Two-Family Residential Income
For Sale
$445,000
Pending
403-405 Indian Avenue, Bridgeport, CT 06606
Built in 1962, this two-family residence offers separate utilities, individual entrances, off-street parking, and a spacious backyard.
Property Size1,962 SF
Days on Market54
Property Features for 403-405 Indian Avenue
General Information
Standard status
Pending
Size
1,962 SF
Total Parking Spaces
4
Property subtype
2 Family
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Building Size
1,962 SF
Year Built
1962
Listing Agency:
BHGRE Gaetano Marra Homes
Listed By:
Kristen Heinrich · License #RES.0797129
(475) 266-0113
Source:
Iverty
Added: Jul 23
Changed: Sep 13
Last Checked: Sep 13 at 9:13AM
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 BHGRE Gaetano Marra Homes
Investment Insights
Based on property information with market context.
Built in 1962, this two-family residence contains approximately 1,848 square feet of living space and is configured for separate occupancy. Each unit has its own individual entrance and separate utilities, with sun-filled interiors, hardwood floors, and generous room sizes.
The property includes off-street parking for approximately four vehicles and a spacious backyard. Roof is approximately seven years old. Both units are currently tenant occupied on month-to-month leases.
Located in Bridgeport’s North End, the property is described as being minutes from Sacred Heart University, St. Vincent’s Medical Center, shopping, restaurants, parks, public transportation, and major roadways including Route 8, Route 25, the Merritt Parkway, and I-95.
The property includes off-street parking for approximately four vehicles and a spacious backyard. Roof is approximately seven years old. Both units are currently tenant occupied on month-to-month leases.
Located in Bridgeport’s North End, the property is described as being minutes from Sacred Heart University, St. Vincent’s Medical Center, shopping, restaurants, parks, public transportation, and major roadways including Route 8, Route 25, the Merritt Parkway, and I-95.
Key Highlights
- Two‑family residence built in 1962 with approximately 1,848 SF of living space
- Separate utilities and individual entrances for each unit
- Roof is approximately 7 years old
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
$23,948
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
5.38%
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%
$478,960
$479.0K
Cap Rate 7%
$342,114
$342.1K
Cap Rate 9%
$266,089
$266.1K
Market Conditions
NOI Build-Up for 1,848 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
$36.6K $19.80/SF
− Vacancy
−$2.4K −$1.29/SF
EGI
$34.2K $18.51/SF
− OpEx
−$10.3K −$5.55/SF
NOI
$23.9K $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%
$478,960
Cap Rate 7%
$342,114
Cap Rate 9%
$266,089
Alternative Uses
Best Use
Multifamily LT 5
$342.1K
$299.4K – $399.1K
NOI $23,948 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$310.5K
$271.7K – $362.3K
NOI $21,738 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$527.5K
$461.5K – $615.4K
NOI $36,922 @ 7.0% cap · market cap 8.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
414
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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 - Built in 1962, this two-family residence offers separate utilities, individual entrances, off-street parking, and a spacious backyard.
Where is this duplex located?
The property is located at 403-405 Indian Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Two‑family residence built in 1962 with approximately 1,848 SF of living space; Separate utilities and individual entrances for each unit; Roof is approximately 7 years old
