Two-Unit Duplex with Two-Car
For Sale
$519,900
35-37 Omega Avenue, Bridgeport, CT 06606
Updated eat-in kitchens serve both residential units.
Property Size1,632 SF
Price / SF$318.57
Days on Market10
Property Features for 35-37 Omega Avenue
General Information
Standard status
Active
Size
1,632 SF
Property subtype
2 Family
Building Details
Year Built
1952
Listing Agency:
Century 21 AllPoints Realty
(203) 923-7848
Listed By:
Maureen McLarin
(203) 923-7848
Source:
Lockandkeyre
Added: Aug 22
Changed: Aug 29
Last Checked: Aug 30 at 5:52PM
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 AllPoints Realty
Investment Insights
Based on property information with market context.
The duplex at 35-37 Omega Avenue contains two residential units, each arranged with two bedrooms, one full bathroom, and an updated eat-in kitchen. The property was constructed in 1952 and offers a practical configuration for multifamily ownership or occupancy in one unit while leasing the other.
The building sits on a large, level, fenced lot with outdoor space, a private driveway, and a two-car garage. These improvements provide dedicated parking and useful storage or vehicle accommodation for the property.
The building sits on a large, level, fenced lot with outdoor space, a private driveway, and a two-car garage. These improvements provide dedicated parking and useful storage or vehicle accommodation for the property.
Key Highlights
- Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit
- Updated eat‑in kitchens in both units
- Large, level, fenced lot
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
$21,149
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
4.07%
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%
$422,980
$423.0K
Cap Rate 7%
$302,129
$302.1K
Cap Rate 9%
$234,989
$235.0K
Market Conditions
NOI Build-Up for 1,632 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
$32.3K $19.80/SF
− Vacancy
−$2.1K −$1.29/SF
EGI
$30.2K $18.51/SF
− OpEx
−$9.1K −$5.55/SF
NOI
$21.1K $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%
$422,980
Cap Rate 7%
$302,129
Cap Rate 9%
$234,989
Alternative Uses
Best Use
Multifamily LT 5
$302.1K
$264.4K – $352.5K
NOI $21,149 @ 7.0% cap · market cap 4.07%
Second Best
Apartment 5plus
$274.2K
$240.0K – $320.0K
NOI $19,197 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$465.8K
$407.6K – $543.5K
NOI $32,607 @ 7.0% cap · market cap 6.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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?
Duplex - Updated eat-in kitchens serve both residential units.
Where is this duplex located?
The property is located at 35-37 Omega Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms and 1 full bathroom in each unit; Updated eat‑in kitchens in both units; Large, level, fenced lot
