Two-Unit Duplex with Detached
For Sale
$559,900
Pending
503-505 Lincoln, Bridgeport, CT 06606
Legal two-family property with separate apartments, a detached two-car garage, and an as-is sale condition.
Property Size1,941 SF
Lot Size0.10 Acres
Days on Market58
Property Features for 503-505 Lincoln
General Information
Standard status
Pending
Size
1,941 SF
Total Parking Spaces
2
Lot size
0.10 Acres
Property subtype
2 Family
Lease Term
Listing ID: 24199892, Standard Status: Active Under Contract, MLS Status: Under Contract - Continue to Show, Property Subtype: 2 Family, 3 days on market
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 3-4BR/1BA
Multifamily Units
2
Building Details
Building Size
1,941 SF
Year Built
1941
Listing Agency:
RE/MAX Right Choice
(203) 268-1118
Listed By:
Paul Ferreira · License #RES.0756087
(203) 209-8111
Source:
Iverty
Added: Aug 19
Changed: Oct 13
Last Checked: Oct 14 at 11:50PM
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 RE/MAX Right Choice
Investment Insights
Based on property information with market context.
This legal two-family duplex contains 12 rooms, five to six bedrooms, and two bathrooms across 4,302 total square feet. The property includes 2,789 square feet of living space, 893 square feet of basement area, and a detached two-car garage on a 4,343-square-foot lot. The first apartment has five rooms, two bedrooms, and one bathroom. The second apartment spans the second and third floors, with seven rooms, three to four bedrooms, and one bathroom.
The property is being sold in as-is, where-is condition, and the units cannot be shown. Their condition is not known. Major shopping, D&D, Starbucks, and restaurants are 0.5 miles away, while I-95 is 0.8 miles from the property. Bridgeport train station is 2.9 miles away, and Merritt Parkway/Route 8 is 2.8 miles away.
Additional nearby destinations include St. Vincent Hospital at 1.1 miles, Beardsley Park at 1.5 miles, Seaside Park at 4.7 miles, and Bridgeport Hospital Yale New Haven at 3.7 miles. Schools are within a 1-mile radius. The property was built in 1941.
The property is being sold in as-is, where-is condition, and the units cannot be shown. Their condition is not known. Major shopping, D&D, Starbucks, and restaurants are 0.5 miles away, while I-95 is 0.8 miles from the property. Bridgeport train station is 2.9 miles away, and Merritt Parkway/Route 8 is 2.8 miles away.
Additional nearby destinations include St. Vincent Hospital at 1.1 miles, Beardsley Park at 1.5 miles, Seaside Park at 4.7 miles, and Bridgeport Hospital Yale New Haven at 3.7 miles. Schools are within a 1-mile radius. The property was built in 1941.
Key Highlights
- Legal two‑family duplex with 12 rooms, five to six bedrooms, and two bathrooms
- 2,789 square feet of living space plus 893 square feet of basement area
- Detached two‑car garage on a 4,343‑square‑foot lot (0.10 acres)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,143
Cap Rate
6.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$722,860
$722.9K
Cap Rate 7%
$516,329
$516.3K
Cap Rate 9%
$401,589
$401.6K
Market Conditions
NOI Build-Up for 2,789 SF
Gross rent
$55.2K $19.80/SF
− Vacancy
−$3.6K −$1.29/SF
EGI
$51.6K $18.51/SF
− OpEx
−$15.5K −$5.55/SF
NOI
$36.1K $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 Rate 5%
$722,860
Cap Rate 7%
$516,329
Cap Rate 9%
$401,589
Alternative Uses
Best Use
Multifamily LT 5
$516.3K
$451.8K – $602.4K
NOI $36,143 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$468.7K
$410.1K – $546.8K
NOI $32,806 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$796.0K
$696.5K – $928.7K
NOI $55,723 @ 7.0% cap · market cap 9.95%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,500
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Legal two-family property with separate apartments, a detached two-car garage, and an as-is sale condition.
Where is this duplex located?
The property is located at 503-505 Lincoln Bridgeport, CT.
What is the asking price?
The asking price for this property is $559,900.
What are key features of this property?
This property features: Legal two‑family duplex with 12 rooms, five to six bedrooms, and two bathrooms; 2,789 square feet of living space plus 893 square feet of basement area; Detached two‑car garage on a 4,343‑square‑foot lot (0.10 acres)
