Multifamily Property with Central
New
For Sale
$950,000
391 Coleman Street, Bridgeport, CT 06604
MULTI_FAMILY - Bridgeport, CT
Property Size2,830 SF
Lot Size0.07 Acres
Price / SF$335.69
Days on Market3
Property Features for 391 Coleman Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
RB
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 2, Bathroom 3, Bedroom 10, Bedroom 4, Bedroom 1, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 9, Bedroom 5, Bedroom 7, Bedroom 8, Bathroom 1
Basement
Crawl Space
Lot features
Corner Lot, Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS Accesible
Standard status
Active
Size
2,830 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2079
Utilities
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
2026
Architectural style
Other
Listing Agency:
US Asset Realty
(800) 913-1936
Listed By:
Alexia Andrade · License #RES.0815052
(203) 383-9986
Added: Aug 6
Last Checked: Aug 8 at 12:06PM
MLS# 24197470
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 391 Coleman Street in Bridgeport, this multifamily property offers 2,830 square feet across a layout with 10 bedrooms and 4 bathrooms. The interiors include open-concept living areas, recessed lighting, hardwood-style flooring, contemporary kitchens with white cabinetry, stainless steel appliances, and updated bathrooms. In-unit laundry adds day-to-day convenience.
The property is situated near shopping, dining, parks, public transportation, and major highways. It is served by public water and public sewer, with hot-water heating and central air conditioning. The site encompasses 0.07 acres and carries RB zoning. Built in 2026, the property provides a multifamily configuration with multiple bedrooms and flexible living areas.
The property is situated near shopping, dining, parks, public transportation, and major highways. It is served by public water and public sewer, with hot-water heating and central air conditioning. The site encompasses 0.07 acres and carries RB zoning. Built in 2026, the property provides a multifamily configuration with multiple bedrooms and flexible living areas.
Key Highlights
- 2,830‑square‑foot multifamily property on 0.07 acres
- 10 bedrooms and 4 bathrooms
- Open‑concept living areas with recessed lighting and hardwood‑style flooring
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
$33,289
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
3.50%
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%
$665,780
$665.8K
Cap Rate 7%
$475,557
$475.6K
Cap Rate 9%
$369,878
$369.9K
Market Conditions
NOI Build-Up for 2,830 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
$63.8K $22.56/SF
− Vacancy
−$3.3K −$1.17/SF
EGI
$60.5K $21.39/SF
− OpEx
−$27.2K −$9.62/SF
NOI
$33.3K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$665,780
Cap Rate 7%
$475,557
Cap Rate 9%
$369,878
Alternative Uses
Best Use
Apartment 5plus
$475.6K
$416.1K – $554.8K
NOI $33,289 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$807.7K
$706.8K – $942.4K
NOI $56,542 @ 7.0% cap · market cap 5.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,925
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?
Multifamily property - Ten-bedroom, four-bathroom layouts feature open living areas, contemporary kitchens, and in-unit laundry.
Where is this multifamily property located?
The property is located at 391 Coleman Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 2,830‑square‑foot multifamily property on 0.07 acres; 10 bedrooms and 4 bathrooms; Open‑concept living areas with recessed lighting and hardwood‑style flooring
