Three-Unit Multifamily
For Sale
$575,000
13 Armstrong Place, Bridgeport, CT 06608
Three residential levels offer bedroom and bathroom accommodations, plus unfinished basement storage and utility space.
Property Size18,823 SF
Price / SF$266.82
Days on Market9
Property Features for 13 Armstrong Place
General Information
Standard status
Active
Size
18,823 SF
Property subtype
3 Family
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Building Size
18,823 SF
Year Built
1882
Buildings
1
Listing Agency:
Planet Realty, LLC
(203) 779-9224
Listed By:
Terri St Peter · License #452508574
(203) 779-9224
Source:
Iverty
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 5:44AM
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 Planet Realty, LLC
Investment Insights
Based on property information with market context.
Located at 13 Armstrong Place in Bridgeport, this three-family property contains 2,155 square feet and was built in 1882. Each floor provides a three-bedroom, one-bath residential layout, creating a consistent configuration across the building. The property has been freshly painted, while the unfinished basement adds storage and utility space.
The property is near shopping, restaurants, schools, parks, public transportation, and major commuter routes. Its three-unit arrangement and additional basement area provide a straightforward multifamily configuration for residential use and rental operations.
The property is near shopping, restaurants, schools, parks, public transportation, and major commuter routes. Its three-unit arrangement and additional basement area provide a straightforward multifamily configuration for residential use and rental operations.
Key Highlights
- Three‑family property with 3 bedrooms and 1 bathroom on each floor
- 2,155 SF building constructed in 1882
- Unfinished basement provides storage and utility 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
$27,927
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
4.86%
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%
$558,540
$558.5K
Cap Rate 7%
$398,957
$399.0K
Cap Rate 9%
$310,300
$310.3K
Market Conditions
NOI Build-Up for 2,155 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
$42.7K $19.80/SF
− Vacancy
−$2.8K −$1.29/SF
EGI
$39.9K $18.51/SF
− OpEx
−$12.0K −$5.55/SF
NOI
$27.9K $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%
$558,540
Cap Rate 7%
$398,957
Cap Rate 9%
$310,300
Alternative Uses
Best Use
Multifamily LT 5
$399.0K
$349.1K – $465.5K
NOI $27,927 @ 7.0% cap · market cap 4.86%
Second Best
Apartment 5plus
$362.1K
$316.9K – $422.5K
NOI $25,349 @ 7.0% cap · market cap 4.41%
Theoretical Best
Office A
$615.1K
$538.2K – $717.6K
NOI $43,056 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,705
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
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?
Triplex - Three residential levels offer bedroom and bathroom accommodations, plus unfinished basement storage and utility space.
Where is this triplex located?
The property is located at 13 Armstrong Place Bridgeport, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Three‑family property with 3 bedrooms and 1 bathroom on each floor; 2,155 SF building constructed in 1882; Unfinished basement provides storage and utility space
