Duplex with Finished
For Sale
$710,000
Pending
1515 Capitol Ave, Bridgeport, CT 06604
Two habitable main units are complemented by finished basement and third-floor space.
Property Size3,573 SF
Days on Market126
Property Features for 1515 Capitol Ave
General Information
Standard status
Pending
Size
3,573 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
could be remodeled and upgraded
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
3,573 SF
Year Built
1933
Buildings
1
Listing Agency:
(203) 710-6066
Listed By:
JB B. Pereira
(203) 710-6066
Source:
Elliman
Added: Apr 28
Changed: Aug 30
Last Checked: Aug 30 at 5:32PM
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 JB B. Pereira
Investment Insights
Based on property information with market context.
Built in 1933, this duplex includes two maintained main units along with finished space on the third floor and in the basement. The primary units are habitable and positioned for rental use, while the property is being offered as-is.
Located at 1515 Capitol Ave in Bridgeport, the property is near the Fairfield border. Walk Score is 50, Bike Score is 36, and Transit Score is 38, reflecting car-dependent access with some transit availability.
Located at 1515 Capitol Ave in Bridgeport, the property is near the Fairfield border. Walk Score is 50, Bike Score is 36, and Transit Score is 38, reflecting car-dependent access with some transit availability.
Key Highlights
- Duplex with two maintained, habitable main units
- Finished 3rd floor provides additional usable space
- Finished basement included
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
$46,303
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
6.52%
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%
$926,060
$926.1K
Cap Rate 7%
$661,471
$661.5K
Cap Rate 9%
$514,478
$514.5K
Market Conditions
NOI Build-Up for 3,573 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
$70.7K $19.80/SF
− Vacancy
−$4.6K −$1.29/SF
EGI
$66.1K $18.51/SF
− OpEx
−$19.8K −$5.55/SF
NOI
$46.3K $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%
$926,060
Cap Rate 7%
$661,471
Cap Rate 9%
$514,478
Alternative Uses
Best Use
Multifamily LT 5
$661.5K
$578.8K – $771.7K
NOI $46,303 @ 7.0% cap · market cap 6.52%
Second Best
Apartment 5plus
$600.4K
$525.4K – $700.5K
NOI $42,028 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$1.02M
$892.3K – $1.19M
NOI $71,387 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
656
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
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 - Two habitable main units are complemented by finished basement and third-floor space.
Where is this duplex located?
The property is located at 1515 Capitol Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Duplex with two maintained, habitable main units; Finished 3rd floor provides additional usable space; Finished basement included
