Two-Family Income
87-89 Elmwood Ave Bridgeport, CT 06605
For Sale
$565,000
Two-family home with a finished walk-up attic, detached two-car garage, and covered porch, sold as-is subject to probate approval.
Property Size3,363 SF
Price / SF$168
Days on Market13
Property Features for 87-89 Elmwood Ave
General Information
- Standard status
- Active
- Size
- 3,363 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1920
Listing Agency:
(203) 615-1115
Listed By:
Cassandra Williams
(203) 615-1115
Source:
Elliman
Added: Jul 12
Changed: Jul 23
Last Checked: Jul 23 at 10:47AM
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 Cassandra Williams
Investment Insights
Based on property information with market context.
This two-family residence offers expanded living space with a huge finished walk-up attic, providing additional usable room beyond the main floors. The home also includes an unfinished basement and a detached two-car garage, along with a covered second-floor front porch. With approximately 3,363 square feet of finished space (excluding the unfinished basement and attic), the layout supports multiple ways to configure day-to-day space while keeping the existing two-family structure intact.
The property is located near local amenities, public transportation, and major highways. Walk and transit accessibility are described as somewhat walkable and somewhat transit-oriented, with bikeability also rated as somewhat bikeable.
Some repairs and updates are needed, and the property is being sold AS IS, WHERE IS. There is also a possibility to convert the property to a three-family home, subject to all required permits and approvals, and sale is subject to Probate Court approval.
The property is located near local amenities, public transportation, and major highways. Walk and transit accessibility are described as somewhat walkable and somewhat transit-oriented, with bikeability also rated as somewhat bikeable.
Some repairs and updates are needed, and the property is being sold AS IS, WHERE IS. There is also a possibility to convert the property to a three-family home, subject to all required permits and approvals, and sale is subject to Probate Court approval.
Key Highlights
- Two‑family home built in 1920 with approximately 3,363 SF of finished space (excluding unfinished basement and attic).
- Finished walk‑up attic adds additional living space with possibility of conversion to a three‑family property, subject to required permits and approvals.
- Detached two‑car garage for off‑street parking.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.6k | $19.80 |
| − Vacancy | −$4.3k | −$1.29 |
| EGI | $62.3k | $18.51 |
| − OpEx | −$18.7k | −$5.55 |
| NOI | $43.6k | $12.96 |
3,363 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$622.6K
$544.8K – $726.4K
NOI $43,581 @ 7.0% cap · market cap 7.71%
Second Best
Apartment 5plus
$565.1K
$494.5K – $659.3K
NOI $39,558 @ 7.0% cap · market cap 7.00%
Theoretical Best
Office A
$959.9K
$839.9K – $1.12M
NOI $67,191 @ 7.0% cap · market cap 11.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-family home with a finished walk-up attic, detached two-car garage, and covered porch, sold as-is subject to probate approval.
Where is this duplex located?
The property is located at 87-89 Elmwood Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Two‑family home built in 1920 with approximately 3,363 SF of finished space (excluding unfinished basement and attic).; Finished walk‑up attic adds additional living space with possibility of conversion to a three‑family property, subject to required permits and approvals.; Detached two‑car garage for off‑street parking.
