Two-Family Home with In-Law
For Sale
$579,900
Pending
1287 Howard Avenue, Bridgeport, CT 06605
Two-family residence with three private entrances and a finished third-floor in-law-style suite.
Property Size1,934 SF
Days on Market52
Property Features for 1287 Howard Avenue
General Information
Standard status
Pending
Size
1,934 SF
Property subtype
2 Family
Additional Details
Multifamily Units
6
Building Details
Building Size
1,934 SF
Year Built
1934
Tenancy
Multi
Listing Agency:
Century 21 AllPoints Realty
Listed By:
Tyler DeVecchis · License #RES.0814134
(860) 966-9217
Source:
Iverty
Added: Jul 18
Changed: Aug 8
Last Checked: Aug 4 at 5:31AM
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 Century 21 AllPoints Realty
Investment Insights
Based on property information with market context.
Located at 1287 Howard Avenue, this well-maintained two-family home offers a flexible configuration for owner-occupants and investors. Each of the first- and second-floor apartments features spacious two-bedroom layouts with walk-in closets, bright living rooms, formal dining rooms, and full bathrooms, with hardwood floors noted in the dining areas. A finished third-floor in-law-style suite adds two bedrooms and a full bathroom, supported by separate private entrances.
The property sits on the edge of the Brooklawn neighborhood. Outdoor space includes an oversized backyard and ample off-street parking.
The home reflects recent major improvements, including a newer roof, replacement windows, a furnace, and a hot water heater.
The property sits on the edge of the Brooklawn neighborhood. Outdoor space includes an oversized backyard and ample off-street parking.
The home reflects recent major improvements, including a newer roof, replacement windows, a furnace, and a hot water heater.
Key Highlights
- Two‑family home built in 1934 with approximately 2,937 sq ft of living space
- 6 bedrooms and 3 full bathrooms across the two apartments plus a finished third‑floor in‑law‑style suite
- Three private entrances for flexible living arrangements and rental use
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
$38,061
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
6.56%
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%
$761,220
$761.2K
Cap Rate 7%
$543,729
$543.7K
Cap Rate 9%
$422,900
$422.9K
Market Conditions
NOI Build-Up for 2,937 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
$58.2K $19.80/SF
− Vacancy
−$3.8K −$1.29/SF
EGI
$54.4K $18.51/SF
− OpEx
−$16.3K −$5.55/SF
NOI
$38.1K $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%
$761,220
Cap Rate 7%
$543,729
Cap Rate 9%
$422,900
Alternative Uses
Best Use
Multifamily LT 5
$543.7K
$475.8K – $634.4K
NOI $38,061 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$493.5K
$431.8K – $575.8K
NOI $34,547 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$838.3K
$733.5K – $978.0K
NOI $58,680 @ 7.0% cap · market cap 10.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,024
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 three private entrances and a finished third-floor in-law-style suite.
Where is this duplex located?
The property is located at 1287 Howard Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $579,900.
What are key features of this property?
This property features: Two‑family home built in 1934 with approximately 2,937 sq ft of living space; 6 bedrooms and 3 full bathrooms across the two apartments plus a finished third‑floor in‑law‑style suite; Three private entrances for flexible living arrangements and rental use
