Triplex with Hardwood
For Sale
Under Contract
$739,900
278 Federal Street, Bridgeport, CT 06606
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size3,272 SF
Lot Size0.09 Acres
Price / SF$226.13
Days on Market59
Property Features for 278 Federal Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 8, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 7, Basement, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 9
Basement
Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Madison or Main to Federal
Subdivision
North End
Standard status
Active Under Contract
Size
3,272 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8633
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
private yard
Building Details
Year built
1909
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 268-1118
Listed By:
Basil Amso · License #RES.0777456
(203) 209-3818
Added: Jul 2
Changed: Aug 28
Last Checked: Aug 29 at 3:06AM
MLS# 24188502
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit residential property contains 3,272 square feet across units arranged on separate floors. The building dates to 1909 and includes nine bedrooms, three bathrooms, hardwood flooring, modern kitchens, and tiled bathrooms. Exterior features include vinyl siding, thermopane windows, and a newer roof. Gas heat serves the property, with a private yard and off-street parking adding to the site improvements.
The 0.09-acre parcel is located in Bridgeport’s North End, with convenient access to train service, shopping, and major highways. Public water and public sewer serve the property, and the zoning is RC.
The configuration provides three residential units within a multifamily building, with basement space included among the listed rooms.
The 0.09-acre parcel is located in Bridgeport’s North End, with convenient access to train service, shopping, and major highways. Public water and public sewer serve the property, and the zoning is RC.
The configuration provides three residential units within a multifamily building, with basement space included among the listed rooms.
Key Highlights
- 3,272‑square‑foot triplex with three residential units on separate floors
- Nine bedrooms and three bathrooms across the property
- Modern kitchens, tiled bathrooms, and hardwood floors throughout
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer updated kitchens, tiled baths, gas heat, and private outdoor space.
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: 3,272‑square‑foot triplex with three residential units on separate floors; Nine bedrooms and three bathrooms across the property; Modern kitchens, tiled bathrooms, and hardwood floors throughout
