Updated Duplex With Full
For Sale
$650,000
45 Grasso Terrace, Bridgeport, CT 06604
Two residential units offer hardwood floors, refreshed kitchens, contemporary bathrooms, and shared off-street parking.
Property Size1,965 SF
Price / SF$276.36
Days on Market17
Property Features for 45 Grasso Terrace
General Information
Standard status
Active
Size
1,965 SF
Property subtype
2 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Amenities
laundry hookups
Building Details
Building Size
1,965 SF
Year Built
1965
Buildings
1
Listing Agency:
Compass Connecticut, LLC
(203) 913-4026
Listed By:
Helene Daly · License #RES.0755863
(203) 913-4026
Source:
Iverty
Added: Aug 14
Changed: Aug 24
Last Checked: Aug 25 at 6:16AM
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 Compass Connecticut, LLC
Investment Insights
Based on property information with market context.
This two-family property, built in 1965, provides two well-proportioned residences with hardwood flooring and neutral interior finishes. Both units include updated kitchens with light maple cabinetry, newer appliances, integrated microwaves, and dining areas suited to everyday use. Updated full bathrooms add to the practical layout.
A full unfinished basement expands the property’s utility with interior access, laundry hookups, and storage space. Parking includes a shared driveway and additional off-street spaces behind the building, with street parking available for guests. The property is located in Bridgeport’s Brooklawn neighborhood, near Brooklawn Country Club, a bus line, and I-95, and sits close to the Fairfield line.
A full unfinished basement expands the property’s utility with interior access, laundry hookups, and storage space. Parking includes a shared driveway and additional off-street spaces behind the building, with street parking available for guests. The property is located in Bridgeport’s Brooklawn neighborhood, near Brooklawn Country Club, a bus line, and I-95, and sits close to the Fairfield line.
Key Highlights
- Two‑family property with two residential units
- Built in 1965 with hardwood flooring throughout the units
- Updated kitchens with light maple cabinets and newer appliances
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
$30,480
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
4.69%
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%
$609,600
$609.6K
Cap Rate 7%
$435,429
$435.4K
Cap Rate 9%
$338,667
$338.7K
Market Conditions
NOI Build-Up for 2,352 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
$46.6K $19.80/SF
− Vacancy
−$3.0K −$1.29/SF
EGI
$43.5K $18.51/SF
− OpEx
−$13.1K −$5.55/SF
NOI
$30.5K $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%
$609,600
Cap Rate 7%
$435,429
Cap Rate 9%
$338,667
Alternative Uses
Best Use
Multifamily LT 5
$435.4K
$381.0K – $508.0K
NOI $30,480 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$395.2K
$345.8K – $461.1K
NOI $27,666 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$671.3K
$587.4K – $783.2K
NOI $46,992 @ 7.0% cap · market cap 7.23%
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
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
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 residential units offer hardwood floors, refreshed kitchens, contemporary bathrooms, and shared off-street parking.
Where is this duplex located?
The property is located at 45 Grasso Terrace Bridgeport, CT.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Two‑family property with two residential units; Built in 1965 with hardwood flooring throughout the units; Updated kitchens with light maple cabinets and newer appliances
