Updated Two-Family
For Sale
$675,000
Pending
20-22 Grasso Terrace, Bridgeport, CT 06604
Two residential units feature hardwood floors, refreshed kitchen space, and shared outdoor amenities.
Property Size2,184 SF
Days on Market62
Property Features for 20-22 Grasso Terrace
General Information
Standard status
Pending
Size
2,184 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,780
Amenities
hardwood floors
private patio
outdoor kitchen space
garage
finished lower-level space
Building Details
Building Size
2,184 SF
Year Built
1958
Buildings
1
Listing Agency:
Compass Connecticut, LLC
Listed By:
Helene Daly · License #RES.0755863
(203) 913-4026
Source:
Higginsgroup
Added: Aug 15
Changed: Oct 2
Last Checked: Oct 13 at 3:36AM
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 Compass Connecticut, LLC
Investment Insights
Based on property information with market context.
Built in 1958, this duplex at 20-22 Grasso Ter includes two residential units, each arranged with two bedrooms, one full bathroom, and hardwood flooring across the living areas. The first-floor residence adds a newer kitchen and a finished lower level with a second full bathroom, creating additional room for office, recreation, or studio use. Unit #20 has a Weil-McLain furnace that is six months old and a newer hot water heater.
Outdoor features include a landscaped lawn, private patio, and dedicated outdoor kitchen area. The property also provides a spacious driveway and two-car garage for off-street parking and storage. The address is near the Fairfield line and Brooklawn Country Club in Bridgeport, Connecticut.
Outdoor features include a landscaped lawn, private patio, and dedicated outdoor kitchen area. The property also provides a spacious driveway and two-car garage for off-street parking and storage. The address is near the Fairfield line and Brooklawn Country Club in Bridgeport, Connecticut.
Key Highlights
- Two residential units, each with 2 bedrooms and 1 full bathroom
- First‑floor unit includes a newer kitchen and finished lower level
- Finished lower level adds an additional full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,303
Cap Rate
4.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$566,060
$566.1K
Cap Rate 7%
$404,329
$404.3K
Cap Rate 9%
$314,478
$314.5K
Market Conditions
NOI Build-Up for 2,184 SF
Gross rent
$43.2K $19.80/SF
− Vacancy
−$2.8K −$1.29/SF
EGI
$40.4K $18.51/SF
− OpEx
−$12.1K −$5.55/SF
NOI
$28.3K $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 Rate 5%
$566,060
Cap Rate 7%
$404,329
Cap Rate 9%
$314,478
Alternative Uses
Best Use
Multifamily LT 5
$404.3K
$353.8K – $471.7K
NOI $28,303 @ 7.0% cap · market cap 4.19%
Second Best
Apartment 5plus
$367.0K
$321.1K – $428.2K
NOI $25,690 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$623.4K
$545.4K – $727.3K
NOI $43,635 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
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 residential units feature hardwood floors, refreshed kitchen space, and shared outdoor amenities.
Where is this duplex located?
The property is located at 20-22 Grasso Terrace Bridgeport, CT.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Two residential units, each with 2 bedrooms and 1 full bathroom; First‑floor unit includes a newer kitchen and finished lower level; Finished lower level adds an additional full bathroom
