Fully Remodeled Two-Family
For Sale
$599,990
75 Commercial Street, Bridgeport, CT 06606
Two renovated units with updated kitchens, remodeled baths, and major systems including roof, water heaters, and furnaces.
Property Size1,652 SF
Days on Market43
Property Features for 75 Commercial Street
General Information
Standard status
Active
Size
1,652 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,314
Building Details
Building Size
1,652 SF
Year Built
1910
Tenancy
Multi
Listing Agency:
Ki Property Group
(203) 668-2124
Listed By:
Alvaro Tomas Baptista
(203) 668-2124
Source:
Higginsgroup
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 31 at 12:43AM
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 Ki Property Group
Investment Insights
Based on property information with market context.
This fully remodeled two-family property at 75 Commercial St offers two comfortable, updated living spaces. Both units have been renovated from top to bottom with new flooring, updated kitchens featuring brand-new appliances and quartz countertops, and remodeled bathrooms. Major improvements include a new roof, new water heaters, and new furnaces. The layout includes nicely sized bedrooms and spacious living areas with plenty of natural light, along with a nice-sized yard.
The property is described as very walkable with some transit access and a bike score of 52. It is positioned as move-in ready with extensive updates for an owner-occupant or investor seeking a turnkey two-family home.
With comprehensive renovations and recent system replacements across the building, this residence is presented as ready to occupy while supporting ongoing income potential from both units.
The property is described as very walkable with some transit access and a bike score of 52. It is positioned as move-in ready with extensive updates for an owner-occupant or investor seeking a turnkey two-family home.
With comprehensive renovations and recent system replacements across the building, this residence is presented as ready to occupy while supporting ongoing income potential from both units.
Key Highlights
- Fully remodeled two‑family home built in 1910 with two updated units
- Both units feature new flooring, updated kitchens with brand‑new appliances and quartz countertops, and remodeled bathrooms
- Major system upgrades include a new roof, new water heaters, and new furnaces
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
$21,408
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
3.57%
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%
$428,160
$428.2K
Cap Rate 7%
$305,829
$305.8K
Cap Rate 9%
$237,867
$237.9K
Market Conditions
NOI Build-Up for 1,652 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
$32.7K $19.80/SF
− Vacancy
−$2.1K −$1.29/SF
EGI
$30.6K $18.51/SF
− OpEx
−$9.2K −$5.55/SF
NOI
$21.4K $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%
$428,160
Cap Rate 7%
$305,829
Cap Rate 9%
$237,867
Alternative Uses
Best Use
Multifamily LT 5
$305.8K
$267.6K – $356.8K
NOI $21,408 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$277.6K
$242.9K – $323.9K
NOI $19,432 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$471.5K
$412.6K – $550.1K
NOI $33,006 @ 7.0% cap · market cap 5.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 06606, CT
48,427
Population
19,002
Households
2.5
Avg Household Size
36
Median Age
23%
College-Educated
82%
High-School Grad
5.3 sq mi
ZIP Area
9,137
Density / Sq Mi
$68,538
Median Household Income
$35,128
Median Earnings
$1,434
Median Rent
$272,100
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 renovated units with updated kitchens, remodeled baths, and major systems including roof, water heaters, and furnaces.
Where is this duplex located?
The property is located at 75 Commercial Street Bridgeport, CT.
What is the asking price?
The asking price for this property is $599,990.
What are key features of this property?
This property features: Fully remodeled two‑family home built in 1910 with two updated units; Both units feature new flooring, updated kitchens with brand‑new appliances and quartz countertops, and remodeled bathrooms; Major system upgrades include a new roof, new water heaters, and new furnaces
