Well-Maintained Three-Family
For Sale
$625,000
Pending
43 Elmwood Avenue, Bridgeport, CT 06605
Solid investment opportunity near highways, train, shopping, and universities.
Property Size3,236 SF
Days on Market158
Property Features for 43 Elmwood Avenue
General Information
Standard status
Pending
Size
3,236 SF
Property subtype
3 Family
Building Details
Year Built
1912
Listing Agency:
Coldwell Banker Realty
Listed By:
Jennifer Capozziello · License #RES.0781137
(203) 673-9272
Source:
Lockandkeyre
Added: Apr 3
Changed: Aug 8
Last Checked: Jul 23 at 5:39AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This is a solid three-family home featuring three bedrooms in each unit. The property has been well-maintained by the same owner for over 25 years. Recent upgrades within the last five years include a new asphalt shingle roof, updated exterior siding, and upgraded mechanicals, including gas furnaces and hot water heaters. All three units have been freshly painted, with updated kitchens and bathrooms. The basement offers a washer and dryer along with ample storage space. Additional features include off-street parking for one car and a fenced-in backyard with an oversized attached deck. It is an excellent opportunity for investors or owner-occupants looking to live in one unit while generating rental income from the others. The property is conveniently located near major highways, the train station, shopping, Seaside Park, and local universities. The property size is 3236 square feet.
Key Highlights
- Three updated units, each featuring three bedrooms, updated kitchens and bathrooms, and fresh paint.
- Recent upgrades include a new roof, updated siding, and upgraded mechanicals (gas furnaces and hot water heaters).
- Ideal for investors or owner‑occupants seeking rental income.
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
$41,936
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
6.71%
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%
$838,720
$838.7K
Cap Rate 7%
$599,086
$599.1K
Cap Rate 9%
$465,956
$466.0K
Market Conditions
NOI Build-Up for 3,236 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
$64.1K $19.80/SF
− Vacancy
−$4.2K −$1.29/SF
EGI
$59.9K $18.51/SF
− OpEx
−$18.0K −$5.55/SF
NOI
$41.9K $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%
$838,720
Cap Rate 7%
$599,086
Cap Rate 9%
$465,956
Alternative Uses
Best Use
Multifamily LT 5
$599.1K
$524.2K – $698.9K
NOI $41,936 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$543.8K
$475.8K – $634.4K
NOI $38,064 @ 7.0% cap · market cap 6.09%
Theoretical Best
Office A
$923.6K
$808.2K – $1.08M
NOI $64,654 @ 7.0% cap · market cap 10.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,507
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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?
Triplex - Solid investment opportunity near highways, train, shopping, and universities.
Where is this triplex located?
The property is located at 43 Elmwood Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Three updated units, each featuring three bedrooms, updated kitchens and bathrooms, and fresh paint.; Recent upgrades include a new roof, updated siding, and upgraded mechanicals (gas furnaces and hot water heaters).; Ideal for investors or owner‑occupants seeking rental income.
