Two-Family Duplex on Dead-End
New
For Sale
$499,900
74-76 Hill St, Bridgeport, CT 06606
Two residential units offer separate kitchens and flexible living and dining arrangements.
Property Size2,438 SF
Days on Market4
Property Features for 74-76 Hill St
General Information
Standard status
Active
Size
2,438 SF
Property subtype
Multi Family
Building Details
Building Size
2,438 SF
Year Built
1918
Listing Agency:
Carrena Property Mgmt & Realty
Listed By:
Chris Carrena
(203) 258-6995
Source:
Elliman
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 7:30AM
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 Carrena Property Mgmt & Realty
Investment Insights
Based on property information with market context.
This duplex contains two residential units. The first-floor apartment has 2 bedrooms, 1 full bathroom, a kitchen, and a combined living room and dining room. The second-floor unit includes 2 bedrooms, a kitchen, living room, and dining room; its current arrangement uses the living room as additional bedroom and living space, with the dining room serving as the living room.
The property is positioned on a dead-end street near North Avenue and Boston Avenue. Restaurants, shopping, public transportation, and major highways are identified nearby. Built in 1918, the property may also be considered alongside the neighboring two-family property at 64-66 Hill Street, which is separately available for sale.
The property is positioned on a dead-end street near North Avenue and Boston Avenue. Restaurants, shopping, public transportation, and major highways are identified nearby. Built in 1918, the property may also be considered alongside the neighboring two-family property at 64-66 Hill Street, which is separately available for sale.
Key Highlights
- Two‑family duplex with 2 residential units
- First‑floor unit includes 2 bedrooms and 1 full bathroom
- Second‑floor unit includes 2 bedrooms and flexible living space
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
$31,594
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
6.32%
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%
$631,880
$631.9K
Cap Rate 7%
$451,343
$451.3K
Cap Rate 9%
$351,044
$351.0K
Market Conditions
NOI Build-Up for 2,438 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
$48.3K $19.80/SF
− Vacancy
−$3.1K −$1.29/SF
EGI
$45.1K $18.51/SF
− OpEx
−$13.5K −$5.55/SF
NOI
$31.6K $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%
$631,880
Cap Rate 7%
$451,343
Cap Rate 9%
$351,044
Alternative Uses
Best Use
Multifamily LT 5
$451.3K
$394.9K – $526.6K
NOI $31,594 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$409.7K
$358.5K – $478.0K
NOI $28,678 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$695.9K
$608.9K – $811.8K
NOI $48,710 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,169
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?
Duplex - Two residential units offer separate kitchens and flexible living and dining arrangements.
Where is this duplex located?
The property is located at 74-76 Hill St Bridgeport, CT.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑family duplex with 2 residential units; First‑floor unit includes 2 bedrooms and 1 full bathroom; Second‑floor unit includes 2 bedrooms and flexible living space
