Charming Triplex Across Washington
For Sale
$515,000
584 Kossuth Street, Bridgeport, CT 06608
Three-family property in Bridgeport's Historic East Side.
Property Size2,716 SF
Days on Market168
Property Features for 584 Kossuth Street
General Information
Standard status
Active
Size
2,716 SF
Property subtype
3 Family
Taxes and HOA fees
Annual Taxes
$6,778
Building Details
Building Size
2,716 SF
Year Built
1877
Listing Agency:
Lamacchia Realty
Listed By:
Kathy Dattilo
(203) 494-9611
Source:
Higginsgroup
Added: Mar 24
Changed: Sep 6
Last Checked: Sep 6 at 10:23AM
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 Lamacchia Realty
Investment Insights
Based on property information with market context.
This three-family property is located in the Historic East Side of Bridgeport, directly across from Washington Park. Situated on a tree-lined street, this residence offers a blend of urban convenience and neighborhood appeal. Each of the three units occupies its own floor and includes 2 bedrooms and 1 full bathroom. The first-floor unit is currently available for immediate occupancy or rental. The second and third-floor units are occupied on a month-to-month basis. Units 1 and 3 are equipped with electric hot water tanks, while Unit 2 features a gas tankless, on-demand system. This property is the left-side unit of a well-maintained triplex, presenting an opportunity for both owner-occupants and investors.
Key Highlights
- Prime location directly across from Washington Park in Bridgeport's Historic East Side.
- Spacious living in three separate units, each with 2 bedrooms and 1 full bathroom.
- First‑floor unit is currently vacant, offering immediate occupancy or rental income.
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
$35,197
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
6.83%
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%
$703,940
$703.9K
Cap Rate 7%
$502,814
$502.8K
Cap Rate 9%
$391,078
$391.1K
Market Conditions
NOI Build-Up for 2,716 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
$53.8K $19.80/SF
− Vacancy
−$3.5K −$1.29/SF
EGI
$50.3K $18.51/SF
− OpEx
−$15.1K −$5.55/SF
NOI
$35.2K $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%
$703,940
Cap Rate 7%
$502,814
Cap Rate 9%
$391,078
Alternative Uses
Best Use
Multifamily LT 5
$502.8K
$440.0K – $586.6K
NOI $35,197 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$456.4K
$399.4K – $532.5K
NOI $31,948 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$775.2K
$678.3K – $904.4K
NOI $54,264 @ 7.0% cap · market cap 10.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,656
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
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 in Bridgeport's Historic East Side.
Where is this triplex located?
The property is located at 584 Kossuth Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Prime location directly across from Washington Park in Bridgeport's Historic East Side.; Spacious living in three separate units, each with 2 bedrooms and 1 full bathroom.; First‑floor unit is currently vacant, offering immediate occupancy or rental income.
