Three-Family Residential Income
For Sale
$950,000
Pending
16 Charron Street, Bridgeport, CT 06606
Well-maintained three-unit property with off-street parking, a two-car garage, porch, patio, and fenced yard.
Property Size2,847 SF
Days on Market62
Property Features for 16 Charron Street
General Information
Standard status
Pending
Size
2,847 SF
Property subtype
3 Family
Building Details
Year Built
1916
Listing Agency:
Rosana Melo Realty
Listed By:
Rosania Melo · License #REB.0795867
(203) 545-1459
Source:
Lockandkeyre
Added: Jul 8
Changed: Aug 20
Last Checked: Aug 19 at 7:44AM
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 Rosana Melo Realty
Investment Insights
Based on property information with market context.
This well-maintained three-family residential income property includes three separate units. Unit 1 offers 6 rooms with 3 bedrooms and 1 full bathroom. Unit 2 offers 6 rooms with 2 bedrooms and 1 full bathroom. Unit 3 offers 4 rooms with 1 bedroom and 1 full bathroom. Interior features include hardwood flooring, and the property includes a welcoming front porch, patio, and a spacious fenced backyard with concrete and grassy areas.
The property includes off-street parking and a two-car garage. Public remarks indicate convenient access to public transportation and a range of everyday services and destinations, including hospitals, pharmacies, grocery stores, restaurants, shopping, schools, parks, and major highways.
Overall, the building is configured as a fully rented three-family setup with dedicated unit layouts and on-site outdoor and parking amenities.
The property includes off-street parking and a two-car garage. Public remarks indicate convenient access to public transportation and a range of everyday services and destinations, including hospitals, pharmacies, grocery stores, restaurants, shopping, schools, parks, and major highways.
Overall, the building is configured as a fully rented three-family setup with dedicated unit layouts and on-site outdoor and parking amenities.
Key Highlights
- 1916‑built fully rented 3‑family property with 3 separate units
- Unit mix: Unit 1 offers 6 rooms/3 bedrooms/1 full bath; Unit 2 offers 6 rooms/2 bedrooms/1 full bath
- Unit 3 offers 4 rooms/1 bedroom/1 full 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
$36,895
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
3.88%
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%
$737,900
$737.9K
Cap Rate 7%
$527,071
$527.1K
Cap Rate 9%
$409,944
$409.9K
Market Conditions
NOI Build-Up for 2,847 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
$56.4K $19.80/SF
− Vacancy
−$3.7K −$1.29/SF
EGI
$52.7K $18.51/SF
− OpEx
−$15.8K −$5.55/SF
NOI
$36.9K $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%
$737,900
Cap Rate 7%
$527,071
Cap Rate 9%
$409,944
Alternative Uses
Best Use
Multifamily LT 5
$527.1K
$461.2K – $614.9K
NOI $36,895 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$478.4K
$418.6K – $558.2K
NOI $33,489 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$812.6K
$711.0K – $948.0K
NOI $56,882 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
933
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 - Well-maintained three-unit property with off-street parking, a two-car garage, porch, patio, and fenced yard.
Where is this triplex located?
The property is located at 16 Charron Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 1916‑built fully rented 3‑family property with 3 separate units; Unit mix: Unit 1 offers 6 rooms/3 bedrooms/1 full bath; Unit 2 offers 6 rooms/2 bedrooms/1 full bath; Unit 3 offers 4 rooms/1 bedroom/1 full bath
