Duplex with Finished
For Sale
$469,999
318 Center Street, Bridgeport, CT 06604
Updated two-unit property with finished basement rooms, refreshed porches, and residential zoning.
Property Size1,700 SF
Price / SF$276.47
Days on Market194
Property Features for 318 Center Street
General Information
Standard status
Active
Size
1,700 SF
Property subtype
Multi-Family / 2 Family
Zoning
RC
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,449
Amenities
No
Hot Water
12
Not Applicable
Building Details
Year Built
1925
Buildings
1
Listing Agency:
eXp Realty
(860) 929-6789
Listed By:
Jaiden Vernale · License #RES.0825140
(860) 929-6789
Source:
Compass
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 1:56PM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 318 Center Street in Bridgeport, this 1925 two-family property contains approximately 1,700 square feet of property area and includes two residential units. The first-floor unit has new flooring and updated interiors, while the second-floor unit includes new flooring, a renovated bathroom, fresh paint, and a new refrigerator. Both units have front and rear porches, and the rear staircase has been rebuilt.
The basement adds two finished rooms to the property. Additional features include gas heating, hot water, and a roof relayer completed in 2024. The property is zoned RC and has been consistently maintained, with refreshed exterior porch areas supporting continued residential use.
The basement adds two finished rooms to the property. Additional features include gas heating, hot water, and a roof relayer completed in 2024. The property is zoned RC and has been consistently maintained, with refreshed exterior porch areas supporting continued residential use.
Key Highlights
- Two‑family duplex with approximately 1,700 square feet
- Two finished basement rooms add usable living space
- Second‑floor unit has renovated bathroom, fresh paint, and new refrigerator
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
$22,030
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
4.69%
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%
$440,600
$440.6K
Cap Rate 7%
$314,714
$314.7K
Cap Rate 9%
$244,778
$244.8K
Market Conditions
NOI Build-Up for 1,700 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
$33.7K $19.80/SF
− Vacancy
−$2.2K −$1.29/SF
EGI
$31.5K $18.51/SF
− OpEx
−$9.4K −$5.55/SF
NOI
$22.0K $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%
$440,600
Cap Rate 7%
$314,714
Cap Rate 9%
$244,778
Alternative Uses
Best Use
Multifamily LT 5
$314.7K
$275.4K – $367.2K
NOI $22,030 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $19,997 @ 7.0% cap · market cap 4.25%
Theoretical Best
Office A
$485.2K
$424.6K – $566.1K
NOI $33,965 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,761
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit property with finished basement rooms, refreshed porches, and residential zoning.
Where is this duplex located?
The property is located at 318 Center Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $469,999.
What are key features of this property?
This property features: Two‑family duplex with approximately 1,700 square feet; Two finished basement rooms add usable living space; Second‑floor unit has renovated bathroom, fresh paint, and new refrigerator
