Well-Maintained Two-Family
For Sale
$599,000
Pending
227 Newfield Avenue, Bridgeport, CT 06607
Two-family home near Steelpointe harbor, ideal for owners or investors.
Property Size1,897 SF
Days on Market153
Property Features for 227 Newfield Avenue
General Information
Standard status
Pending
Size
1,897 SF
Property subtype
2 Family
Building Details
Building Size
1,897 SF
Year Built
1897
Listing Agency:
William Raveis Real Estate
Listed By:
Charly Talledo
(203) 461-1152
Source:
Iverty
Added: Apr 8
Changed: Aug 23
Last Checked: Jul 23 at 5:36AM
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 William Raveis Real Estate
Investment Insights
Based on property information with market context.
Located near the Steelpointe harbor development, 227 Newfield Avenue is a two-family home suitable for both owner-occupants and investors. The property includes two units, each featuring 2 bedrooms, an eat-in kitchen, a living room, and 1 full bath. Additionally, the property features a fully finished lower level that could serve as an in-law suite or a private work-from-home space. A fenced backyard and a 2-car detached garage are included. The property is conveniently located near shopping, dining, schools, and public transportation. The property size is 1672 square feet and is being sold as-is.
Key Highlights
- Two spacious units, ideal for owner‑occupancy or investment.
- Fully finished lower level suitable as an in‑law suite or work‑from‑home space.
- Convenient location near shopping, dining, schools, and public transportation.
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
$21,668
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
3.62%
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%
$433,360
$433.4K
Cap Rate 7%
$309,543
$309.5K
Cap Rate 9%
$240,756
$240.8K
Market Conditions
NOI Build-Up for 1,672 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
$33.1K $19.80/SF
− Vacancy
−$2.2K −$1.29/SF
EGI
$31.0K $18.51/SF
− OpEx
−$9.3K −$5.55/SF
NOI
$21.7K $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%
$433,360
Cap Rate 7%
$309,543
Cap Rate 9%
$240,756
Alternative Uses
Best Use
Multifamily LT 5
$309.5K
$270.9K – $361.1K
NOI $21,668 @ 7.0% cap · market cap 3.62%
Second Best
Apartment 5plus
$281.0K
$245.8K – $327.8K
NOI $19,667 @ 7.0% cap · market cap 3.28%
Theoretical Best
Office A
$477.2K
$417.6K – $556.8K
NOI $33,406 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
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-family home near Steelpointe harbor, ideal for owners or investors.
Where is this duplex located?
The property is located at 227 Newfield Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two spacious units, ideal for owner‑occupancy or investment.; Fully finished lower level suitable as an in‑law suite or work‑from‑home space.; Convenient location near shopping, dining, schools, and public transportation.
