Three-Unit Multifamily
New
For Sale
$699,900
168-170 Kelsey Street, Bridgeport, CT 06607
Multifamily property with central air, interior laundry hookups, and a detached garage.
Property Size1,912 SF
Price / SF$234.39
Days on Market7
Property Features for 168-170 Kelsey Street
General Information
Standard status
Active
Size
1,912 SF
Property subtype
2 Family
Units
Unit Mix
3BR/2BA, 2BR/2BA, 2-3BR/1BA
Multifamily Units
3
Amenities
central air
laundry hookups
stainless steel appliances
Building Details
Building Size
1,912 SF
Year Built
1912
Listing Agency:
Berkshire Hathaway NE Prop.
(203) 640-8752
Listed By:
Towanna Randall · License #452508574
(203) 640-8752
Source:
Iverty
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 11 at 6:13AM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
This three-unit multifamily property offers 2,986 square feet across a configuration totaling 8 bedrooms and 5 bathrooms. The first-floor residence includes an open kitchen, living, and dining arrangement, a primary suite, granite countertops, stainless steel appliances, recessed lighting, hardwood floors, and interior laundry hookups. Another unit spans the second and third floors and includes a bright living area, dining space, kitchen, primary suite, additional bedroom, two bathrooms, and a flexible front room. The third unit provides additional bedroom space and a full bathroom.
Exterior features include a detached two-car garage and driveway parking. Central air serves the entire property. Built in 1912, the building is located at 168-170 Kelsey Street in Bridgeport, CT 06607.
Exterior features include a detached two-car garage and driveway parking. Central air serves the entire property. Built in 1912, the building is located at 168-170 Kelsey Street in Bridgeport, CT 06607.
Key Highlights
- Triplex with 2,986 SF, 8 bedrooms, and 5 bathrooms
- Three residential units with varied layouts, including a primary suite in two units
- First‑floor unit features granite counters, stainless steel appliances, recessed lighting, and hardwood flooring
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
$38,696
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
5.53%
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%
$773,920
$773.9K
Cap Rate 7%
$552,800
$552.8K
Cap Rate 9%
$429,956
$430.0K
Market Conditions
NOI Build-Up for 2,986 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
$59.1K $19.80/SF
− Vacancy
−$3.8K −$1.29/SF
EGI
$55.3K $18.51/SF
− OpEx
−$16.6K −$5.55/SF
NOI
$38.7K $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%
$773,920
Cap Rate 7%
$552,800
Cap Rate 9%
$429,956
Alternative Uses
Best Use
Multifamily LT 5
$552.8K
$483.7K – $644.9K
NOI $38,696 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$501.8K
$439.1K – $585.4K
NOI $35,124 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$852.3K
$745.7K – $994.3K
NOI $59,659 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,057
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
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 - Multifamily property with central air, interior laundry hookups, and a detached garage.
Where is this triplex located?
The property is located at 168-170 Kelsey Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Triplex with 2,986 SF, 8 bedrooms, and 5 bathrooms; Three residential units with varied layouts, including a primary suite in two units; First‑floor unit features granite counters, stainless steel appliances, recessed lighting, and hardwood flooring
