Duplex with Updated
For Sale
$429,000
4 Armstrong Place, Bridgeport, CT 06608
Two-family property with newer siding, roofing, gutters, and completed chimney work in Bridgeport.
Property Size1,794 SF
Price / SF$239.13
Days on Market15
Property Features for 4 Armstrong Place
General Information
Standard status
Active
Size
1,794 SF
Property subtype
2 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1882
Listing Agency:
The Bella Group, LLC
(203) 768-7480
Listed By:
Diane Roldan
(203) 768-7480
Source:
Lockandkeyre
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 30 at 6:00PM
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 The Bella Group, LLC
Investment Insights
Based on property information with market context.
This two-family duplex, built in 1882, includes several recent exterior improvements: newer siding, a newer roof, updated gutters, and completed chimney work. Rental income is currently in place, providing an established income component for the property.
The home is located at 4 Armstrong Pl in Bridgeport, Connecticut, with access to major highways, shopping, and local amenities. WalkScore is 78, classified as Very Walkable; BikeScore is 60, classified as Bikeable; and TransitScore is 58, classified as Good Transit.
The home is located at 4 Armstrong Pl in Bridgeport, Connecticut, with access to major highways, shopping, and local amenities. WalkScore is 78, classified as Very Walkable; BikeScore is 60, classified as Bikeable; and TransitScore is 58, classified as Good Transit.
Key Highlights
- Two‑family duplex built in 1882
- Newer siding, roof, and gutters
- Chimney work has been completed
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
$23,249
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
5.42%
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%
$464,980
$465.0K
Cap Rate 7%
$332,129
$332.1K
Cap Rate 9%
$258,322
$258.3K
Market Conditions
NOI Build-Up for 1,794 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
$35.5K $19.80/SF
− Vacancy
−$2.3K −$1.29/SF
EGI
$33.2K $18.51/SF
− OpEx
−$10.0K −$5.55/SF
NOI
$23.2K $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%
$464,980
Cap Rate 7%
$332,129
Cap Rate 9%
$258,322
Alternative Uses
Best Use
Multifamily LT 5
$332.1K
$290.6K – $387.5K
NOI $23,249 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$301.5K
$263.8K – $351.7K
NOI $21,102 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$512.0K
$448.0K – $597.4K
NOI $35,843 @ 7.0% cap · market cap 8.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
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-family property with newer siding, roofing, gutters, and completed chimney work in Bridgeport.
Where is this duplex located?
The property is located at 4 Armstrong Place Bridgeport, CT.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Two‑family duplex built in 1882; Newer siding, roof, and gutters; Chimney work has been completed
