Triplex with Attic
For Sale
$630,000
356-358 Connecticut Ave, Bridgeport, CT 06607
Fully occupied income property with two residential floors and a finished attic level.
Property Size3,310 SF
Price / SF$190.33
Days on Market40
Property Features for 356-358 Connecticut Ave
General Information
Standard status
Active
Size
3,310 SF
Property subtype
Multi-Family
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
does need TLC
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1897
Listing Agency:
HJL Realty, LLC
(203) 414-1013
Listed By:
Hoffman Jean-Louis · License #REB.0790314
Source:
Homesbyshoshana
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 25 at 4:51AM
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 HJL Realty, LLC
Investment Insights
Based on property information with market context.
This 3310 SF triplex, built in 1897, includes 14 rooms across three units. The first floor contains three bedrooms, a living room, an eat-in kitchen, and a full bathroom. The second floor offers two bedrooms, a formal dining room, an eat-in kitchen, and a full bathroom. A four-room attic unit adds a half bathroom.
The property is fully occupied and will convey as-is. Repairs are needed in both kitchens, the two full bathrooms, the attic half bathroom, and the garage. The building is located near downtown Bridgeport train station, I-95 North/South, and Bridgeport Bass Pro Shops.
The property is fully occupied and will convey as-is. Repairs are needed in both kitchens, the two full bathrooms, the attic half bathroom, and the garage. The building is located near downtown Bridgeport train station, I-95 North/South, and Bridgeport Bass Pro Shops.
Key Highlights
- 3310 SF triplex built in 1897
- Three units with 14 total rooms
- First‑floor unit has 3 bedrooms and a full bathroom
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
$42,895
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
6.81%
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%
$857,900
$857.9K
Cap Rate 7%
$612,786
$612.8K
Cap Rate 9%
$476,611
$476.6K
Market Conditions
NOI Build-Up for 3,310 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
$65.5K $19.80/SF
− Vacancy
−$4.3K −$1.29/SF
EGI
$61.3K $18.51/SF
− OpEx
−$18.4K −$5.55/SF
NOI
$42.9K $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%
$857,900
Cap Rate 7%
$612,786
Cap Rate 9%
$476,611
Alternative Uses
Best Use
Multifamily LT 5
$612.8K
$536.2K – $714.9K
NOI $42,895 @ 7.0% cap · market cap 6.81%
Second Best
Apartment 5plus
$556.2K
$486.7K – $648.9K
NOI $38,935 @ 7.0% cap · market cap 6.18%
Theoretical Best
Office A
$944.7K
$826.7K – $1.10M
NOI $66,132 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
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?
Triplex - Fully occupied income property with two residential floors and a finished attic level.
Where is this triplex located?
The property is located at 356-358 Connecticut Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: 3310 SF triplex built in 1897; Three units with 14 total rooms; First‑floor unit has 3 bedrooms and a full bathroom
