Updated Duplex with Two
For Sale
$440,000
375-377 Pearl Harbor Street, Bridgeport, CT 06610
Two-unit residential property with recent plumbing and water-heater improvements.
Property Size1,700 SF
Price / SF$258.82
Days on Market91
Property Features for 375-377 Pearl Harbor Street
General Information
Standard status
Active
Size
1,700 SF
Property subtype
2 Family
Building Details
Year Built
1942
Listing Agency:
RE/MAX Right Choice
(203) 520-6047
Listed By:
Johanna Vasquez
(203) 520-6047
Source:
Lockandkeyre
Added: Jun 2
Changed: Aug 29
Last Checked: Aug 30 at 6:29PM
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 RE/MAX Right Choice
Investment Insights
Based on property information with market context.
This duplex contains two residential units and was built in 1942. Recent improvements include an upgraded plumbing system and a newer water heater, with both updates completed one year ago. The property offers a practical two-unit configuration for residential use.
The home is near Bridgeport Hospital and within walking distance of an elementary school and a high school. Access to I-95 provides a direct connection to the regional roadway network. Its location and recent system updates add useful context for evaluating the property as a two-unit residential asset.
The home is near Bridgeport Hospital and within walking distance of an elementary school and a high school. Access to I-95 provides a direct connection to the regional roadway network. Its location and recent system updates add useful context for evaluating the property as a two-unit residential asset.
Key Highlights
- Duplex with two residential units
- Property built in 1942
- Upgraded plumbing completed one year ago
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
$22,030
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
5.01%
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%
$440,600
$440.6K
Cap Rate 7%
$314,714
$314.7K
Cap Rate 9%
$244,778
$244.8K
Market Conditions
NOI Build-Up for 1,700 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
$33.7K $19.80/SF
− Vacancy
−$2.2K −$1.29/SF
EGI
$31.5K $18.51/SF
− OpEx
−$9.4K −$5.55/SF
NOI
$22.0K $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%
$440,600
Cap Rate 7%
$314,714
Cap Rate 9%
$244,778
Alternative Uses
Best Use
Multifamily LT 5
$314.7K
$275.4K – $367.2K
NOI $22,030 @ 7.0% cap · market cap 5.01%
Second Best
Apartment 5plus
$285.7K
$250.0K – $333.3K
NOI $19,997 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$485.2K
$424.6K – $566.1K
NOI $33,965 @ 7.0% cap · market cap 7.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
365
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 - Two-unit residential property with recent plumbing and water-heater improvements.
Where is this duplex located?
The property is located at 375-377 Pearl Harbor Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Duplex with two residential units; Property built in 1942; Upgraded plumbing completed one year ago
