Two-Family Home with Level
For Sale
$419,900
Pending
289 Pearl Harbor St, Bridgeport, CT 06610
Two separate residences offer eat-in kitchens, living areas, and flexible room arrangements on a spacious lot.
Property Size2,358 SF
Days on Market127
Property Features for 289 Pearl Harbor St
General Information
Standard status
Pending
Size
2,358 SF
Property subtype
Multi Family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
2,358 SF
Year Built
1942
Listing Agency:
(203) 543-8020
Listed By:
Tenisha L. Minfield
(203) 543-8020
Source:
Elliman
Added: Apr 27
Changed: Aug 29
Last Checked: Aug 30 at 10:09PM
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 Tenisha L. Minfield
Investment Insights
Based on property information with market context.
This duplex at 289 Pearl Harbor St comprises 2,358 square feet of living space across two distinct residential units. Each residence includes an eat-in kitchen and a separate living area, with room configurations that support independent household use. The property was built in 1942 and is being offered in as-is condition, with cosmetic improvements identified as a path for updating the interiors.
The home occupies a large, level lot with additional outdoor space. Current occupancy reflects family use, and the seller is open to considering delivery of the property unoccupied at closing. Walk Score is 55, BikeScore is 51, and TransitScore is 34, providing measurable context for access and mobility around the property.
The home occupies a large, level lot with additional outdoor space. Current occupancy reflects family use, and the seller is open to considering delivery of the property unoccupied at closing. Walk Score is 55, BikeScore is 51, and TransitScore is 34, providing measurable context for access and mobility around the property.
Key Highlights
- Duplex with 2,358 square feet of living space
- Two distinct units with separate living areas
- Eat‑in kitchens in both residences
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
$30,558
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
7.28%
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%
$611,160
$611.2K
Cap Rate 7%
$436,543
$436.5K
Cap Rate 9%
$339,533
$339.5K
Market Conditions
NOI Build-Up for 2,358 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
$46.7K $19.80/SF
− Vacancy
−$3.0K −$1.29/SF
EGI
$43.7K $18.51/SF
− OpEx
−$13.1K −$5.55/SF
NOI
$30.6K $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%
$611,160
Cap Rate 7%
$436,543
Cap Rate 9%
$339,533
Alternative Uses
Best Use
Multifamily LT 5
$436.5K
$382.0K – $509.3K
NOI $30,558 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$396.2K
$346.7K – $462.3K
NOI $27,737 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$673.0K
$588.9K – $785.2K
NOI $47,112 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
365
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 separate residences offer eat-in kitchens, living areas, and flexible room arrangements on a spacious lot.
Where is this duplex located?
The property is located at 289 Pearl Harbor St Bridgeport, CT.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Duplex with 2,358 square feet of living space; Two distinct units with separate living areas; Eat‑in kitchens in both residences
