Two-Family Property with Finished
For Sale
$499,900
64-66 Hill St, Bridgeport, CT 06606
Two residential units offer established occupancy and additional finished attic space on the upper level.
Property Size2,452 SF
Price / SF$203.87
Days on Market8
Property Features for 64-66 Hill St
General Information
Standard status
Active
Size
2,452 SF
Property subtype
Multi-Family
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1918
Buildings
1
Listing Agency:
Carrena Property Mgmt & Realty
Listed By:
Chris Carrena (203) 258-6995 (203) 258-6995
(203) 258-6995
Source:
Fairfieldcountycthomesearch
Added: Sep 7
Changed: Sep 13
Last Checked: Sep 13 at 11:50AM
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 Carrena Property Mgmt & Realty
Investment Insights
Based on property information with market context.
This two-family property, built in 1918, includes a first-floor residence with two bedrooms, one full bathroom, a kitchen, and combined living and dining areas. A second legal two-bedroom apartment occupies the upper floor and includes separate living, dining, and kitchen spaces, along with access to a finished third-floor attic currently used for additional bedroom and living space. The first-floor residence has been occupied by the same tenant for over 20 years.
The property is situated on a dead-end street near North Avenue and Boston Avenue. The surrounding area provides access to restaurants, shopping, public transportation, and major highways. Zoning is ILI. The adjoining two-family property at 74-76 Hill Street is also offered for sale and may be acquired with this property as a package.
The property is situated on a dead-end street near North Avenue and Boston Avenue. The surrounding area provides access to restaurants, shopping, public transportation, and major highways. Zoning is ILI. The adjoining two-family property at 74-76 Hill Street is also offered for sale and may be acquired with this property as a package.
Key Highlights
- Two‑family property built in 1918
- First‑floor unit with 2 bedrooms and 1 full bathroom
- Second‑floor legal 2‑bedroom apartment
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
$31,776
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
6.36%
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%
$635,520
$635.5K
Cap Rate 7%
$453,943
$453.9K
Cap Rate 9%
$353,067
$353.1K
Market Conditions
NOI Build-Up for 2,452 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
$48.5K $19.80/SF
− Vacancy
−$3.2K −$1.29/SF
EGI
$45.4K $18.51/SF
− OpEx
−$13.6K −$5.55/SF
NOI
$31.8K $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%
$635,520
Cap Rate 7%
$453,943
Cap Rate 9%
$353,067
Alternative Uses
Best Use
Multifamily LT 5
$453.9K
$397.2K – $529.6K
NOI $31,776 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$412.0K
$360.5K – $480.7K
NOI $28,842 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$699.9K
$612.4K – $816.5K
NOI $48,990 @ 7.0% cap · market cap 9.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,169
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer established occupancy and additional finished attic space on the upper level.
Where is this duplex located?
The property is located at 64-66 Hill St 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: Two‑family property built in 1918; First‑floor unit with 2 bedrooms and 1 full bathroom; Second‑floor legal 2‑bedroom apartment
