Duplex Multifamily
For Sale
$525,000
297 Laurel Avenue, Bridgeport, CT 06605
Two-unit residential income property with four bedrooms and access to shopping, restaurants, transit, and major highways.
Property Size2,523 SF
Price / SF$208.09
Days on Market12
Property Features for 297 Laurel Avenue
General Information
Standard status
Active
Size
2,523 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1897
Listing Agency:
Maple Vale Realty LLC
(203) 572-6180
Listed By:
Omar Ruizesparza · License #452508574
(203) 572-6180
Source:
Lockandkeyre
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 5:41PM
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 Maple Vale Realty LLC
Investment Insights
Based on property information with market context.
This duplex multifamily property at 297 Laurel Avenue contains approximately 2,523 square feet of living space, with four bedrooms and two bathrooms. Built in 1897, the two-unit configuration supports residential income use and offers an owner-occupant the ability to reside in one unit while leasing the other, as explicitly supported by the property information.
The property is in Bridgeport, CT, near shopping, restaurants, public transportation, and major highways. Its location provides access to everyday services and regional transportation connections while maintaining a residential setting.
The property is in Bridgeport, CT, near shopping, restaurants, public transportation, and major highways. Its location provides access to everyday services and regional transportation connections while maintaining a residential setting.
Key Highlights
- Two‑unit duplex configuration
- Approximately 2,523 square feet of living space
- Four bedrooms and two bathrooms
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
$32,696
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
6.23%
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%
$653,920
$653.9K
Cap Rate 7%
$467,086
$467.1K
Cap Rate 9%
$363,289
$363.3K
Market Conditions
NOI Build-Up for 2,523 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
$50.0K $19.80/SF
− Vacancy
−$3.2K −$1.29/SF
EGI
$46.7K $18.51/SF
− OpEx
−$14.0K −$5.55/SF
NOI
$32.7K $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%
$653,920
Cap Rate 7%
$467,086
Cap Rate 9%
$363,289
Alternative Uses
Best Use
Multifamily LT 5
$467.1K
$408.7K – $544.9K
NOI $32,696 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$424.0K
$371.0K – $494.6K
NOI $29,678 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$720.1K
$630.1K – $840.1K
NOI $50,408 @ 7.0% cap · market cap 9.60%
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
1,478
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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?
Duplex - Two-unit residential income property with four bedrooms and access to shopping, restaurants, transit, and major highways.
Where is this duplex located?
The property is located at 297 Laurel Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; Approximately 2,523 square feet of living space; Four bedrooms and two bathrooms
