Building Details

Year Built 1955

Listing Agency: William Raveis Real Estate t***@raveis.com Show Phone

Listed By: Kaitlyn Walsh · License #RES.0797747 Show Phone

Source: Lockandkeyre

Added: Sep 16 Changed: Oct 15 Last Checked: Oct 15 at 12:14AM

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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

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Investment Insights

Based on property information with market context.

Built in 1955, this 3,234-square-foot duplex spans three finished levels and has undergone extensive updates, including flooring, cabinetry, countertops, appliances, bathroom fixtures, recessed lighting, sheetrock, trim, HVAC, and electrical work. The first-floor apartment is ready for occupancy and features an open layout, leathered granite countertops, a vessel sink, custom storage, and central air.

Exterior improvements include low-maintenance crushed-stone landscaping with mature perennial and evergreen plantings. A detached two-car garage provides options for parking or storage and may support additional income. The property is within walking distance of shopping, restaurants, live music, Fairfield Metro train station, and the St. Mary’s By the Sea waterfront.

Key Highlights

• Two‑family property with three finished levels
• 3,234 square feet; built in 1955
• Extensive updates to kitchens, baths, flooring, HVAC, electrical, and finishes

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,910

Cap Rate

5.83%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$838,200 $838.2K

Cap Rate 7%

$598,714 $598.7K

Cap Rate 9%

$465,667 $465.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,234 SF

Gross rent

$64.0K $19.80/SF

− Vacancy

−$4.2K −$1.29/SF

EGI

$59.9K $18.51/SF

− OpEx

−$18.0K −$5.55/SF

NOI

$41.9K $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 Rate 5%

$838,200

Cap Rate 7%

$598,714

Cap Rate 9%

$465,667

Alternative Uses

Best Use

Multifamily LT 5

$598.7K

$523.9K – $698.5K (±1% cap)

NOI $41,910 @ 7.0% cap · market cap 5.83%

Second Best

Apartment 5plus

$543.4K

$475.5K – $634.0K (±1% cap)

NOI $38,041 @ 7.0% cap · market cap 5.29%

Theoretical Best

Office A

$923.1K

$807.7K – $1.08M (±1% cap)

NOI $64,614 @ 7.0% cap · market cap 8.99%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Locksmith (Bike/Boat/Book/etc) Store Cafe & Coffee Shop Grocery & Convenience Store Florist

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,298

Businesses Nearby

Explore this area Business Placement

Demographics for 06605, CT

23,867

Population

10,799

Households

2.2

Avg Household Size

35

Median Age

33%

College-Educated

80%

High-School Grad

2.3 sq mi

ZIP Area

10,377

Density / Sq Mi

$59,673

Median Household Income

$40,276

Median Earnings

$1,423

Median Rent

$273,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Three finished levels, refreshed interiors, and a detached garage support flexible residential use in Bridgeport’s Black Rock area.

Where is this duplex located?

The property is located at 244 Bennett Bridgeport, CT.

What is the asking price?

The asking price for this property is $719,000.

What are key features of this property?

This property features: Two‑family property with three finished levels; 3,234 square feet; built in 1955; Extensive updates to kitchens, baths, flooring, HVAC, electrical, and finishes