Two-Unit Home with Finished
For Sale
$575,000
274 Park Street, Bridgeport, CT 06608
Residential income property with separate living spaces, private outdoor area, garage parking, and access to transit and shopping.
Property Size3,097 SF
Price / SF$185.66
Days on Market235
Property Features for 274 Park Street
General Information
Standard status
Active
Size
3,097 SF
Property subtype
Multi-Family / 2 Family
Zoning
RC
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,265
Amenities
finished insulated basement
garage
private driveway
private backyard
Yes
Baseboard
10
Window Unit
Storage Space, Access Via Hatch
All Units Have Hook-Ups
Not Applicable
Building Details
Year Built
1887
Buildings
1
Listing Agency:
Century 21 Scala Group
(203) 374-9451
Listed By:
Valeria Amarante · License #RES.0804053
(203) 374-9451
Source:
Compass
Added: Jan 8
Changed: Aug 30
Last Checked: Aug 30 at 6:08PM
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 Century 21 Scala Group
Investment Insights
Based on property information with market context.
This duplex contains 3,097 square feet and was built in 1887. Each residence includes two bedrooms, an eat-in kitchen, a living room, and a bathroom. A finished, insulated basement adds flexible storage or activity space, while the property also provides a two-car garage, private driveway parking, and a backyard. Unit hook-ups are available, and the interior includes baseboard heat, window units, and hatch-access storage. The roof was replaced approximately 8 years ago.
The property is located near public transportation, major highways, local schools, and shopping centers. RC zoning supports the established two-unit configuration. The layout offers an owner-occupant the option to live in one unit while leasing the other, as described in the property information.
The property is located near public transportation, major highways, local schools, and shopping centers. RC zoning supports the established two-unit configuration. The layout offers an owner-occupant the option to live in one unit while leasing the other, as described in the property information.
Key Highlights
- Two‑unit property with 3,097 SF and two bedrooms in each unit
- Each unit includes an eat‑in kitchen, living room, and bathroom
- Finished insulated basement provides additional usable space
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
$40,134
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
6.98%
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%
$802,680
$802.7K
Cap Rate 7%
$573,343
$573.3K
Cap Rate 9%
$445,933
$445.9K
Market Conditions
NOI Build-Up for 3,097 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
$61.3K $19.80/SF
− Vacancy
−$4.0K −$1.29/SF
EGI
$57.3K $18.51/SF
− OpEx
−$17.2K −$5.55/SF
NOI
$40.1K $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%
$802,680
Cap Rate 7%
$573,343
Cap Rate 9%
$445,933
Alternative Uses
Best Use
Multifamily LT 5
$573.3K
$501.7K – $668.9K
NOI $40,134 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$520.4K
$455.4K – $607.2K
NOI $36,429 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$884.0K
$773.5K – $1.03M
NOI $61,877 @ 7.0% cap · market cap 10.76%
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
1,342
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
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 - Residential income property with separate living spaces, private outdoor area, garage parking, and access to transit and shopping.
Where is this duplex located?
The property is located at 274 Park Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑unit property with 3,097 SF and two bedrooms in each unit; Each unit includes an eat‑in kitchen, living room, and bathroom; Finished insulated basement provides additional usable space
