Quadplex with Updated
For Sale
$874,900
Pending
34-40 Hayes Street, Bridgeport, CT 06608
Fully occupied property includes two large basements, laundry hookups, and a paved backyard.
Property Size5,080 SF
Days on Market208
Property Features for 34-40 Hayes Street
General Information
Standard status
Pending
Size
5,080 SF
Property subtype
Multi-Family / 4 Family
Zoning
RC
Taxes and HOA fees
Annual Taxes
$10,596
Amenities
No
Hot Air
24
Beach Rights
Building Details
Year Built
1917
Listing Agency:
Re/Max Right Choice
(203) 395-0715
Listed By:
Katiria Chiluisa · License #RES.0766589
(203) 395-0715
Source:
Compass
Added: Feb 4
Changed: Aug 30
Last Checked: Aug 30 at 1:11PM
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 Re/Max Right Choice
Investment Insights
Based on property information with market context.
This 5,080-square-foot quadplex contains four residential units, each configured with three bedrooms, a living room, an eat-in kitchen, and a full bathroom. The property dates to 1917 and includes two large basements with laundry hookups and direct access to the mechanical systems. Interior features include hot-air heating, while the building has an updated electrical system with an owner’s panel and newer water heaters.
All four units are currently occupied by long-term tenants. Exterior amenities include a paved backyard with space for gatherings and beach rights. The property is located at 34-40 Hayes Street in Bridgeport, Connecticut, and is zoned RC.
All four units are currently occupied by long-term tenants. Exterior amenities include a paved backyard with space for gatherings and beach rights. The property is located at 34-40 Hayes Street in Bridgeport, Connecticut, and is zoned RC.
Key Highlights
- Four‑unit property totaling 5,080 square feet
- Each unit includes 3 bedrooms, a living room, eat‑in kitchen, and full bathroom
- Fully occupied by long‑term tenants
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
$65,832
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
7.52%
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%
$1,316,640
$1.3M
Cap Rate 7%
$940,457
$940.5K
Cap Rate 9%
$731,467
$731.5K
Market Conditions
NOI Build-Up for 5,080 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
$100.6K $19.80/SF
− Vacancy
−$6.5K −$1.29/SF
EGI
$94.0K $18.51/SF
− OpEx
−$28.2K −$5.55/SF
NOI
$65.8K $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 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%
$1,316,640
Cap Rate 7%
$940,457
Cap Rate 9%
$731,467
Alternative Uses
Best Use
Multifamily LT 5
$940.5K
$822.9K – $1.10M
NOI $65,832 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$853.6K
$746.9K – $995.9K
NOI $59,755 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,496 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,698
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
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 - Fully occupied property includes two large basements, laundry hookups, and a paved backyard.
Where is this quadplex located?
The property is located at 34-40 Hayes Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $874,900.
What are key features of this property?
This property features: Four‑unit property totaling 5,080 square feet; Each unit includes 3 bedrooms, a living room, eat‑in kitchen, and full bathroom; Fully occupied by long‑term tenants
