Quadplex with Finished
For Sale
$899,000
39-45 Harral Avenue, Bridgeport, CT 06604
Each apartment includes two bedrooms, a full bath, and an eat-in kitchen.
Property Size4,857 SF
Days on Market60
Property Features for 39-45 Harral Avenue
General Information
Standard status
Active
Size
4,857 SF
Property subtype
4 Family
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,918
Building Details
Building Size
4,857 SF
Year Built
1892
Listing Agency:
HJL Realty, LLC
Listed By:
Hoffman Jean-Louis · License #REB.0790314
(203) 414-1013
Source:
Higginsgroup
Added: Jul 30
Changed: Sep 20
Last Checked: Sep 26 at 12:44PM
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 HJL Realty, LLC
Investment Insights
Based on property information with market context.
This quadplex contains 16 rooms arranged across four apartments, with each apartment offering two bedrooms, one full bath, an eat-in kitchen, and a living room. One unit is currently being repaired. The property also includes a walk-up finished attic and a large private backyard.
Located in Bridgeport’s Westend, the property offers access to I-95 North and South and Route 8. It is a short distance from Bridgeport train station, the bus station, and Bridgeport Bass Pro Shops.
Located in Bridgeport’s Westend, the property offers access to I-95 North and South and Route 8. It is a short distance from Bridgeport train station, the bus station, and Bridgeport Bass Pro Shops.
Key Highlights
- Quadplex with 16 rooms across four apartments
- Each apartment has two bedrooms, one full bath, an eat‑in kitchen, and a living room
- One unit is currently being repaired
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
$62,942
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
7.00%
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%
$1,258,840
$1.3M
Cap Rate 7%
$899,171
$899.2K
Cap Rate 9%
$699,356
$699.4K
Market Conditions
NOI Build-Up for 4,857 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
$96.2K $19.80/SF
− Vacancy
−$6.3K −$1.29/SF
EGI
$89.9K $18.51/SF
− OpEx
−$27.0K −$5.55/SF
NOI
$62.9K $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%
$1,258,840
Cap Rate 7%
$899,171
Cap Rate 9%
$699,356
Alternative Uses
Best Use
Multifamily LT 5
$899.2K
$786.8K – $1.05M
NOI $62,942 @ 7.0% cap · market cap 7.00%
Second Best
Apartment 5plus
$816.2K
$714.2K – $952.2K
NOI $57,132 @ 7.0% cap · market cap 6.36%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,041 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,536
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each apartment includes two bedrooms, a full bath, and an eat-in kitchen.
Where is this quadplex located?
The property is located at 39-45 Harral Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Quadplex with 16 rooms across four apartments; Each apartment has two bedrooms, one full bath, an eat‑in kitchen, and a living room; One unit is currently being repaired
