Two-Unit Duplex with
New
For Sale
$595,000
76-78 Suburban Avenue, Bridgeport, CT 06604
Each apartment has two bedrooms, one full bath, and separate laundry arrangements.
Property Size1,918 SF
Days on Market2
Property Features for 76-78 Suburban Avenue
General Information
Standard status
Active
Size
1,918 SF
Property subtype
2 Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,766
Amenities
washer/dryer
Building Details
Building Size
1,918 SF
Year Built
1912
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Ralph Lewis · License #RES.0794961
(203) 610-9670
Source:
Higginsgroup
Added: Sep 26
Last Checked: Sep 26 at 5:13AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This two-unit residential property contains a pair of two-bedroom, one-bath apartments. Laundry is provided for both units: the first-floor apartment has a washer and dryer in the basement, while the second-floor apartment has its own in-unit set. The property was built in 1912 and is zoned RA. City water, city sewer, natural gas, and off-street parking serve the building.
The first-floor apartment is occupied, and the second-floor apartment is vacant. The property is in Bridgeport’s North End, near the Fairfield town line and Sacred Heart University. Access to the Merritt Parkway and I-95, along with nearby shopping, restaurants, public transportation, and two public golf courses, is noted.
The first-floor apartment is occupied, and the second-floor apartment is vacant. The property is in Bridgeport’s North End, near the Fairfield town line and Sacred Heart University. Access to the Merritt Parkway and I-95, along with nearby shopping, restaurants, public transportation, and two public golf courses, is noted.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- First‑floor unit rented; second‑floor unit vacant
- Washer and dryer in basement for first‑floor unit; in‑unit laundry upstairs
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
$24,856
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
4.18%
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%
$497,120
$497.1K
Cap Rate 7%
$355,086
$355.1K
Cap Rate 9%
$276,178
$276.2K
Market Conditions
NOI Build-Up for 1,918 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
$38.0K $19.80/SF
− Vacancy
−$2.5K −$1.29/SF
EGI
$35.5K $18.51/SF
− OpEx
−$10.7K −$5.55/SF
NOI
$24.9K $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%
$497,120
Cap Rate 7%
$355,086
Cap Rate 9%
$276,178
Alternative Uses
Best Use
Multifamily LT 5
$355.1K
$310.7K – $414.3K
NOI $24,856 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$322.3K
$282.0K – $376.0K
NOI $22,561 @ 7.0% cap · market cap 3.79%
Theoretical Best
Office A
$547.4K
$479.0K – $638.7K
NOI $38,321 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
617
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 - Each apartment has two bedrooms, one full bath, and separate laundry arrangements.
Where is this duplex located?
The property is located at 76-78 Suburban Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; First‑floor unit rented; second‑floor unit vacant; Washer and dryer in basement for first‑floor unit; in‑unit laundry upstairs
