Two-Unit Home with Finished
487 Salem, Bridgeport, CT 06606
For Sale
$669,900
Two residential units offer practical layouts, private outdoor space, and off-street parking near everyday services and transit.
Property Size1,962 SF
Price / SF$348.91
Days on Market56
Property Features for 487 Salem
General Information
Standard status
Size
Property subtype
Lease Term
Site & Location
Neighborhood
Public Transit
Units
Unit Mix
Multifamily Units
Amenities
finished basement
private fenced-in backyard
off-street parking
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Rosana Melo Realty
Listed By:
Rosania Melo · License CT REB.0795867
(203) 545-1459
Source:
Iverty
Added: Sep 16
Changed: Nov 10
Last Checked: Nov 10 at 8:44AM
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 Rosana Melo Realty
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Investment Insights
Based on property information with market context.
This two-unit residential property, built in 1962, contains 1,920 square feet. Each unit includes an eat-in kitchen, living room, two bedrooms, and one full bathroom. The building also provides a finished basement, a fenced backyard, and a driveway for off-street parking.
The property is located near hospitals, pharmacies, grocery stores, restaurants, and public transportation. Its two-unit configuration and separate residential layouts support both owner-occupant and investment use, as described in the property information.
The property is located near hospitals, pharmacies, grocery stores, restaurants, and public transportation. Its two-unit configuration and separate residential layouts support both owner-occupant and investment use, as described in the property information.
Key Highlights
- Two‑unit residential property with 1,920 square feet
- Each unit includes an eat‑in kitchen, living room, two bedrooms, and one full bathroom
- Finished basement provides additional interior space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,881
Cap Rate
3.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$497,620
$497.6K
Cap Rate 7%
$355,443
$355.4K
Cap Rate 9%
$276,456
$276.5K
Market Conditions
NOI Build-Up for 1,920 SF
Gross rent
$38.0K $19.80/SF
− Vacancy
−$2.5K −$1.29/SF
EGI
$35.5K $18.51/SF
− OpEx
−$10.7K −$5.55/SF
NOI
$24.9K $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 Rate 5%
$497,620
Cap Rate 7%
$355,443
Cap Rate 9%
$276,456
Alternative Uses
Best Use
Multifamily LT 5
$355.4K
$311.0K – $414.7K
NOI $24,881 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$322.6K
$282.3K – $376.4K
NOI $22,585 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$548.0K
$479.5K – $639.4K
NOI $38,361 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,637
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
$272,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Bridgeport, CT
Properties on Market for Duplexes in Bridgeport
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer practical layouts, private outdoor space, and off-street parking near everyday services and transit.
Where is this duplex located?
The property is located at 487 Salem Bridgeport, CT.
What is the asking price?
The asking price for this property is $669,900.
What are key features of this property?
This property features: Two‑unit residential property with 1,920 square feet; Each unit includes an eat‑in kitchen, living room, two bedrooms, and one full bathroom; Finished basement provides additional interior space
