Remodeled Two-Family
For Sale
$549,900
Pending
246 Judson Place, Bridgeport, CT 06610
Two residences offer updated kitchens, bathrooms, laundry, and central air in a flexible multifamily configuration.
Property Size2,093 SF
Days on Market220
Property Features for 246 Judson Place
General Information
Standard status
Pending
Size
2,093 SF
Property subtype
Multi-Family / 2 Family
Zoning
RB
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$7,523
Amenities
in-unit laundry
two-tier deck
central air
Yes
Hot Water
10
Central Air
Access Via Hatch
Not Applicable
Building Details
Year Built
1921
Buildings
1
Listing Agency:
Social & Co Realty
(203) 484-8061
Listed By:
Tyler Amann · License #RES.0828289
(203) 484-8061
Source:
Compass
Added: Jan 23
Changed: Aug 30
Last Checked: Aug 30 at 11:04PM
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 Social & Co Realty
Investment Insights
Based on property information with market context.
This 2,093-square-foot duplex at 246 Judson Place contains two three-bedroom, one-bathroom residences. Both units include in-unit laundry, renovated kitchens with stainless steel appliance packages, updated bathrooms, central air, and gas furnaces. Building improvements include a new roof, siding, plumbing, electrical systems, and HVAC equipment. The property was built in 1921 and is zoned RB.
Outdoor space includes a two-tier deck with views. The location provides access to shopping, restaurants, major highways, and Bridgeport Hospital, all within minutes. The combination of two separate residences, refreshed interiors, and substantial building-system updates supports both multifamily ownership and owner occupancy.
Outdoor space includes a two-tier deck with views. The location provides access to shopping, restaurants, major highways, and Bridgeport Hospital, all within minutes. The combination of two separate residences, refreshed interiors, and substantial building-system updates supports both multifamily ownership and owner occupancy.
Key Highlights
- 2,093 SF duplex with two three‑bedroom, one‑bathroom units
- Both residences include in‑unit laundry, central air, and gas furnaces
- Renovated kitchens feature stainless steel appliance packages
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
$27,123
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
4.93%
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%
$542,460
$542.5K
Cap Rate 7%
$387,471
$387.5K
Cap Rate 9%
$301,367
$301.4K
Market Conditions
NOI Build-Up for 2,093 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
$41.4K $19.80/SF
− Vacancy
−$2.7K −$1.29/SF
EGI
$38.7K $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%
$542,460
Cap Rate 7%
$387,471
Cap Rate 9%
$301,367
Alternative Uses
Best Use
Multifamily LT 5
$387.5K
$339.0K – $452.1K
NOI $27,123 @ 7.0% cap · market cap 4.93%
Second Best
Apartment 5plus
$351.7K
$307.8K – $410.3K
NOI $24,620 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$597.4K
$522.7K – $697.0K
NOI $41,817 @ 7.0% cap · market cap 7.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,580
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?
Duplex - Two residences offer updated kitchens, bathrooms, laundry, and central air in a flexible multifamily configuration.
Where is this duplex located?
The property is located at 246 Judson Place Bridgeport, CT.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,093 SF duplex with two three‑bedroom, one‑bathroom units; Both residences include in‑unit laundry, central air, and gas furnaces; Renovated kitchens feature stainless steel appliance packages
