Triplex with Detached Two-Car
For Sale
$740,000
2422-2426 East Main Street, Bridgeport, CT 06610
Legal three-family home with three two-bedroom apartments and a detached two-car garage, built in 1941.
Property Size2,790 SF
Price / SF$265.23
Days on Market38
Property Features for 2422-2426 East Main Street
General Information
Standard status
Active
Size
2,790 SF
Total Parking Spaces
2
Property subtype
3 Family
Building Details
Year Built
1941
Buildings
2
Tenancy
Multi
Listing Agency:
Rosana Melo Realty
Listed By:
Rosania Melo · License #REB.0795867
(203) 545-1459
Source:
Lockandkeyre
Added: Jul 27
Changed: Sep 2
Last Checked: Sep 1 at 4:59PM
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 Rosana Melo Realty
Investment Insights
Based on property information with market context.
This legal three-family triplex offers three spacious two-bedroom apartments in good condition. The property includes a detached two-car garage, providing convenient off-street storage and parking for occupants.
Built in 1941, the home is described as well maintained and positioned for flexible living or investment use. It’s conveniently located near shopping, restaurants, gas stations, public transportation, major highways, and the amenities Bridgeport has to offer.
With the townhouse-style configuration of three separate apartments, the building is designed for straightforward owner-occupant living with rental support, or for an investor seeking multi-unit cash-flow potential in a single asset.
Built in 1941, the home is described as well maintained and positioned for flexible living or investment use. It’s conveniently located near shopping, restaurants, gas stations, public transportation, major highways, and the amenities Bridgeport has to offer.
With the townhouse-style configuration of three separate apartments, the building is designed for straightforward owner-occupant living with rental support, or for an investor seeking multi-unit cash-flow potential in a single asset.
Key Highlights
- Legal three‑family triplex with three two‑bedroom apartments
- Detached two‑car garage
- Built in 1941
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
$36,156
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
4.89%
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%
$723,120
$723.1K
Cap Rate 7%
$516,514
$516.5K
Cap Rate 9%
$401,733
$401.7K
Market Conditions
NOI Build-Up for 2,790 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
$55.2K $19.80/SF
− Vacancy
−$3.6K −$1.29/SF
EGI
$51.7K $18.51/SF
− OpEx
−$15.5K −$5.55/SF
NOI
$36.2K $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%
$723,120
Cap Rate 7%
$516,514
Cap Rate 9%
$401,733
Alternative Uses
Best Use
Multifamily LT 5
$516.5K
$452.0K – $602.6K
NOI $36,156 @ 7.0% cap · market cap 4.89%
Second Best
Apartment 5plus
$468.8K
$410.2K – $547.0K
NOI $32,818 @ 7.0% cap · market cap 4.43%
Theoretical Best
Office A
$796.3K
$696.8K – $929.1K
NOI $55,743 @ 7.0% cap · market cap 7.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
584
Businesses Nearby
Explore this area
Business Placement
Demographics for 06610, CT
23,347
Population
9,292
Households
2.5
Avg Household Size
39
Median Age
17%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
7,531
Density / Sq Mi
$50,836
Median Household Income
$36,698
Median Earnings
$1,364
Median Rent
$224,700
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?
Triplex - Legal three-family home with three two-bedroom apartments and a detached two-car garage, built in 1941.
Where is this triplex located?
The property is located at 2422-2426 East Main Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $740,000.
What are key features of this property?
This property features: Legal three‑family triplex with three two‑bedroom apartments; Detached two‑car garage; Built in 1941
