Side-by-Side Duplex with
For Sale
$539,900
Pending
234 Queen Street, Bridgeport, CT 06606
Two residential units offer eat-in kitchens, connected living areas, hardwood floors, basements, and laundry hookups.
Property Size2,094 SF
Days on Market12
Property Features for 234 Queen Street
General Information
Standard status
Pending
Size
2,094 SF
Total Parking Spaces
2
Property subtype
2 Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
Eat-In Kitchen
Hardwood Floors
Full Basement
Washer/Dryer Hookups
Building Details
Year Built
1958
Buildings
1
Construction
Side-by-Side
Listing Agency:
RE/MAX Right Choice
Listed By:
Jaime Pereira · License #793684
(203) 526-0444
Source:
Lockandkeyre
Added: Sep 16
Changed: Sep 26
Last Checked: Sep 26 at 9:28AM
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 RE/MAX Right Choice
Investment Insights
Based on property information with market context.
This side-by-side duplex in Bridgeport’s North End contains two residential units with practical, similarly arranged interiors. Each unit features an eat-in kitchen that opens toward the living room, along with two bedrooms finished with hardwood flooring. Full basement areas provide additional utility space and washer/dryer connections.
The property includes a detached two-car garage and is located at 234 Queen St in Bridgeport, Connecticut. Built in 1958, the duplex offers a straightforward two-family configuration with separate living spaces and supporting basement storage or utility areas. Walk Score is 59, Bike Score is 49, and Transit Score is 35.
The property includes a detached two-car garage and is located at 234 Queen St in Bridgeport, Connecticut. Built in 1958, the duplex offers a straightforward two-family configuration with separate living spaces and supporting basement storage or utility areas. Walk Score is 59, Bike Score is 49, and Transit Score is 35.
Key Highlights
- Side‑by‑side duplex with two residential units
- Each unit includes an eat‑in kitchen, living room, and 2 bedrooms
- Hardwood flooring in both units’ bedrooms
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
$27,136
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
5.03%
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%
$542,720
$542.7K
Cap Rate 7%
$387,657
$387.7K
Cap Rate 9%
$301,511
$301.5K
Market Conditions
NOI Build-Up for 2,094 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
$41.5K $19.80/SF
− Vacancy
−$2.7K −$1.29/SF
EGI
$38.8K $18.51/SF
− OpEx
−$11.6K −$5.55/SF
NOI
$27.1K $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%
$542,720
Cap Rate 7%
$387,657
Cap Rate 9%
$301,511
Alternative Uses
Best Use
Multifamily LT 5
$387.7K
$339.2K – $452.3K
NOI $27,136 @ 7.0% cap · market cap 5.03%
Second Best
Apartment 5plus
$351.9K
$307.9K – $410.5K
NOI $24,631 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$597.7K
$523.0K – $697.3K
NOI $41,837 @ 7.0% cap · market cap 7.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
922
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
Median Home Value
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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 residential units offer eat-in kitchens, connected living areas, hardwood floors, basements, and laundry hookups.
Where is this duplex located?
The property is located at 234 Queen Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $539,900.
What are key features of this property?
This property features: Side‑by‑side duplex with two residential units; Each unit includes an eat‑in kitchen, living room, and 2 bedrooms; Hardwood flooring in both units’ bedrooms
