Four-Unit Property with Updated
For Sale
$874,900
Pending
34 Hayes Street, Bridgeport, CT 06608
Fully occupied income property with updated electrical service, newer water heaters, and basement laundry hookups.
Property Size5,080 SF
Days on Market208
Property Features for 34 Hayes Street
General Information
Standard status
Pending
Size
5,080 SF
Property subtype
Multi-Family / 4 Family
Zoning
RC
Occupancy
100%
Units
Unit Mix
4 x 3BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$10,596
Amenities
paved backyard
laundry hookups
No
Hot Air
24
Beach Rights
Building Details
Year Built
1917
Listing Agency:
Century 21 Scala Group
(203) 395-0715
Listed By:
Katiria Chiluisa · License #RES.0766589
(203) 395-0715
Source:
Compass
Added: Feb 4
Changed: Aug 29
Last Checked: Aug 31 at 1:56AM
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
Investment Insights
Based on property information with market context.
This 5,080 SF quadplex, built in 1917, contains four residential units. Each unit offers three bedrooms, a living room, an eat-in kitchen, and a full bathroom. The property is fully occupied by long-term tenants and is zoned RC.
Recent property improvements include a newer roof, updated electrical service with an owner’s panel, and newer water heaters. Two large basements provide laundry hookups and access to mechanical systems. Outside, the paved backyard offers usable space for gatherings, and beach rights are included.
Recent property improvements include a newer roof, updated electrical service with an owner’s panel, and newer water heaters. Two large basements provide laundry hookups and access to mechanical systems. Outside, the paved backyard offers usable space for gatherings, and beach rights are included.
Key Highlights
- 5,080 SF quadplex with four residential units
- Each unit includes 3 bedrooms, 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
Lease Details
4
Residential units
100%
Occupancy
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 income property with updated electrical service, newer water heaters, and basement laundry hookups.
Where is this quadplex located?
The property is located at 34 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: 5,080 SF quadplex with four residential units; Each unit includes 3 bedrooms, living room, eat‑in kitchen, and full bathroom; Fully occupied by long‑term tenants
