Renovated Duplex with Updated
For Sale
$335,000
37 Granfield Avenue, Bridgeport, CT 06610
Detached two-family property with refreshed units and tenant-paid electric and gas utilities.
Property Size1,008 SF
Price / SF$332.34
Days on Market429
Property Features for 37 Granfield Avenue
General Information
Standard status
Active
Size
1,008 SF
Property subtype
Multi-Family / 2 Family
Zoning
RC
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,679
Amenities
No
Hot Air
7
Beach Rights
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Top Tier Realty Group, LLC
(203) 521-5339
Listed By:
Lisa Nussbaum · License #REB.0794757
(203) 521-5339
Source:
Compass
Added: Jun 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:18PM
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 Top Tier Realty Group, LLC
Investment Insights
Based on property information with market context.
This fully detached duplex contains 1,008 square feet and was built in 1930. The property includes two residential units, each configured as either a studio or one-bedroom, one-bath layout. Both interiors have been updated and are positioned for occupancy. The building is supported by two new boilers installed in 04/2024, while the roof is estimated to be 8-9 years old.
Tenants are responsible for their own electric and gas, providing a defined utility arrangement for ownership. The property is zoned RC and includes beach rights. Projected stabilized performance is approximately a 9.1% cap rate.
Tenants are responsible for their own electric and gas, providing a defined utility arrangement for ownership. The property is zoned RC and includes beach rights. Projected stabilized performance is approximately a 9.1% cap rate.
Key Highlights
- Two‑family duplex with 2 residential units
- 1,008 square feet on a property built in 1930
- Both units updated and configured as studio or 1‑bedroom/1‑bath layouts
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
$13,063
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
3.90%
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%
$261,260
$261.3K
Cap Rate 7%
$186,614
$186.6K
Cap Rate 9%
$145,144
$145.1K
Market Conditions
NOI Build-Up for 1,008 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
$20.0K $19.80/SF
− Vacancy
−$1.3K −$1.29/SF
EGI
$18.7K $18.51/SF
− OpEx
−$5.6K −$5.55/SF
NOI
$13.1K $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%
$261,260
Cap Rate 7%
$186,614
Cap Rate 9%
$145,144
Alternative Uses
Best Use
Multifamily LT 5
$186.6K
$163.3K – $217.7K
NOI $13,063 @ 7.0% cap · market cap 3.90%
Second Best
Apartment 5plus
$169.4K
$148.2K – $197.6K
NOI $11,857 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$287.7K
$251.7K – $335.7K
NOI $20,139 @ 7.0% cap · market cap 6.01%
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
1,419
Businesses Nearby
Explore this area
Business Placement
Demographics for 06610, CT
23,347
Population
9,292
Households
2.5
Avg Household Size
39
Median Age
17%
College-Educated
78%
High-School Grad
3.1 sq mi
ZIP Area
7,531
Density / Sq Mi
$50,836
Median Household Income
$36,698
Median Earnings
$1,364
Median Rent
$224,700
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 - Detached two-family property with refreshed units and tenant-paid electric and gas utilities.
Where is this duplex located?
The property is located at 37 Granfield Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Two‑family duplex with 2 residential units; 1,008 square feet on a property built in 1930; Both units updated and configured as studio or 1‑bedroom/1‑bath layouts
