Three-Unit Property with Detached
New
For Sale
$725,000
51-53 Wade Street, Bridgeport, CT 06606
Three-family property with a renovated second-floor unit and laundry hookups.
Property Size1,930 SF
Price / SF$210.69
Days on Market7
Property Features for 51-53 Wade Street
General Information
Standard status
Active
Size
1,930 SF
Total Parking Spaces
2
Property subtype
3 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Amenities
washer/dryer hookups
Building Details
Building Size
1,930 SF
Year Built
1930
Listing Agency:
Century 21 AllPoints Realty
(203) 646-7097
Listed By:
Deanna Ruggio · License #452508574
(203) 646-7097
Source:
Iverty
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 11 at 6:22AM
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 Century 21 AllPoints Realty
Investment Insights
Based on property information with market context.
Located at 51-53 Wade Street in Bridgeport, this 3,441-square-foot multifamily property contains three residential units, 6+ bedrooms, and 3 full bathrooms. Built in 1930, the property includes a detached two-car garage and a second-floor unit with renovations and washer and dryer hookups. Additional laundry hookups are available in the basement.
The property is near shopping, restaurants, hospitals, schools, parks, public transportation, and major highways. Sacred Heart University and the University of Bridgeport are also nearby, adding local relevance for faculty, healthcare professionals, and commuters.
The property is near shopping, restaurants, hospitals, schools, parks, public transportation, and major highways. Sacred Heart University and the University of Bridgeport are also nearby, adding local relevance for faculty, healthcare professionals, and commuters.
Key Highlights
- Three residential units with 6+ bedrooms and 3 full bathrooms
- 3,441 square feet on a property built in 1930
- Renovated second‑floor unit with washer and dryer hookups
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
$44,592
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
6.15%
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%
$891,840
$891.8K
Cap Rate 7%
$637,029
$637.0K
Cap Rate 9%
$495,467
$495.5K
Market Conditions
NOI Build-Up for 3,441 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
$68.1K $19.80/SF
− Vacancy
−$4.4K −$1.29/SF
EGI
$63.7K $18.51/SF
− OpEx
−$19.1K −$5.55/SF
NOI
$44.6K $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%
$891,840
Cap Rate 7%
$637,029
Cap Rate 9%
$495,467
Alternative Uses
Best Use
Multifamily LT 5
$637.0K
$557.4K – $743.2K
NOI $44,592 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$578.2K
$506.0K – $674.6K
NOI $40,476 @ 7.0% cap · market cap 5.58%
Theoretical Best
Office A
$982.1K
$859.4K – $1.15M
NOI $68,750 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
877
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?
Triplex - Three-family property with a renovated second-floor unit and laundry hookups.
Where is this triplex located?
The property is located at 51-53 Wade Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three residential units with 6+ bedrooms and 3 full bathrooms; 3,441 square feet on a property built in 1930; Renovated second‑floor unit with washer and dryer hookups
