Renovated Four-Unit Apartment
For Sale
$875,000
301 Poplar Street, Bridgeport, CT 06605
Renovated four-unit multifamily property in Bridgeport, Connecticut, offered for sale as a residential income building.
Property Size3,360 SF
Price / SF$260.42
Days on Market67
Property Features for 301 Poplar Street
General Information
Standard status
Active
Size
3,360 SF
Property subtype
4 Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Baldwin Pearson & Co., Inc
Listed By:
Daniel Shawah · License #RES.0829215
(203) 521-6348
Source:
Lockandkeyre
Added: Jun 29
Changed: Sep 3
Last Checked: Sep 2 at 4:55PM
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 Baldwin Pearson & Co., Inc
Investment Insights
Based on property information with market context.
Baldwin Pearson & Co., Inc. is pleased to exclusively present 301 Poplar St, Bridgeport, Connecticut, a renovated four-unit apartment building. The property offers a multifamily income configuration with updated condition, designed for ongoing rental use.
The building is located in Bridgeport’s established West Side neighborhood and is described as only a few blocks from Fairfield. It also benefits from convenient access to major transportation routes, employment centers, retail amenities, and public transit.
As a four-unit residential income property, this asset is positioned for long-term occupancy based on its in-place rental setup and neighborhood context.
The building is located in Bridgeport’s established West Side neighborhood and is described as only a few blocks from Fairfield. It also benefits from convenient access to major transportation routes, employment centers, retail amenities, and public transit.
As a four-unit residential income property, this asset is positioned for long-term occupancy based on its in-place rental setup and neighborhood context.
Key Highlights
- Renovated four‑unit apartment building in Bridgeport, CT
- Year built: 1900
- Residential income building with four rental units
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
$43,543
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
4.98%
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%
$870,860
$870.9K
Cap Rate 7%
$622,043
$622.0K
Cap Rate 9%
$483,811
$483.8K
Market Conditions
NOI Build-Up for 3,360 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
$66.5K $19.80/SF
− Vacancy
−$4.3K −$1.29/SF
EGI
$62.2K $18.51/SF
− OpEx
−$18.7K −$5.55/SF
NOI
$43.5K $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%
$870,860
Cap Rate 7%
$622,043
Cap Rate 9%
$483,811
Alternative Uses
Best Use
Multifamily LT 5
$622.0K
$544.3K – $725.7K
NOI $43,543 @ 7.0% cap · market cap 4.98%
Second Best
Apartment 5plus
$564.6K
$494.0K – $658.7K
NOI $39,523 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$959.0K
$839.1K – $1.12M
NOI $67,131 @ 7.0% cap · market cap 7.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,090
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?
Quadplex - Renovated four-unit multifamily property in Bridgeport, Connecticut, offered for sale as a residential income building.
Where is this quadplex located?
The property is located at 301 Poplar Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Renovated four‑unit apartment building in Bridgeport, CT; Year built: 1900; Residential income building with four rental units
