766,660
Cap Rate 7%
$547,614
Cap Rate 9%
$425,922
Alternative Uses
Best Use
Multifamily LT 5
$547.6K
$479.2K – $638.9K
NOI $38,333 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$497.1K
$434.9K – $579.9K
NOI $34,794 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$844.3K
$738.7K – $985.0K
NOI $59,099 @ 7.0% cap · market cap 9.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
656
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
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 updated residential units offer separate laundry, outdoor areas, and driveway parking for an income-producing ownership profile.
Where is this duplex located?
The property is located at 1285 Norman Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: Two renovated units totaling 2,958 square feet; Unit 1: 6 rooms, 3 bedrooms, and 2 full bathrooms; Unit 2: 6 rooms, 4 bedrooms, and 2 full bathrooms
