Two-Unit Residential Income
For Sale
$575,000
664-666 Iranistan Avenue, Bridgeport, CT 06604
Two 2-bedroom, 1-bath units with hardwood floors plus a finished attic are offered for sale, AS-IS.
Property Size3,635 SF
Price / SF$158.18
Days on Market132
Property Features for 664-666 Iranistan Avenue
General Information
Standard status
Active
Size
3,635 SF
Property subtype
2 Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
US Asset Realty
Listed By:
Angela Nieto
(203) 545-5090
Source:
Lockandkeyre
Added: Apr 28
Changed: Sep 4
Last Checked: Sep 5 at 6:52AM
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 US Asset Realty
Investment Insights
Based on property information with market context.
This two-unit residential income property features two spacious units, each with 2 bedrooms and 1 full bathroom, with hardwood floors throughout. A finished attic provides additional living space. The property is being sold AS-IS.
The property is conveniently located near schools, major highways, and public transportation.
Each unit offers a straightforward, live-and-rent configuration with the same 2-bedroom, 1-bath layout, supported by the shared interior finishes described in the offering.
The property is conveniently located near schools, major highways, and public transportation.
Each unit offers a straightforward, live-and-rent configuration with the same 2-bedroom, 1-bath layout, supported by the shared interior finishes described in the offering.
Key Highlights
- Two‑family home built in 1900 with two separate units
- Each unit offers 2 bedrooms and 1 full bathroom
- Hardwood floors run throughout both units
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
$47,106
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
8.19%
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%
$942,120
$942.1K
Cap Rate 7%
$672,943
$672.9K
Cap Rate 9%
$523,400
$523.4K
Market Conditions
NOI Build-Up for 3,635 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
$72.0K $19.80/SF
− Vacancy
−$4.7K −$1.29/SF
EGI
$67.3K $18.51/SF
− OpEx
−$20.2K −$5.55/SF
NOI
$47.1K $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%
$942,120
Cap Rate 7%
$672,943
Cap Rate 9%
$523,400
Alternative Uses
Best Use
Multifamily LT 5
$672.9K
$588.8K – $785.1K
NOI $47,106 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$610.8K
$534.5K – $712.6K
NOI $42,758 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$1.04M
$907.8K – $1.21M
NOI $72,626 @ 7.0% cap · market cap 12.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,854
Businesses Nearby
Explore this area
Business Placement
Demographics for 06604, CT
30,003
Population
12,972
Households
2.3
Avg Household Size
35
Median Age
29%
College-Educated
74%
High-School Grad
3.2 sq mi
ZIP Area
9,376
Density / Sq Mi
$45,794
Median Household Income
$34,706
Median Earnings
$1,419
Median Rent
$231,300
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 2-bedroom, 1-bath units with hardwood floors plus a finished attic are offered for sale, AS-IS.
Where is this duplex located?
The property is located at 664-666 Iranistan Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Two‑family home built in 1900 with two separate units; Each unit offers 2 bedrooms and 1 full bathroom; Hardwood floors run throughout both units
