Renovated Duplex with Finished
For Sale
$700,000
1922 Boston Avenue, Bridgeport, CT 06610
Two updated units offer brick construction, outdoor space, abundant natural light, and additional finished lower-level area.
Property Size2,988 SF
Price / SF$234.27
Days on Market306
Property Features for 1922 Boston Avenue
General Information
Standard status
Active
Size
2,988 SF
Total Parking Spaces
3
Property subtype
Multi-Family / 2 Family
Zoning
ORS
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,992
Amenities
finished basement
private patio
No
Hot Air
22
Window Unit
Porch-Enclosed, Porch, Garden Area, Patio
Not Applicable
Building Details
Year Built
1917
Buildings
1
Construction
brick
Listing Agency:
eXp Realty
(866) 828-3951
Listed By:
Angel Mora · License #RES.0812060
(866) 828-3951
Source:
Compass
Added: Oct 30, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:07PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Built in 1917, this 2,988-square-foot duplex presents a solid brick exterior with two updated residential units. Renovations include new kitchens, bathrooms, flooring, and interior paint, while the open layouts benefit from substantial natural light. The finished basement adds flexible living or recreation space, and the property includes an enclosed porch, additional porch area, private patio, and garden area.
Positioned on a corner lot, the property provides three private garage spaces and includes hot-air heating and a window unit. The property is zoned ORS and located at 1922 Boston Avenue in Bridgeport, Connecticut, providing a well-defined two-family configuration with substantial interior and exterior improvements.
Positioned on a corner lot, the property provides three private garage spaces and includes hot-air heating and a window unit. The property is zoned ORS and located at 1922 Boston Avenue in Bridgeport, Connecticut, providing a well-defined two-family configuration with substantial interior and exterior improvements.
Key Highlights
- 2,988‑square‑foot duplex on a corner lot
- Renovated kitchens, bathrooms, flooring, and interior paint
- Finished basement for additional living or recreation space
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
$38,722
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%
$774,440
$774.4K
Cap Rate 7%
$553,171
$553.2K
Cap Rate 9%
$430,244
$430.2K
Market Conditions
NOI Build-Up for 2,988 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
$59.2K $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%
$774,440
Cap Rate 7%
$553,171
Cap Rate 9%
$430,244
Alternative Uses
Best Use
Multifamily LT 5
$553.2K
$484.0K – $645.4K
NOI $38,722 @ 7.0% cap · market cap 5.53%
Second Best
Apartment 5plus
$502.1K
$439.3K – $585.8K
NOI $35,147 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$852.8K
$746.2K – $995.0K
NOI $59,699 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,643
Businesses Nearby
Explore this area
Business Placement
Demographics for 06610, CT
23,347
Population
9,292
Households
2.5
Avg Household Size
39
Median Age
17%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
7,531
Density / Sq Mi
$50,836
Median Household Income
$36,698
Median Earnings
$1,364
Median Rent
$224,700
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 updated units offer brick construction, outdoor space, abundant natural light, and additional finished lower-level area.
Where is this duplex located?
The property is located at 1922 Boston Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 2,988‑square‑foot duplex on a corner lot; Renovated kitchens, bathrooms, flooring, and interior paint; Finished basement for additional living or recreation space
