Building Details

Building Size 2,436 SF

Year Built 1911

Listing Agency: RE/MAX Right Choice

Listed By: JD Defrancisco Show Phone

Source: Higginsgroup

Added: Aug 30 Changed: Oct 9 Last Checked: Oct 15 at 6:31AM

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Investment Insights

Based on property information with market context.

Built in 1911, this legal two-family property contains two separate units, each with two bedrooms and one bathroom. Both units are being offered vacant. The building also includes a finished attic, gas heat, and a basement with storage and utility space. The property is being sold as-is.

The home is located in Bridgeport’s Black Rock area, with Fairfield Metro approximately two minutes away. Fairfield Avenue, restaurants, bars, shops, parks, and transportation are identified as nearby neighborhood amenities, providing access to the area’s established commercial and transit setting.

Key Highlights

• Legal two‑family property with two separate living units
• Two 2‑bedroom, 1‑bath units
• Offered vacant and sold as‑is

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,568

Cap Rate

5.26%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$631,360 $631.4K

Cap Rate 7%

$450,971 $451.0K

Cap Rate 9%

$350,756 $350.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,436 SF

Gross rent

$48.2K $19.80/SF

− Vacancy

−$3.1K −$1.29/SF

EGI

$45.1K $18.51/SF

− OpEx

−$13.5K −$5.55/SF

NOI

$31.6K $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%

$631,360

Cap Rate 7%

$450,971

Cap Rate 9%

$350,756

Alternative Uses

Best Use

Multifamily LT 5

$451.0K

$394.6K – $526.1K (±1% cap)

NOI $31,568 @ 7.0% cap · market cap 5.26%

Second Best

Apartment 5plus

$409.3K

$358.2K – $477.6K (±1% cap)

NOI $28,654 @ 7.0% cap · market cap 4.78%

Theoretical Best

Office A

$695.3K

$608.4K – $811.2K (±1% cap)

NOI $48,670 @ 7.0% cap · market cap 8.11%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Pharmacy Grocery & Convenience Store Florist Furniture & Home Goods

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

1,288

Businesses Nearby

Explore this area Business Placement

Demographics for 06605, CT

23,867

Population

10,799

Households

2.2

Avg Household Size

35

Median Age

33%

College-Educated

80%

High-School Grad

2.3 sq mi

ZIP Area

10,377

Density / Sq Mi

$59,673

Median Household Income

$40,276

Median Earnings

$1,423

Median Rent

$273,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Each unit contains two bedrooms and one bathroom; the property is offered vacant.

Where is this duplex located?

The property is located at 35 Morehouse Street Bridgeport, CT.

What is the asking price?

The asking price for this property is $600,000.

What are key features of this property?

This property features: Legal two‑family property with two separate living units; Two 2‑bedroom, 1‑bath units; Offered vacant and sold as‑is