Duplex with Newer Asphalt
For Sale
$399,900
Pending
593 Wayne Street, Bridgeport, CT 06606
Two-unit layout includes an occupied upper residence and a lower unit suited to owner use or leasing.
Property Size1,812 SF
Days on Market148
Property Features for 593 Wayne Street
General Information
Standard status
Pending
Size
1,812 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1914
Listing Agency:
Berkshire Hathaway NE Prop.
(203) 331-3195
Listed By:
Barbara Yaworowski
(203) 331-3195
Source:
Lockandkeyre
Added: Apr 6
Changed: Aug 30
Last Checked: Aug 30 at 2:12AM
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 Berkshire Hathaway NE Prop.
Investment Insights
Based on property information with market context.
This two-family duplex contains 1,812 square feet with a total of 4 bedrooms and 2 full bathrooms. The property has an asphalt roof approximately 3 years old. The second-floor unit is occupied by a tenant, while the first-floor unit can support owner occupancy or additional rental use.
The property is located near shopping, dining, local amenities, and major transportation routes in Bridgeport. A shared driveway serves the building.
The property is located near shopping, dining, local amenities, and major transportation routes in Bridgeport. A shared driveway serves the building.
Key Highlights
- 1,812‑square‑foot two‑family duplex
- 4 bedrooms and 2 full bathrooms across the property
- Asphalt roof approximately 3 years old
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
$23,482
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
5.87%
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%
$469,640
$469.6K
Cap Rate 7%
$335,457
$335.5K
Cap Rate 9%
$260,911
$260.9K
Market Conditions
NOI Build-Up for 1,812 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
$35.9K $19.80/SF
− Vacancy
−$2.3K −$1.29/SF
EGI
$33.5K $18.51/SF
− OpEx
−$10.1K −$5.55/SF
NOI
$23.5K $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%
$469,640
Cap Rate 7%
$335,457
Cap Rate 9%
$260,911
Alternative Uses
Best Use
Multifamily LT 5
$335.5K
$293.5K – $391.4K
NOI $23,482 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$304.5K
$266.4K – $355.2K
NOI $21,314 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$517.2K
$452.5K – $603.4K
NOI $36,203 @ 7.0% cap · market cap 9.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,287
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-unit layout includes an occupied upper residence and a lower unit suited to owner use or leasing.
Where is this duplex located?
The property is located at 593 Wayne Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1,812‑square‑foot two‑family duplex; 4 bedrooms and 2 full bathrooms across the property; Asphalt roof approximately 3 years old
