Renovated Triplex with In-Unit
For Sale
$599,000
743 Iranistan Ave, Bridgeport, CT 06605
Each of the three units includes its own washer and dryer.
Property Size3,010 SF
Price / SF$199
Days on Market12
Property Features for 743 Iranistan Ave
General Information
Standard status
Active
Size
3,010 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
washer and dryer
Building Details
Year Built
1897
Listing Agency:
Ideal Real Estate, Inc.
Listed By:
Sebastian Campos (914) 649-1065
(914) 649-1065
Source:
Sunsetcreekrealty
Added: Aug 23
Changed: Sep 1
Last Checked: Sep 2 at 6:26PM
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 Ideal Real Estate, Inc.
Investment Insights
Based on property information with market context.
This three-unit multifamily property was built in 1897 and includes separate laundry equipment for every unit. The second and third apartments have been fully renovated, while the first and third units are currently occupied by tenants. A driveway completed in July adds a recent site improvement.
The property is located at 743 Iranistan Ave in Bridgeport, Connecticut. Its three-unit configuration combines updated interiors in two apartments with established rental occupancy in the first and third units.
The property is located at 743 Iranistan Ave in Bridgeport, Connecticut. Its three-unit configuration combines updated interiors in two apartments with established rental occupancy in the first and third units.
Key Highlights
- Three‑unit multifamily property at 743 Iranistan Ave, Bridgeport, CT 06605
- Second and third units recently fully renovated
- Washer and dryer provided in each of the three 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
$39,007
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
6.51%
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%
$780,140
$780.1K
Cap Rate 7%
$557,243
$557.2K
Cap Rate 9%
$433,411
$433.4K
Market Conditions
NOI Build-Up for 3,010 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
$59.6K $19.80/SF
− Vacancy
−$3.9K −$1.29/SF
EGI
$55.7K $18.51/SF
− OpEx
−$16.7K −$5.55/SF
NOI
$39.0K $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%
$780,140
Cap Rate 7%
$557,243
Cap Rate 9%
$433,411
Alternative Uses
Best Use
Multifamily LT 5
$557.2K
$487.6K – $650.1K
NOI $39,007 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$505.8K
$442.6K – $590.1K
NOI $35,406 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$859.1K
$751.7K – $1.00M
NOI $60,138 @ 7.0% cap · market cap 10.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,854
Businesses Nearby
Explore this area
Business Placement
Demographics for 06605, CT
23,867
Population
10,799
Households
2.2
Avg Household Size
35
Median Age
33%
College-Educated
80%
High-School Grad
2.3 sq mi
ZIP Area
10,377
Density / Sq Mi
$59,673
Median Household Income
$40,276
Median Earnings
$1,423
Median Rent
$273,100
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?
Triplex - Each of the three units includes its own washer and dryer.
Where is this triplex located?
The property is located at 743 Iranistan Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Three‑unit multifamily property at 743 Iranistan Ave, Bridgeport, CT 06605; Second and third units recently fully renovated; Washer and dryer provided in each of the three units
