Updated Two-Family
For Sale
$675,000
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 Market15
Property Features for 20-22 Grasso Terrace
General Information
Standard status
Active
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
(203) 913-4026
Listed By:
Helene Daly · License #RES.0755863
(203) 913-4026
Source:
Higginsgroup
Added: Aug 15
Changed: Aug 28
Last Checked: Aug 29 at 2:10PM
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 = 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
$28,303
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
4.19%
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%
$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
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
$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 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%
$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.
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
