Updated Two-Unit
For Sale
$549,000
193 Wilson St, Bridgeport, CT 06605
Two refreshed apartments offer separate entrances, basement storage, and off-street parking.
Property Size1,430 SF
Days on Market9
Property Features for 193 Wilson St
General Information
Standard status
Active
Size
1,430 SF
Property subtype
Multi Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Average Monthly Rent
$1,650
Building Details
Building Size
1,430 SF
Year Built
1910
Listing Agency:
William Raveis Real Estate
Listed By:
Kaitlyn Walsh
(203) 231-1950
Source:
Elliman
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 26 at 11:09AM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
This two-family property contains two updated 1-bedroom apartments, each with a living room, eat-in kitchen, full bathroom, bedroom, and private access. The first-floor residence adds high ceilings, a foyer or office nook, and both front and rear entrances; the upper unit has its own front entry and staircase. Improvements include updated cabinetry and countertops, plumbing fixtures, appliances, flooring, recessed lighting, HVAC systems, and exterior landscaping and stonework.
The property includes a private driveway, a large rear gravel parking area, a front porch, and an unfinished basement for storage. Natural gas provides heat and hot water, while public water and sewer serve the building. Both units are currently leased. The property is located at 193 Wilson St in Bridgeport, near Fairfield Ave shopping, restaurants, nightlife, and Fairfield Metro Train station. Walk Score is 80, Bike Score is 50, and Transit Score is 46. Built in 1910.
The property includes a private driveway, a large rear gravel parking area, a front porch, and an unfinished basement for storage. Natural gas provides heat and hot water, while public water and sewer serve the building. Both units are currently leased. The property is located at 193 Wilson St in Bridgeport, near Fairfield Ave shopping, restaurants, nightlife, and Fairfield Metro Train station. Walk Score is 80, Bike Score is 50, and Transit Score is 46. Built in 1910.
Key Highlights
- Two updated 1‑bedroom apartments with separate entrances
- First‑floor unit includes high ceilings, foyer or office nook, and front and rear access
- Private driveway with large rear gravel area for off‑street parking
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
$18,532
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
3.38%
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%
$370,640
$370.6K
Cap Rate 7%
$264,743
$264.7K
Cap Rate 9%
$205,911
$205.9K
Market Conditions
NOI Build-Up for 1,430 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
$28.3K $19.80/SF
− Vacancy
−$1.8K −$1.29/SF
EGI
$26.5K $18.51/SF
− OpEx
−$7.9K −$5.55/SF
NOI
$18.5K $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%
$370,640
Cap Rate 7%
$264,743
Cap Rate 9%
$205,911
Alternative Uses
Best Use
Multifamily LT 5
$264.7K
$231.7K – $308.9K
NOI $18,532 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$240.3K
$210.3K – $280.4K
NOI $16,821 @ 7.0% cap · market cap 3.06%
Theoretical Best
Office A
$408.2K
$357.1K – $476.2K
NOI $28,571 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,298
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
Median Home Value
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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 - Two refreshed apartments offer separate entrances, basement storage, and off-street parking.
Where is this duplex located?
The property is located at 193 Wilson St Bridgeport, CT.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Two updated 1‑bedroom apartments with separate entrances; First‑floor unit includes high ceilings, foyer or office nook, and front and rear access; Private driveway with large rear gravel area for off‑street parking
