Six-Unit Apartment
For Sale
$1,200,000
626 Stillman Street, Bridgeport, CT 06608
Built in 1989 and fully occupied on month-to-month terms, this vinyl-sided six-unit offers separate utilities and off-street parking.
Property Size4,500 SF
Price / SF$266.67
Days on Market84
Property Features for 626 Stillman Street
General Information
Standard status
Active
Size
4,500 SF
Total Parking Spaces
6
Property subtype
5 Family+
Occupancy
100%
Additional Details
Multifamily Units
6
Building Details
Year Built
1989
Stories
3
Tenancy
Multi
Listing Agency:
YellowBrick Real Estate LLC
Listed By:
Patricia Anekwe
(203) 726-4609
Source:
Lockandkeyre
Added: Jun 16
Changed: Sep 6
Last Checked: Sep 6 at 6:38AM
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 YellowBrick Real Estate LLC
Investment Insights
Based on property information with market context.
Built in 1989, this fully occupied six-unit apartment building features vinyl siding for low-maintenance exterior care. The roof was replaced in 2020, and the property is configured with three apartments on each side of the building using the same layout. Each unit has its own separate utility service with separate meters, supporting independent tenant billing. Water heaters for the first-floor apartments are located in the basement, while the second- and third-floor apartment water heaters are located inside each apartment.
Located on the East Side of Bridgeport on Stillman St, the building sits across from a charter school and close to a public school. Off-street parking is provided for all six units in the back of the house. Transit scores indicate some transit access, and the walkability is rated very walkable.
With month-to-month occupancy, consistent unit configuration, and in-building utility separation, the property is designed for straightforward day-to-day management.
Located on the East Side of Bridgeport on Stillman St, the building sits across from a charter school and close to a public school. Off-street parking is provided for all six units in the back of the house. Transit scores indicate some transit access, and the walkability is rated very walkable.
With month-to-month occupancy, consistent unit configuration, and in-building utility separation, the property is designed for straightforward day-to-day management.
Key Highlights
- 6‑unit multifamily building built in 1989 and fully occupied on month‑to‑month terms
- Roof replacement in 2020
- Vinyl siding for easy maintenance
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
$52,933
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
4.41%
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%
$1,058,660
$1.1M
Cap Rate 7%
$756,186
$756.2K
Cap Rate 9%
$588,144
$588.1K
Market Conditions
NOI Build-Up for 4,500 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
$101.5K $22.56/SF
− Vacancy
−$5.3K −$1.17/SF
EGI
$96.2K $21.39/SF
− OpEx
−$43.3K −$9.62/SF
NOI
$52.9K $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%
$1,058,660
Cap Rate 7%
$756,186
Cap Rate 9%
$588,144
Alternative Uses
Best Use
Apartment 5plus
$756.2K
$661.7K – $882.2K
NOI $52,933 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,908 @ 7.0% cap · market cap 7.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,788
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?
Apartment building - Built in 1989 and fully occupied on month-to-month terms, this vinyl-sided six-unit offers separate utilities and off-street parking.
Where is this apartment building located?
The property is located at 626 Stillman Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6‑unit multifamily building built in 1989 and fully occupied on month‑to‑month terms; Roof replacement in 2020; Vinyl siding for easy maintenance
