2-Unit
For Sale
$465,000
175 Alexander Drive, Bridgeport, CT 06606
Two-family residential property offering a defined income-producing configuration in Bridgeport’s north end.
Property Size1,770 SF
Days on Market83
Property Features for 175 Alexander Drive
General Information
Standard status
Active
Size
1,770 SF
Total Parking Spaces
4
Property subtype
Multi Family Home
Zoning
RA
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,367
Building Details
Building Size
1,770 SF
Year Built
1942
Units
2
Listing Agency:
Delibro Realty Group, LLC
(203) 333-8804
Listed By:
Bobby Delibro
(203) 333-8804
Source:
Westshorerealty
Added: Jun 10
Changed: Aug 30
Last Checked: Aug 30 at 5:45PM
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 Delibro Realty Group, LLC
Investment Insights
Based on property information with market context.
This 1,770-square-foot duplex is configured as a two-family residential property at 175 Alexander Drive in Bridgeport, Connecticut. The building dates to 1942 and provides a dedicated two-unit format for residential income ownership.
The property is situated in Bridgeport’s north end, with the address listed as 175 Alexander Drive, Bridgeport, CT 06606.
The property is situated in Bridgeport’s north end, with the address listed as 175 Alexander Drive, Bridgeport, CT 06606.
Key Highlights
- Two‑family duplex configuration
- 1,770 square feet
- Built in 1942
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
$22,938
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
4.93%
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%
$458,760
$458.8K
Cap Rate 7%
$327,686
$327.7K
Cap Rate 9%
$254,867
$254.9K
Market Conditions
NOI Build-Up for 1,770 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
$35.0K $19.80/SF
− Vacancy
−$2.3K −$1.29/SF
EGI
$32.8K $18.51/SF
− OpEx
−$9.8K −$5.55/SF
NOI
$22.9K $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%
$458,760
Cap Rate 7%
$327,686
Cap Rate 9%
$254,867
Alternative Uses
Best Use
Multifamily LT 5
$327.7K
$286.7K – $382.3K
NOI $22,938 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$297.4K
$260.3K – $347.0K
NOI $20,820 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$505.2K
$442.1K – $589.4K
NOI $35,364 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,144
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-family residential property offering a defined income-producing configuration in Bridgeport’s north end.
Where is this duplex located?
The property is located at 175 Alexander Drive Bridgeport, CT.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Two‑family duplex configuration; 1,770 square feet; Built in 1942
