Two-Family Residential Income
For Sale
$609,000
Pending
416 Wells Street, Bridgeport, CT 06606
Well-maintained duplex with spacious bedrooms on each floor, updated garage, and a partially finished full basement.
Property Size2,132 SF
Days on Market54
Property Features for 416 Wells Street
General Information
Standard status
Pending
Size
2,132 SF
Property subtype
2 Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1952
Listing Agency:
Mia Realty LLC
Listed By:
Ian Ross · License #REB.0795695
(203) 216-8853
Source:
Lockandkeyre
Added: Jul 16
Changed: Aug 8
Last Checked: Jul 28 at 4:22AM
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 Mia Realty LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family property offers spacious rooms on each floor, including large bedrooms, and is presented as move-in ready. The home includes an updated and well-maintained garage sized for vehicles and storage of landscaping equipment. A full basement is also partially finished, adding flexibility to the indoor space.
The property is located in an area close to schools and downtown, with easy access to highways and nearby shopping.
Offered for sale as a residential income property, the layout supports either living in one unit while renting the other or operating as a cash-flow focused investment.
The property is located in an area close to schools and downtown, with easy access to highways and nearby shopping.
Offered for sale as a residential income property, the layout supports either living in one unit while renting the other or operating as a cash-flow focused investment.
Key Highlights
- Well‑maintained 2‑family duplex built in 1952
- Spacious bedrooms on each floor with huge room sizes
- Updated/maintained garage big enough for cars and storage for landscaping equipment
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
$27,629
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
4.54%
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%
$552,580
$552.6K
Cap Rate 7%
$394,700
$394.7K
Cap Rate 9%
$306,989
$307.0K
Market Conditions
NOI Build-Up for 2,132 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
$42.2K $19.80/SF
− Vacancy
−$2.7K −$1.29/SF
EGI
$39.5K $18.51/SF
− OpEx
−$11.8K −$5.55/SF
NOI
$27.6K $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%
$552,580
Cap Rate 7%
$394,700
Cap Rate 9%
$306,989
Alternative Uses
Best Use
Multifamily LT 5
$394.7K
$345.4K – $460.5K
NOI $27,629 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$358.3K
$313.5K – $418.0K
NOI $25,078 @ 7.0% cap · market cap 4.12%
Theoretical Best
Office A
$608.5K
$532.5K – $709.9K
NOI $42,596 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,743
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with spacious bedrooms on each floor, updated garage, and a partially finished full basement.
Where is this duplex located?
The property is located at 416 Wells Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $609,000.
What are key features of this property?
This property features: Well‑maintained 2‑family duplex built in 1952; Spacious bedrooms on each floor with huge room sizes; Updated/maintained garage big enough for cars and storage for landscaping equipment
