Remodeled Two-Family
For Sale
$575,000
464-466 Wilmot Avenue, Bridgeport, CT 06607
Turnkey remodeled two-family with a finished upper level and off-street parking.
Property Size3,328 SF
Price / SF$172.78
Days on Market103
Property Features for 464-466 Wilmot Avenue
General Information
Standard status
Active
Size
3,328 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1917
Listing Agency:
Coote & Burwell Realty,LLC
Listed By:
Komica Coote-Burwell
(203) 449-2580
Source:
Lockandkeyre
Added: Jun 4
Changed: Sep 13
Last Checked: Sep 13 at 9:55AM
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 Coote & Burwell Realty,LLC
Investment Insights
Based on property information with market context.
This remodeled oversized two-family duplex offers a practical, move-in-ready setup with a finished upper story designed for added functional space. The property is presented as turnkey and includes off-street parking, which can be a meaningful benefit for tenants and daily convenience.
Located at 464-466 Wilmot Ave in Bridgeport, Connecticut, the home sits in an area that scores as very walkable (Walk Score 72) with some access to transit (Transit Score 41). Bikeability is also noted (Bike Score 56), supporting day-to-day errands without relying solely on a vehicle.
For buyers seeking a manageable residential income asset, this configuration provides two separate dwelling units within a single duplex structure, along with the added appeal of a finished upper level. The combination of remodeling, turnkey presentation, and off-street parking can help reduce near-term upgrades and operating friction. Buyers should review details on unit layout, finish level, and any associated property specifics during their due diligence.
Located at 464-466 Wilmot Ave in Bridgeport, Connecticut, the home sits in an area that scores as very walkable (Walk Score 72) with some access to transit (Transit Score 41). Bikeability is also noted (Bike Score 56), supporting day-to-day errands without relying solely on a vehicle.
For buyers seeking a manageable residential income asset, this configuration provides two separate dwelling units within a single duplex structure, along with the added appeal of a finished upper level. The combination of remodeling, turnkey presentation, and off-street parking can help reduce near-term upgrades and operating friction. Buyers should review details on unit layout, finish level, and any associated property specifics during their due diligence.
Key Highlights
- Remodeled two‑family home built in 1917
- Finished upper level for additional living space
- Off‑street parking
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
$43,128
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
7.50%
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%
$862,560
$862.6K
Cap Rate 7%
$616,114
$616.1K
Cap Rate 9%
$479,200
$479.2K
Market Conditions
NOI Build-Up for 3,328 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
$65.9K $19.80/SF
− Vacancy
−$4.3K −$1.29/SF
EGI
$61.6K $18.51/SF
− OpEx
−$18.5K −$5.55/SF
NOI
$43.1K $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%
$862,560
Cap Rate 7%
$616,114
Cap Rate 9%
$479,200
Alternative Uses
Best Use
Multifamily LT 5
$616.1K
$539.1K – $718.8K
NOI $43,128 @ 7.0% cap · market cap 7.50%
Second Best
Apartment 5plus
$559.2K
$489.3K – $652.5K
NOI $39,147 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$949.9K
$831.2K – $1.11M
NOI $66,492 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
915
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Turnkey remodeled two-family with a finished upper level and off-street parking.
Where is this duplex located?
The property is located at 464-466 Wilmot Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Remodeled two‑family home built in 1917; Finished upper level for additional living space; Off‑street parking
