Updated Triplex with
For Sale
$775,000
Pending
863-865 Brewster Street, Bridgeport, CT 06605
Three-family property with private laundry, natural-gas heating, and off-street parking near Fairfield Metro Train Station.
Property Size2,914 SF
Days on Market15
Property Features for 863-865 Brewster Street
General Information
Standard status
Pending
Size
2,914 SF
Property subtype
3 Family
Additional Details
Public Transit
Yes
Sprinkler System
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,766
Amenities
in-unit washer/dryer
Building Details
Building Size
2,914 SF
Year Built
2010
Year Renovated
2010
Listing Agency:
William Raveis Real Estate
(203) 231-1950
Listed By:
Kaitlyn Walsh
(203) 231-1950
Source:
Higginsgroup
Added: Aug 15
Changed: Aug 24
Last Checked: Aug 23 at 7:17AM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
Rebuilt in 2010, this three-family property includes a detached 3-car garage, off-street parking, and laundry equipment in each unit. The first-floor residence has two private entrances along with a renovated kitchen and bathroom. Building systems include on-demand boilers fueled by natural gas, a camera system, and a fire sprinkler system; the property is up to fire code.
Located at 863-865 Brewster St in Bridgeport’s Black Rock area, the property is within walking distance of Fairfield Metro Train Station, Fairfield Avenue shops and restaurants, and the St. Mary’s By the Sea waterfront promenade. Sidewalks connect the property with both Fairfield and Black Rock. Walk Score is 75, Bike Score is 55, and Transit Score is 48.
Located at 863-865 Brewster St in Bridgeport’s Black Rock area, the property is within walking distance of Fairfield Metro Train Station, Fairfield Avenue shops and restaurants, and the St. Mary’s By the Sea waterfront promenade. Sidewalks connect the property with both Fairfield and Black Rock. Walk Score is 75, Bike Score is 55, and Transit Score is 48.
Key Highlights
- Three‑family property rebuilt in 2010
- Detached 3‑car garage plus off‑street parking
- First‑floor unit has two private entrances, renovated kitchen, and renovated bathroom
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
$37,763
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
4.87%
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%
$755,260
$755.3K
Cap Rate 7%
$539,471
$539.5K
Cap Rate 9%
$419,589
$419.6K
Market Conditions
NOI Build-Up for 2,914 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
$57.7K $19.80/SF
− Vacancy
−$3.8K −$1.29/SF
EGI
$53.9K $18.51/SF
− OpEx
−$16.2K −$5.55/SF
NOI
$37.8K $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%
$755,260
Cap Rate 7%
$539,471
Cap Rate 9%
$419,589
Alternative Uses
Best Use
Multifamily LT 5
$539.5K
$472.0K – $629.4K
NOI $37,763 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$489.7K
$428.5K – $571.3K
NOI $34,277 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$831.7K
$727.8K – $970.3K
NOI $58,220 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
1,387
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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-family property with private laundry, natural-gas heating, and off-street parking near Fairfield Metro Train Station.
Where is this triplex located?
The property is located at 863-865 Brewster Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Three‑family property rebuilt in 2010; Detached 3‑car garage plus off‑street parking; First‑floor unit has two private entrances, renovated kitchen, and renovated bathroom
