Duplex With Three-Bedroom
For Sale
$569,990
509 Westfield Avenue, Bridgeport, CT 06606
Two residential units offer full-unit or room-by-room leasing flexibility, with off-street parking for occupants.
Property Size2,064 SF
Price / SF$276.16
Days on Market153
Property Features for 509 Westfield Avenue
General Information
Standard status
Active
Size
2,064 SF
Property subtype
Multi-Family / 2 Family
Zoning
RA
Taxes and HOA fees
Annual Taxes
$8,401
Amenities
No
Hot Water
12
Ceiling Fans, Window Unit
Not Applicable
Building Details
Year Built
1978
Listing Agency:
Social & Co Realty
(203) 745-8602
Listed By:
Jonathan M Santos · License #RES.0832025
(203) 745-8602
Source:
Compass
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 3:52PM
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 Social & Co Realty
Investment Insights
Based on property information with market context.
Located at 509 Westfield Avenue in Bridgeport, this 2,064-square-foot duplex was built in 1978 and contains two residential units. Each unit has a three-bedroom layout, supporting either full-unit leasing or room-by-room arrangements. Interior features include hot water, ceiling fans, and window-unit cooling, while ample off-street parking serves the property.
The property is approximately 5 minutes from Sacred Heart University, a location specifically suited to student-housing use. The address is also positioned near transportation and areas identified for redevelopment. Zoning is RA.
The property is approximately 5 minutes from Sacred Heart University, a location specifically suited to student-housing use. The address is also positioned near transportation and areas identified for redevelopment. Zoning is RA.
Key Highlights
- 2,064‑square‑foot duplex built in 1978
- Two units, each with a three‑bedroom layout
- Approximately 5 minutes from Sacred Heart University
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
$26,748
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%
$534,960
$535.0K
Cap Rate 7%
$382,114
$382.1K
Cap Rate 9%
$297,200
$297.2K
Market Conditions
NOI Build-Up for 2,064 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
$40.9K $19.80/SF
− Vacancy
−$2.7K −$1.29/SF
EGI
$38.2K $18.51/SF
− OpEx
−$11.5K −$5.55/SF
NOI
$26.7K $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%
$534,960
Cap Rate 7%
$382,114
Cap Rate 9%
$297,200
Alternative Uses
Best Use
Multifamily LT 5
$382.1K
$334.4K – $445.8K
NOI $26,748 @ 7.0% cap · market cap 4.69%
Second Best
Apartment 5plus
$346.8K
$303.5K – $404.6K
NOI $24,278 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$589.1K
$515.5K – $687.3K
NOI $41,238 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,151
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 - Two residential units offer full-unit or room-by-room leasing flexibility, with off-street parking for occupants.
Where is this duplex located?
The property is located at 509 Westfield Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $569,990.
What are key features of this property?
This property features: 2,064‑square‑foot duplex built in 1978; Two units, each with a three‑bedroom layout; Approximately 5 minutes from Sacred Heart University
