Renovated Multifamily
For Sale
$689,000
550 Laurel Ave, Bridgeport, CT 06605
Recent interior upgrades and resurfaced parking support this income-producing residential property.
Property Size3,569 SF
Price / SF$193.05
Days on Market50
Property Features for 550 Laurel Ave
General Information
Standard status
Active
Size
3,569 SF
Total Parking Spaces
3
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,229
Building Details
Year Renovated
2024
Listing Agency:
eRealty Advisors, Inc.
(646) 715-7821
Listed By:
Sonia C. Zumba · License #RES.0827829
(646) 715-7821
Source:
Exprealty
Added: Jul 7
Changed: Aug 20
Last Checked: Aug 24 at 10:45AM
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 eRealty Advisors, Inc.
Investment Insights
Based on property information with market context.
This multifamily property at 550 Laurel Ave includes substantial interior improvements completed during 2023 and 2024. Renovations include refreshed bathrooms, modernized kitchens, refinished flooring, and multiple replacement windows. The exterior parking area has also been resurfaced and accommodates 2 to 3 vehicles.
The property is situated near shopping, restaurants, schools, parks, public transportation, and major highways in Bridgeport, CT. It is offered for sale in its current AS IS condition.
The property is situated near shopping, restaurants, schools, parks, public transportation, and major highways in Bridgeport, CT. It is offered for sale in its current AS IS condition.
Key Highlights
- Multifamily property at 550 Laurel Ave, Bridgeport, CT
- Improvements completed between 2023 and 2024
- Bathrooms and kitchens have been renovated
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
$41,981
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
6.09%
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%
$839,620
$839.6K
Cap Rate 7%
$599,729
$599.7K
Cap Rate 9%
$466,456
$466.5K
Market Conditions
NOI Build-Up for 3,569 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
$80.5K $22.56/SF
− Vacancy
−$4.2K −$1.17/SF
EGI
$76.3K $21.39/SF
− OpEx
−$34.3K −$9.62/SF
NOI
$42.0K $11.76/SF
Area
Bridgeport, CT
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$839,620
Cap Rate 7%
$599,729
Cap Rate 9%
$466,456
Alternative Uses
Best Use
Apartment 5plus
$599.7K
$524.8K – $699.7K
NOI $41,981 @ 7.0% cap · market cap 6.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.3K – $1.19M
NOI $71,307 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,315
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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?
Multifamily property - Recent interior upgrades and resurfaced parking support this income-producing residential property.
Where is this multifamily property located?
The property is located at 550 Laurel Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $689,000.
What are key features of this property?
This property features: Multifamily property at 550 Laurel Ave, Bridgeport, CT; Improvements completed between 2023 and 2024; Bathrooms and kitchens have been renovated
