Turnkey Two-Family
651 Iranistan Avenue Bridgeport, CT 06605
651 Iranistan Avenue, Bridgeport, CT, 06605
$459,990
For Sale
$459,990
Turnkey 2-family with a renovated 1-bedroom first unit and a 3-bedroom upper unit, plus newer furnace and water heaters.
Property Size1,958 SF
Price / SF$234.93
Days on Market65
Property Features for 651 Iranistan Avenue
General Information
- Standard status
- Active
- Size
- 1,958 SF
- Property subtype
- Multi-Family / 2 Family
Building Details
- Year Built
- 1887
Listing agency
Sailpoint Property Group
(203) 314-3890
Listed by
Joseph Caslin · License #RES.0834593
(203) 314-3890
Source
Compass
Added: May 19 Updated: Jul 21 at 4:56AM Checked: Jul 21 at 4:56AM
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 Sailpoint Property Group
Investment Insights
Based on property information with market context.
This turnkey two-family residence is set up for rental income with a practical, split configuration. The first-floor unit features a spacious 1-bedroom layout with a renovated kitchen, an updated bathroom, and newer flooring. The upper-level unit offers a generous 3-bedroom duplex-style arrangement. Major improvements include a newer furnace and newer water heaters.
The property is located in Bridgeport, with convenient access to downtown, shopping, restaurants, public transportation, major highways, and local amenities including a library and nearby beaches/parks.
With separate units and supported updates to key mechanical systems, the building is designed to provide comfortable, ready-to-occupy living space for a range of ownership and rental strategies.
The property is located in Bridgeport, with convenient access to downtown, shopping, restaurants, public transportation, major highways, and local amenities including a library and nearby beaches/parks.
With separate units and supported updates to key mechanical systems, the building is designed to provide comfortable, ready-to-occupy living space for a range of ownership and rental strategies.
Key Highlights
- 2‑family property at 651 Iranistan Avenue, built in 1887
- First‑floor 1‑bedroom unit with renovated kitchen, updated bathroom, and newer flooring
- Upper‑level duplex with a 3‑bedroom layout
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.8k | $19.80 |
| − Vacancy | −$2.5k | −$1.29 |
| EGI | $36.2k | $18.51 |
| − OpEx | −$10.9k | −$5.55 |
| NOI | $25.4k | $12.96 |
1,958 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$362.5K
$317.2K – $422.9K
NOI $25,374 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$329.0K
$287.9K – $383.9K
NOI $23,032 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$558.9K
$489.0K – $652.0K
NOI $39,120 @ 7.0% cap · market cap 8.50%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Turnkey 2-family with a renovated 1-bedroom first unit and a 3-bedroom upper unit, plus newer furnace and water heaters.
Where is this duplex located?
The property is located at 651 Iranistan Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $459,990.
What are key features of this property?
This property features: 2‑family property at 651 Iranistan Avenue, built in 1887; First‑floor 1‑bedroom unit with renovated kitchen, updated bathroom, and newer flooring; Upper‑level duplex with a 3‑bedroom layout
