Multifamily Property with Separate
For Sale
$695,000
Pending
283 Salem, Bridgeport, CT 06606
Income property with units arranged on different floors, full basement, and forced-air heating.
Property Size3,559 SF
Days on Market106
Property Features for 283 Salem
General Information
Standard status
Pending
Size
3,559 SF
Property subtype
2 Family
Building Details
Year Built
1933
Listing Agency:
Mark Tavares Realty, LLC
(203) 720-7172
Listed By:
Jason Piccirillo · License #RES.0828552
(203) 872-7170
Source:
Lockandkeyre
Added: Jul 2
Changed: Oct 13
Last Checked: Oct 12 at 6:56PM
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 Mark Tavares Realty, LLC
Investment Insights
Based on property information with market context.
This multifamily property at 283 Salem Street in Bridgeport, Connecticut, contains 3,559 square feet and was built in 1933. The units are arranged on separate floors, creating a vertically distributed residential configuration. Interior features include a full basement, oil-fired forced-air heating, and an electric water heater.
The property is located in Fairfield County, with access from Main Street to Salem Street. Zoning is RB, and the asset is offered for sale.
The property is located in Fairfield County, with access from Main Street to Salem Street. Zoning is RB, and the asset is offered for sale.
Key Highlights
- 3,559‑square‑foot multifamily property
- Units arranged on different floors
- Built in 1933
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,864
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,280
$837.3K
Cap Rate 7%
$598,057
$598.1K
Cap Rate 9%
$465,156
$465.2K
Market Conditions
NOI Build-Up for 3,559 SF
Gross rent
$80.3K $22.56/SF
− Vacancy
−$4.2K −$1.17/SF
EGI
$76.1K $21.39/SF
− OpEx
−$34.3K −$9.62/SF
NOI
$41.9K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$837,280
Cap Rate 7%
$598,057
Cap Rate 9%
$465,156
Alternative Uses
Best Use
Apartment 5plus
$598.1K
$523.3K – $697.7K
NOI $41,864 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$888.8K – $1.19M
NOI $71,107 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,664
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Residential income property - Income property with units arranged on different floors, full basement, and forced-air heating.
Where is this residential income property located?
The property is located at 283 Salem Bridgeport, CT.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: 3,559‑square‑foot multifamily property; Units arranged on different floors; Built in 1933
