Duplex in Need of Extensive
For Sale
$399,000
Pending
44-46 Grenelle Street, Bridgeport, CT 06606
MULTI_FAMILY - Bridgeport, CT
Property Size2,400 SF
Lot Size0.15 Acres
Days on Market120
Property Features for 44-46 Grenelle Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
N2
Bedrooms
6
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bedroom 6, Bedroom 2, Bathroom 3, Bathroom 4, Basement, Bedroom 5, Bedroom 1, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 4
Parking
2
Basement
Unfinished, Full
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Main St to Charron to Grenelle (House Straight Ahead)
Standard status
Pending
Size
2,400 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
15272
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1919
Listing Agency:
Keller Williams Realty
(203) 429-4020
Listed By:
Kim Tromba · License #RES.0805598
(203) 550-6039
Added: May 4
Changed: Aug 3
Last Checked: Aug 31 at 3:06AM
MLS# 24171604
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.
This two-family duplex (44-46 Grenelle Street) was built in 1919 and is being sold as-is in need of extensive work. The property includes a basement and multiple bedrooms and bathrooms, with water provided by public source and sewer provided by public sewer. The site is 0.15 acres and the property size is 2,400 square feet.
The sale is subject to probate approval and requires the property to be sold together with the adjacent lot. Buyers must sign and follow the hold harmless process prior to entering the property, and buyers are expected to perform their own diligence. The property will not qualify for conventional mortgage financing and is described as cash only.
Zoning is N2.
The sale is subject to probate approval and requires the property to be sold together with the adjacent lot. Buyers must sign and follow the hold harmless process prior to entering the property, and buyers are expected to perform their own diligence. The property will not qualify for conventional mortgage financing and is described as cash only.
Zoning is N2.
Key Highlights
- Two‑family duplex built in 1919, sold as‑is and in need of extensive work
- 0.15‑acre lot and 2,400 SF property size
- N2 zoning
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
$31,102
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
7.79%
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%
$622,040
$622.0K
Cap Rate 7%
$444,314
$444.3K
Cap Rate 9%
$345,578
$345.6K
Market Conditions
NOI Build-Up for 2,400 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
$47.5K $19.80/SF
− Vacancy
−$3.1K −$1.29/SF
EGI
$44.4K $18.51/SF
− OpEx
−$13.3K −$5.55/SF
NOI
$31.1K $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%
$622,040
Cap Rate 7%
$444,314
Cap Rate 9%
$345,578
Alternative Uses
Best Use
Multifamily LT 5
$444.3K
$388.8K – $518.4K
NOI $31,102 @ 7.0% cap · market cap 7.79%
Second Best
Apartment 5plus
$403.3K
$352.9K – $470.5K
NOI $28,231 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$685.0K
$599.4K – $799.2K
NOI $47,951 @ 7.0% cap · market cap 12.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
933
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 - Duplex zoned N2 with public water and public sewer, sold as-is and subject to probate approval.
Where is this duplex located?
The property is located at 44-46 Grenelle Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two‑family duplex built in 1919, sold as‑is and in need of extensive work; 0.15‑acre lot and 2,400 SF property size; N2 zoning
