Side-by-Side Duplex with
New
For Sale
$539,900
234 Queen Street, Bridgeport, CT 06606
Multi-Family For Sale, Units are Side-by-Side, Bridgeport, CT
Property Size2,094 SF
Lot Size0.17 Acres
Price / SF$257.83
Days on Market4
Property Features for 234 Queen Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RA
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Basement, Bedroom 1, Bathroom 2, Bedroom 2, Bedroom 4
Parking
4
Basement
Full, Unfinished
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Wayne St or Madison Ave to Queen St
Subdivision
North End
Standard status
Active
Size
2,094 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9447
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Amenities
full basement
washer/dryer hook-ups
Building Details
Year built
1958
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 372-6996
Listed By:
Jaime Pereira · License #793684
(203) 526-0444
Added: Sep 16
Last Checked: Sep 19 at 12:06AM
MLS# 24207120
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 234 Queen Street in Bridgeport, this 2,094-square-foot duplex contains two side-by-side residential units. Each unit includes an eat-in kitchen connected to the living room, two bedrooms with hardwood flooring, and access to a full basement with washer and dryer hookups.
The property sits on 0.17 acres and includes a detached two-car garage. Built in 1958, it has hot water heating, public water, and public sewer. The property is identified with RA zoning and is situated in Bridgeport’s 06606 postal area.
The property sits on 0.17 acres and includes a detached two-car garage. Built in 1958, it has hot water heating, public water, and public sewer. The property is identified with RA zoning and is situated in Bridgeport’s 06606 postal area.
Key Highlights
- 2,094‑square‑foot side‑by‑side duplex at 234 Queen Street
- Each unit includes 2 bedrooms and hardwood flooring
- Eat‑in kitchens open to the living rooms
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 offer eat-in kitchens, open living areas, hardwood floors, and full basement access.
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: 2,094‑square‑foot side‑by‑side duplex at 234 Queen Street; Each unit includes 2 bedrooms and hardwood flooring; Eat‑in kitchens open to the living rooms
