Remodeled Two-Family Income
New
For Sale
$575,000
644-646 Hallett St, Bridgeport, CT 06608
Remodeled duplex with two leased units, hardwood flooring, updated electrical, and a finished-ready basement with an additional bath.
Days on Market3
Property Features for 644-646 Hallett St
General Information
Standard status
Active
Property subtype
Multi Family
Building Details
Building Size
2,138 SF
Year Built
1891
Listing Agency:
Arlinda Gesner Realty LLC
(860) 692-2041
Listed By:
Dennis Torres
(860) 692-2041
Source:
Elliman
Added: Jul 28
Changed: Jul 29
Last Checked: Jul 29 at 11:37AM
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 Arlinda Gesner Realty LLC
Investment Insights
Based on property information with market context.
This two-family property was fully remodeled about three years ago and includes hardwood flooring throughout. The first-floor unit features two bedrooms and one bathroom, while the second-floor unit has four bedrooms and two bathrooms. The home also has updated electrical wiring and panels, and includes appliances that were installed during the remodel.
A basement level offers potential for additional finished space, with an additional bathroom already in place. The first-floor unit has solar panels in place intended to help manage utility costs. Both units are fully leased, with terms in place through locked-in leases for the next two years, and negotiated increases.
The layout supports separate two-unit occupancy with a ready-to-expand lower level, while the solar feature and recent electrical updates provide practical upgrades aligned with day-to-day operations.
A basement level offers potential for additional finished space, with an additional bathroom already in place. The first-floor unit has solar panels in place intended to help manage utility costs. Both units are fully leased, with terms in place through locked-in leases for the next two years, and negotiated increases.
The layout supports separate two-unit occupancy with a ready-to-expand lower level, while the solar feature and recent electrical updates provide practical upgrades aligned with day-to-day operations.
Key Highlights
- 2‑family duplex built in 1891 with two leased units
- Fully remodeled 3 years ago with hardwood flooring throughout and new appliances
- All electrical wiring and panels updated
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 | $42.3k | $19.80 |
| − Vacancy | −$2.8k | −$1.29 |
| EGI | $39.6k | $18.51 |
| − OpEx | −$11.9k | −$5.55 |
| NOI | $27.7k | $12.96 |
2,138 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$395.8K
$346.3K – $461.8K
NOI $27,707 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$359.3K
$314.4K – $419.2K
NOI $25,149 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$610.2K
$534.0K – $711.9K
NOI $42,716 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,889
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?
Duplex - Remodeled duplex with two leased units, hardwood flooring, updated electrical, and a finished-ready basement with an additional bath.
Where is this duplex located?
The property is located at 644-646 Hallett St 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: 2‑family duplex built in 1891 with two leased units; Fully remodeled 3 years ago with hardwood flooring throughout and new appliances; All electrical wiring and panels updated
