New Construction
For Sale
$780,000
Pending
384 CONNECTICUT Ave, Bridgeport, CT 06610
Two residences are planned with hardwood floors, central air conditioning, and finished lower-level and attic space.
Property Size3,940 SF
Days on Market126
Property Features for 384 CONNECTICUT Ave
General Information
Standard status
Pending
Size
3,940 SF
Property subtype
Multi Family
Building Details
Building Size
3,940 SF
Year Built
2026
Listing Agency:
Premium Realty, LLC
(203) 615-4766
Listed By:
Marcia Macedo
Source:
Elliman
Added: Apr 28
Changed: Aug 29
Last Checked: Aug 30 at 2:54PM
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 Premium Realty, LLC
Investment Insights
Based on property information with market context.
Under construction at 384 Connecticut Ave in Bridgeport, this duplex is planned with approximately 3,600 square feet of finished living space across two residences. The first-floor home will connect to a finished basement and include five bedrooms and two full bathrooms. The second-floor residence will incorporate a finished attic and offer the same bedroom and bathroom count.
Planned interior features include hardwood flooring, central air conditioning, and open living areas with modern layouts. Estimated completion is May 20, 2026, with the property identified as a 2026 construction project. The address has a Walk Score of 72, a Bike Score of 56, and a Transit Score of 41.
Planned interior features include hardwood flooring, central air conditioning, and open living areas with modern layouts. Estimated completion is May 20, 2026, with the property identified as a 2026 construction project. The address has a Walk Score of 72, a Bike Score of 56, and a Transit Score of 41.
Key Highlights
- Approximately 3,600 SF of finished living space across two residences
- Each residence is planned with 5 bedrooms and 2 full bathrooms
- First‑floor residence includes a fully finished basement
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
$51,059
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
6.55%
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%
$1,021,180
$1.0M
Cap Rate 7%
$729,414
$729.4K
Cap Rate 9%
$567,322
$567.3K
Market Conditions
NOI Build-Up for 3,940 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
$78.0K $19.80/SF
− Vacancy
−$5.1K −$1.29/SF
EGI
$72.9K $18.51/SF
− OpEx
−$21.9K −$5.55/SF
NOI
$51.1K $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%
$1,021,180
Cap Rate 7%
$729,414
Cap Rate 9%
$567,322
Alternative Uses
Best Use
Multifamily LT 5
$729.4K
$638.2K – $851.0K
NOI $51,059 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$662.1K
$579.3K – $772.4K
NOI $46,345 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.12M
$984.0K – $1.31M
NOI $78,719 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,093
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 residences are planned with hardwood floors, central air conditioning, and finished lower-level and attic space.
Where is this duplex located?
The property is located at 384 CONNECTICUT Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: Approximately 3,600 SF of finished living space across two residences; Each residence is planned with 5 bedrooms and 2 full bathrooms; First‑floor residence includes a fully finished basement
