Updated Three-Family Home with
For Sale
$630,000
195 Lenox Ave, Bridgeport, CT 06605
Modern, versatile 3-family home with parking, ideal for investors.
Property Size3,069 SF
Lot Size0.09 Acres
Days on Market270
Property Features for 195 Lenox Ave
General Information
Standard status
Active
Size
3,069 SF
Lot size
0.09 Acres
Property subtype
Multi Family
Building Details
Building Size
3,069 SF
Year Built
1920
Listing Agency:
(475) 259-4965
Listed By:
Iftear Kader
(475) 259-4965
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:42AM
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 Iftear Kader
Investment Insights
Based on property information with market context.
This is a modern, versatile three-family home suitable for investors and first-time buyers. The property features 6 bedrooms, 3 full bathrooms, and a full basement. The first and second floors each allow for an extra bedroom conversion, potentially maximizing cash flow. The units are updated and well-maintained, offering turn-key living for tenants and comfort for owner-occupants. Secure inside parking is available for up to 4 vehicles, with additional on-street parking. The property is located minutes from I-95, transportation, shopping, and local amenities. It offers both accessibility and strong long-term value. This property is located at 195 Lenox Avenue, Bridgeport, CT 06605.
Key Highlights
- Excellent rental potential, convert floors to add bedrooms.
- Secure inside parking for 4 vehicles, a rare amenity.
- Updated and well‑maintained units, turn‑key living.
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
$39,771
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
6.31%
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%
$795,420
$795.4K
Cap Rate 7%
$568,157
$568.2K
Cap Rate 9%
$441,900
$441.9K
Market Conditions
NOI Build-Up for 3,069 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
$60.8K $19.80/SF
− Vacancy
−$3.9K −$1.29/SF
EGI
$56.8K $18.51/SF
− OpEx
−$17.0K −$5.55/SF
NOI
$39.8K $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%
$795,420
Cap Rate 7%
$568,157
Cap Rate 9%
$441,900
Alternative Uses
Best Use
Multifamily LT 5
$568.2K
$497.1K – $662.9K
NOI $39,771 @ 7.0% cap · market cap 6.31%
Second Best
Apartment 5plus
$515.7K
$451.3K – $601.7K
NOI $36,100 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$876.0K
$766.5K – $1.02M
NOI $61,317 @ 7.0% cap · market cap 9.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,126
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Modern, versatile 3-family home with parking, ideal for investors.
Where is this multifamily property located?
The property is located at 195 Lenox Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Excellent rental potential, convert floors to add bedrooms.; Secure inside parking for 4 vehicles, a rare amenity.; Updated and well‑maintained units, turn‑key living.
