Two-Unit Duplex
For Sale
$475,000
1626 Iranistan Ave, Bridgeport, CT 06604
Currently rented duplex with separate utilities, basement storage, and distinct living spaces for each household.
Property Size1,856 SF
Price / SF$255.93
Days on Market38
Property Features for 1626 Iranistan Ave
General Information
Standard status
Active
Size
1,856 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
requires minimal updating
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1887
Buildings
1
Listing Agency:
RE/MAX Right Choice
(203) 491-0075
Listed By:
Cisco Borres · License #RES.0804862
Source:
Homesbyshoshana
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 25 at 4:51AM
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 RE/MAX Right Choice
Investment Insights
Based on property information with market context.
Built in 1887, this two-unit duplex includes separate residences with independent heating systems, hot water heaters, and electrical services. The first-floor apartment has a living room, eat-in kitchen, two bedrooms, and its own laundry room. Upstairs, the second residence provides a living room, kitchen, two bedrooms, and an office. A full basement adds storage capacity.
The property is located on Iranistan Avenue in Bridgeport, near I-95, Route 8, the Bridgeport Train Station, public transportation, shopping, and other area amenities. Both units are currently rented, providing an existing occupancy profile for an investor or owner seeking a residential income property.
The property is located on Iranistan Avenue in Bridgeport, near I-95, Route 8, the Bridgeport Train Station, public transportation, shopping, and other area amenities. Both units are currently rented, providing an existing occupancy profile for an investor or owner seeking a residential income property.
Key Highlights
- Two‑family duplex with both units currently rented
- First‑floor unit includes 2 bedrooms, eat‑in kitchen, and dedicated laundry room
- Second‑floor unit offers 2 bedrooms plus an office
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
$24,052
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
5.06%
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%
$481,040
$481.0K
Cap Rate 7%
$343,600
$343.6K
Cap Rate 9%
$267,244
$267.2K
Market Conditions
NOI Build-Up for 1,856 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
$36.7K $19.80/SF
− Vacancy
−$2.4K −$1.29/SF
EGI
$34.4K $18.51/SF
− OpEx
−$10.3K −$5.55/SF
NOI
$24.1K $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%
$481,040
Cap Rate 7%
$343,600
Cap Rate 9%
$267,244
Alternative Uses
Best Use
Multifamily LT 5
$343.6K
$300.7K – $400.9K
NOI $24,052 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$311.9K
$272.9K – $363.9K
NOI $21,832 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$529.7K
$463.5K – $618.0K
NOI $37,082 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,477
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 - Currently rented duplex with separate utilities, basement storage, and distinct living spaces for each household.
Where is this duplex located?
The property is located at 1626 Iranistan Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Two‑family duplex with both units currently rented; First‑floor unit includes 2 bedrooms, eat‑in kitchen, and dedicated laundry room; Second‑floor unit offers 2 bedrooms plus an office
