Two-Unit Duplex
For Sale
$430,000
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$231.68
Days on Market83
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
Listed By:
Cisco Borres · License #RES.0804862
(203) 491-0075
Source:
Homesbyshoshana
Added: Jul 24
Changed: Oct 2
Last Checked: Oct 7 at 1:45PM
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 / Yr
$24,052
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
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
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 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 5.59%
Second Best
Apartment 5plus
$311.9K
$272.9K – $363.9K
NOI $21,832 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$529.7K
$463.5K – $618.0K
NOI $37,082 @ 7.0% cap · market cap 8.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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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 $430,000.
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
