Three-Unit Residential Income
For Sale
$739,900
Pending
278 Federal Street, Bridgeport, CT 06606
Well-maintained three-unit home with updated roof, vinyl siding, thermopane windows, and hardwood floors.
Property Size1,909 SF
Days on Market69
Property Features for 278 Federal Street
General Information
Standard status
Pending
Size
1,909 SF
Property subtype
3 Family
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Building Size
1,909 SF
Year Built
1909
Listing Agency:
RE/MAX Right Choice
Listed By:
Basil Amso · License #RES.0777456
(203) 209-3818
Source:
Iverty
Added: Jul 1
Changed: Aug 31
Last Checked: Aug 29 at 9:33AM
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 RE/MAX Right Choice
Investment Insights
Based on property information with market context.
This well-maintained three-unit residential income property offers large apartments with modern kitchens and modern tiled bathrooms. The home features hardwood floors throughout and gas heat. Exterior improvements include a newer roof, maintenance-free vinyl siding, and thermopane windows. A private yard and ample off-street parking support everyday convenience.
Located in Bridgeport’s North End neighborhood, the property is described as being just minutes from train service, shopping, and major highways.
The layout is suited to multiple tenants within a single building, and the property is presented as being in great shape with noted value-add potential tied to bringing rents up to market rate.
Located in Bridgeport’s North End neighborhood, the property is described as being just minutes from train service, shopping, and major highways.
The layout is suited to multiple tenants within a single building, and the property is presented as being in great shape with noted value-add potential tied to bringing rents up to market rate.
Key Highlights
- Well‑maintained 3‑unit home built in 1909 with updated roof
- Maintenance‑free vinyl siding and thermopane windows
- Hardwood floors throughout and gas heat
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
$42,402
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
5.73%
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%
$848,040
$848.0K
Cap Rate 7%
$605,743
$605.7K
Cap Rate 9%
$471,133
$471.1K
Market Conditions
NOI Build-Up for 3,272 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
$64.8K $19.80/SF
− Vacancy
−$4.2K −$1.29/SF
EGI
$60.6K $18.51/SF
− OpEx
−$18.2K −$5.55/SF
NOI
$42.4K $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%
$848,040
Cap Rate 7%
$605,743
Cap Rate 9%
$471,133
Alternative Uses
Best Use
Multifamily LT 5
$605.7K
$530.0K – $706.7K
NOI $42,402 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$549.8K
$481.1K – $641.5K
NOI $38,488 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$933.9K
$817.2K – $1.09M
NOI $65,373 @ 7.0% cap · market cap 8.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,855
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-unit home with updated roof, vinyl siding, thermopane windows, and hardwood floors.
Where is this triplex located?
The property is located at 278 Federal Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: Well‑maintained 3‑unit home built in 1909 with updated roof; Maintenance‑free vinyl siding and thermopane windows; Hardwood floors throughout and gas heat
