Two-Family Residential Income
For Sale
$730,000
Pending
39-41 Grasso Terrace, Bridgeport, CT 06604
Well-maintained two-family with updated kitchens and baths, hardwood floors, and a detached two-car garage with off-street parking.
Property Size3,687 SF
Days on Market51
Property Features for 39-41 Grasso Terrace
General Information
Standard status
Pending
Size
3,687 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,077
Building Details
Building Size
3,687 SF
Year Built
1933
Listing Agency:
US Asset Realty
(203) 383-9986
Listed By:
Alexia Andrade · License #RES.0815052
(203) 383-9986
Source:
Higginsgroup
Added: Jul 10
Changed: Aug 24
Last Checked: Aug 23 at 9:45AM
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 US Asset Realty
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers a total of 8 bedrooms and 2 full bathrooms, with each unit featuring 4 bedrooms and 1 full bathroom. Both apartments include updated kitchens and bathrooms and hardwood floors throughout, supported by bright, functional layouts.
The property includes outdoor space with a private backyard and a deck. A detached 2-car garage provides off-street parking and additional storage.
Located on the Bridgeport/Fairfield border, the home is positioned for convenient access to I-95 and Route 8/25, with Metro-North train stations and nearby destinations including Sacred Heart University, St. Vincent’s Medical Center, shopping, restaurants, and parks.
The property includes outdoor space with a private backyard and a deck. A detached 2-car garage provides off-street parking and additional storage.
Located on the Bridgeport/Fairfield border, the home is positioned for convenient access to I-95 and Route 8/25, with Metro-North train stations and nearby destinations including Sacred Heart University, St. Vincent’s Medical Center, shopping, restaurants, and parks.
Key Highlights
- 1933‑built well‑maintained two‑family home with 8 bedrooms and 2 full bathrooms total
- Each unit offers 4 bedrooms and 1 full bathroom
- Updated kitchens and bathrooms in both apartments
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
$47,780
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%
$955,600
$955.6K
Cap Rate 7%
$682,571
$682.6K
Cap Rate 9%
$530,889
$530.9K
Market Conditions
NOI Build-Up for 3,687 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
$73.0K $19.80/SF
− Vacancy
−$4.7K −$1.29/SF
EGI
$68.3K $18.51/SF
− OpEx
−$20.5K −$5.55/SF
NOI
$47.8K $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%
$955,600
Cap Rate 7%
$682,571
Cap Rate 9%
$530,889
Alternative Uses
Best Use
Multifamily LT 5
$682.6K
$597.3K – $796.3K
NOI $47,780 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$619.6K
$542.1K – $722.8K
NOI $43,369 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.05M
$920.8K – $1.23M
NOI $73,664 @ 7.0% cap · market cap 10.09%
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
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
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 - Well-maintained two-family with updated kitchens and baths, hardwood floors, and a detached two-car garage with off-street parking.
Where is this duplex located?
The property is located at 39-41 Grasso Terrace Bridgeport, CT.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 1933‑built well‑maintained two‑family home with 8 bedrooms and 2 full bathrooms total; Each unit offers 4 bedrooms and 1 full bathroom; Updated kitchens and bathrooms in both apartments
