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    Two-Family Plus Finished Third Floor Title is generated by Realmo AI

    510 Park Street, Bridgeport, CT 06608

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    For Sale
    $499,900

    MULTI_FAMILY - Bridgeport, CT

    Property size:
    3,082 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $162/SF
    Added:
    May 30, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for 510 Park Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RC
    Bedrooms
    6
    Bathrooms
    3
    Rooms
    Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 2, Bedroom 2, Bedroom 6, Bathroom 3, Basement
    Parking
    4
    Basement
    Unfinished, Full
    Standard status
    Active
    Size
    3,082 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Annual Amount
    6545

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1901
    Architectural style
    Other

    We can help!

    Listing Contact
    Margo Lopez

    Listing agent Margo Lopez License #RES.0811262

    Listing office US Asset Realty 611 Access Road, Stratford, CT

    Listing date May 30, 2026

    MLS# 24179321 Listing URL

    Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Legal 2‑family on Bridgeport’s East Side with over 3,000 sq ft of legal living space
    • Includes a legally finished third‑floor living area with 2 bedrooms and 1 full bathroom
    • Public water and public sewer
    • Newer roof and off‑street parking
    • Original hardwood flooring beneath much of the current flooring
    • Owner occupied for the past 36 years; in need of cosmetic updating

    Overview

    This legal two-family property includes a legally finished third-floor living area, adding flexibility for an owner occupant or an investor. The home provides substantial total legal living space, including a third-floor unit with two bedrooms and one full bathroom. Interior details include original hardwood flooring beneath much of the current flooring, and the property is described as having a newer roof. While the home is in need of cosmetic updating, it has been maintained over time, with the owner occupied for the past 36 years.

    The property is located at 510 Park Street on Bridgeport’s East Side. The listing notes off-street parking, which can be a practical benefit for tenants and visitors in a residential income setting.

    For buyers considering multi-family ownership, this structure supports multiple living arrangements within the same building, including the added third-floor space. The combination of legal unit configuration, off-street parking, and durable building elements such as the newer roof may appeal to those looking to refresh finishes while preserving core features like hardwood flooring where it exists beneath current surfaces.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $61.0k $19.80
    − Vacancy −$4.0k −$1.29
    EGI $57.1k $18.51
    − OpEx −$17.1k −$5.55
    NOI $39.9k $12.96
    3,082 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $570.6K
    $499.3K – $665.7K (±1% cap)
    NOI $39,940 @ 7.0% cap · market cap 7.99%
    Second Best
    Apartment 5plus
    $517.9K
    $453.2K – $604.2K (±1% cap)
    NOI $36,253 @ 7.0% cap · market cap 7.25%
    Theoretical Best
    Office A
    $879.7K
    $769.7K – $1.03M (±1% cap)
    NOI $61,577 @ 7.0% cap · market cap 12.32%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bridgeport
    County
    Fairfield
    State
    Connecticut
    Longitude
    -73.182617
    Latitude
    41.194306

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    FAQs

    What type of property is this?
    Triplex - Legal two-family with an additional finished third-floor living area, offering off-street parking and over 3,000 sq. ft. total.
    Where is this triplex located?
    The property is located at 510 Park Street Bridgeport, CT.
    What is the asking price?
    The asking price for this property is $499,900.
    What are key features of this property?
    This property features: Legal 2‑family on Bridgeport’s East Side with over 3,000 sq ft of legal living space; Includes a legally finished third‑floor living area with 2 bedrooms and 1 full bathroom; Public water and public sewer
    (203) 464-5411
    We can help!
    Listing Contact
    Margo Lopez
    Real Estate License ID: RES.0811262
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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