Duplex with Finished Third
For Sale
$575,000
664-666 Iranistan Avenue, Bridgeport, CT 06604
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size3,635 SF
Lot Size0.12 Acres
Price / SF$158.18
Days on Market130
Property Features for 664-666 Iranistan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 6, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 4, Basement, Bedroom 5
Parking
2
Basement
Full, Unfinished
Lot features
Corner Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS friendly
Subdivision
West End
Standard status
Active
Size
3,635 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
7461
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
solar panels
Building Details
Year built
1900
Architectural style
Other
Listing Agency:
US Asset Realty
(800) 913-1936
Listed By:
Angela Nieto
(203) 545-5090
Added: Apr 30
Changed: Sep 2
Last Checked: Sep 6 at 2:06AM
MLS# 24170733
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,635-square-foot duplex, built in 1900, includes two residential units with two bedrooms in each. Both layouts provide living and dining rooms, a full bathroom, and hardwood flooring. The finished third floor adds two more bedrooms and a bonus room that can serve as flexible living space. The property is being sold AS-IS, and solar panels transfer to the buyer.
Situated at 664-666 Iranistan Avenue in Bridgeport, the property is near schools, public transportation, major highways, and commuting routes. Public water and public sewer serve the property, which is zoned RC. The lot encompasses 0.12 acres. Appointments require 24 hours’ advance notice.
Situated at 664-666 Iranistan Avenue in Bridgeport, the property is near schools, public transportation, major highways, and commuting routes. Public water and public sewer serve the property, which is zoned RC. The lot encompasses 0.12 acres. Appointments require 24 hours’ advance notice.
Key Highlights
- Two‑family duplex with 3,635 square feet of building area
- Each unit includes 2 bedrooms, living room, dining room, and full bathroom
- Finished third floor contains 2 additional bedrooms and a bonus room
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 residential units offer two bedrooms, living and dining areas, full bathrooms, and hardwood flooring throughout.
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 duplex with 3,635 square feet of building area; Each unit includes 2 bedrooms, living room, dining room, and full bathroom; Finished third floor contains 2 additional bedrooms and a bonus room
