Duplex with Newer
For Sale
$450,000
703-705 Connecticut Avenue, Bridgeport, CT 06607
Multi-Family For Sale, Units on different Floors, Bridgeport, CT
Property Size2,822 SF
Lot Size0.09 Acres
Price / SF$159.46
Days on Market34
Property Features for 703-705 Connecticut Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
ILI
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Basement, Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 5, Bedroom 6
Basement
Full, Unfinished
Lot features
Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
GPS
Standard status
Active
Size
2,822 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
6135
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1908
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 372-6996
Listed By:
Jaquan Jones · License #RES.0807642
(203) 568-5727
Added: Aug 1
Changed: Sep 2
Last Checked: Sep 3 at 3:06PM
MLS# 24196161
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 duplex at 703-705 Connecticut Avenue includes two residential units with a total of six bedrooms and two full bathrooms. The first floor contains two bedrooms and one bathroom, while the second- and third-floor arrangement provides four bedrooms and one bathroom. Built in 1908, the property has a newer roof and is offered in its existing condition. The lot measures 0.09 acres, with public water and public sewer service.
The Bridgeport property is located near I-95, shopping, schools, public transportation, downtown Bridgeport, and Metro-North rail service. Connecticut Avenue is also served by Greater Bridgeport Transit bus routes. The property carries ILI zoning.
The Bridgeport property is located near I-95, shopping, schools, public transportation, downtown Bridgeport, and Metro-North rail service. Connecticut Avenue is also served by Greater Bridgeport Transit bus routes. The property carries ILI zoning.
Key Highlights
- Two‑unit duplex with six bedrooms and two full bathrooms
- Bedroom and bathroom layout spans the first, second, and third floors
- Newer roof on a property built in 1908
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
$36,571
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
8.13%
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%
$731,420
$731.4K
Cap Rate 7%
$522,443
$522.4K
Cap Rate 9%
$406,344
$406.3K
Market Conditions
NOI Build-Up for 2,822 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
$55.9K $19.80/SF
− Vacancy
−$3.6K −$1.29/SF
EGI
$52.2K $18.51/SF
− OpEx
−$15.7K −$5.55/SF
NOI
$36.6K $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%
$731,420
Cap Rate 7%
$522,443
Cap Rate 9%
$406,344
Alternative Uses
Best Use
Multifamily LT 5
$522.4K
$457.1K – $609.5K
NOI $36,571 @ 7.0% cap · market cap 8.13%
Second Best
Apartment 5plus
$474.2K
$414.9K – $553.3K
NOI $33,195 @ 7.0% cap · market cap 7.38%
Theoretical Best
Office A
$805.5K
$704.8K – $939.7K
NOI $56,382 @ 7.0% cap · market cap 12.53%
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
1,723
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
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 are arranged across separate floors with public water and sewer service.
Where is this duplex located?
The property is located at 703-705 Connecticut Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex with six bedrooms and two full bathrooms; Bedroom and bathroom layout spans the first, second, and third floors; Newer roof on a property built in 1908
