Triplex with Detached
New
For Sale
$799,900
204 Savoy St, Bridgeport, CT 06606
Three apartment units feature updated kitchens, hardwood flooring, and access to shared outdoor space.
Property Size3,417 SF
Days on Market7
Property Features for 204 Savoy St
General Information
Standard status
Active
Size
3,417 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Building Size
3,417 SF
Year Built
1917
Buildings
1
Listing Agency:
(203) 521-7757
Listed By:
Steven Lage
(203) 521-7757
Source:
Elliman
Added: Aug 15
Changed: Aug 17
Last Checked: Aug 20 at 9:15AM
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 Steven Lage
Investment Insights
Based on property information with market context.
This 1917 triplex includes three residential units with substantial living areas and a range of interior updates. Hardwood floors, detailed millwork, and refreshed kitchens with updated appliances are featured throughout. The first- and second-floor apartments are currently configured as three-bedroom units, while the first floor includes one full bath and one half bath.
The property occupies an oversized corner lot in Bridgeport’s North End. Exterior amenities include a detached two-car garage, fenced yard, and paver patio. Partially finished basement space provides storage and laundry hookups. The first-floor unit may be delivered vacant, creating an owner-occupancy option while the other apartments continue generating rental income.
The property occupies an oversized corner lot in Bridgeport’s North End. Exterior amenities include a detached two-car garage, fenced yard, and paver patio. Partially finished basement space provides storage and laundry hookups. The first-floor unit may be delivered vacant, creating an owner-occupancy option while the other apartments continue generating rental income.
Key Highlights
- Three‑family property built in 1917
- First- and second‑floor apartments are currently used as three‑bedroom units
- First‑floor unit includes one full bath and one half bath
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
$44,281
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
5.54%
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%
$885,620
$885.6K
Cap Rate 7%
$632,586
$632.6K
Cap Rate 9%
$492,011
$492.0K
Market Conditions
NOI Build-Up for 3,417 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
$67.7K $19.80/SF
− Vacancy
−$4.4K −$1.29/SF
EGI
$63.3K $18.51/SF
− OpEx
−$19.0K −$5.55/SF
NOI
$44.3K $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%
$885,620
Cap Rate 7%
$632,586
Cap Rate 9%
$492,011
Alternative Uses
Best Use
Multifamily LT 5
$632.6K
$553.5K – $738.0K
NOI $44,281 @ 7.0% cap · market cap 5.54%
Second Best
Apartment 5plus
$574.2K
$502.4K – $669.9K
NOI $40,193 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$975.3K
$853.4K – $1.14M
NOI $68,270 @ 7.0% cap · market cap 8.53%
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
1,308
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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?
Triplex - Three apartment units feature updated kitchens, hardwood flooring, and access to shared outdoor space.
Where is this triplex located?
The property is located at 204 Savoy St Bridgeport, CT.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Three‑family property built in 1917; First- and second‑floor apartments are currently used as three‑bedroom units; First‑floor unit includes one full bath and one half bath
