Vacant Two-Unit
New
For Sale
$600,000
35 Morehouse Street, Bridgeport, CT 06605
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size2,436 SF
Lot Size0.06 Acres
Price / SF$246.31
Days on Market6
Property Features for 35 Morehouse Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
ORS
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 1, Basement, Bedroom 2, Bathroom 2
Basement
Unfinished, Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Fairfield Ave to Morehouse St
Subdivision
Black Rock
Standard status
Active
Size
2,436 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7386
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Water source
Public
Building Details
Year built
1911
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 372-6996
Listed By:
JD Defrancisco
(203) 243-7823
Added: Aug 30
Changed: Sep 4
Last Checked: Sep 4 at 2:06PM
MLS# 24202652
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,436-square-foot duplex contains two separate two-bedroom, one-bath residences and is being offered vacant. The property includes a finished attic, basement storage and utility space, gas-fired hot-water heating, and a layout suited to a two-family configuration. Built in 1911, the building is served by public water and public sewer and is designated ORS zoning. The property is offered as-is.
The address is in Bridgeport’s Black Rock area, with Fairfield Metro approximately two minutes away. Fairfield Avenue, restaurants, bars, shops, parks, and transportation are identified among the nearby neighborhood amenities. The 0.06-acre property provides a compact residential income asset with two established living units and additional interior space in the attic and basement.
The address is in Bridgeport’s Black Rock area, with Fairfield Metro approximately two minutes away. Fairfield Avenue, restaurants, bars, shops, parks, and transportation are identified among the nearby neighborhood amenities. The 0.06-acre property provides a compact residential income asset with two established living units and additional interior space in the attic and basement.
Key Highlights
- 2,436‑square‑foot duplex with two separate residential units
- Two 2‑bedroom, 1‑bath units offered vacant
- Finished attic with expansion potential
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
$31,568
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
5.26%
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%
$631,360
$631.4K
Cap Rate 7%
$450,971
$451.0K
Cap Rate 9%
$350,756
$350.8K
Market Conditions
NOI Build-Up for 2,436 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
$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 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%
$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
NOI $31,568 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$409.3K
$358.2K – $477.6K
NOI $28,654 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$695.3K
$608.4K – $811.2K
NOI $48,670 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Vacant legal two-family property with separate living spaces, a finished attic, and basement utility areas.
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: 2,436‑square‑foot duplex with two separate residential units; Two 2‑bedroom, 1‑bath units offered vacant; Finished attic with expansion potential
