Two-Family Home with Development
319 Carroll Ave, Bridgeport, CT 06607
For Sale
$589,000
Updated two-family home paired with a city-approved buildable parcel and plans for future multifamily development.
Property Size2,302 SF
Price / SF$255.86
Days on Market160
Property Features for 319 Carroll Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
Century 21 Scala Group
Listed By:
Sara Barnaba
(203) 243-7648
Source:
Themialeteam
Added: Jun 2
Changed: Oct 25
Last Checked: Oct 7 at 2:43PM
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 Century 21 Scala Group
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Investment Insights
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This rare package deal includes a spacious two-family home and a city-approved buildable parcel sold together. The home features updated kitchens, a finished attic, and a roomy layout designed to support strong residential income while maintaining flexibility for the next stage of growth. With the included parcel comes a survey and approved plans already in place, providing a clear path toward future multifamily development.
The property is offered at 319 Carroll Avenue, Bridgeport, CT 06607. Because the parcel is approved for future multi-family use, the acquisition offers both immediate ownership value and a head start on development planning.
For owner-occupants, this setup can allow you to live in the home while benefiting from rental income from the second unit. Investors may be drawn to the combination of existing income potential and expansion upside through the adjacent development plans. Developers and value-add operators will appreciate that the groundwork is already documented with a survey and city-approved plans, reducing early-cycle uncertainty and enabling a more straightforward progression from acquisition to future buildout.
The property is offered at 319 Carroll Avenue, Bridgeport, CT 06607. Because the parcel is approved for future multi-family use, the acquisition offers both immediate ownership value and a head start on development planning.
For owner-occupants, this setup can allow you to live in the home while benefiting from rental income from the second unit. Investors may be drawn to the combination of existing income potential and expansion upside through the adjacent development plans. Developers and value-add operators will appreciate that the groundwork is already documented with a survey and city-approved plans, reducing early-cycle uncertainty and enabling a more straightforward progression from acquisition to future buildout.
Key Highlights
- 1892‑built updated two‑family home with updated kitchens and a spacious layout
- Sold together with a city‑approved buildable parcel
- Parcel includes a survey and approved plans for future multifamily development
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,832
Cap Rate
5.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$596,640
$596.6K
Cap Rate 7%
$426,171
$426.2K
Cap Rate 9%
$331,467
$331.5K
Market Conditions
NOI Build-Up for 2,302 SF
Gross rent
$45.6K $19.80/SF
− Vacancy
−$3.0K −$1.29/SF
EGI
$42.6K $18.51/SF
− OpEx
−$12.8K −$5.55/SF
NOI
$29.8K $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 Rate 5%
$596,640
Cap Rate 7%
$426,171
Cap Rate 9%
$331,467
Alternative Uses
Best Use
Multifamily LT 5
$426.2K
$372.9K – $497.2K
NOI $29,832 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$386.8K
$338.5K – $451.3K
NOI $27,078 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$657.0K
$574.9K – $766.6K
NOI $45,993 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
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Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Bridgeport, CT
Properties on Market for Duplexes in Bridgeport
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family home paired with a city-approved buildable parcel and plans for future multifamily development.
Where is this duplex located?
The property is located at 319 Carroll Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: 1892‑built updated two‑family home with updated kitchens and a spacious layout; Sold together with a city‑approved buildable parcel; Parcel includes a survey and approved plans for future multifamily development
