Duplex with Finished Third-Floor
For Sale
$619,000
8 Jetland Place, Bridgeport, CT 06605
Two-unit income property with upgraded second-floor interiors, driveway parking, and basement laundry hookups.
Property Size2,328 SF
Price / SF$265.89
Days on Market194
Property Features for 8 Jetland Place
General Information
Standard status
Active
Size
2,328 SF
Property subtype
Multi-Family / 2 Family
Zoning
RB
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$10,253
Amenities
driveway parking
washer/dryer hookups
Yes
Hot Water
13
Window Unit
Heated, Finished, Floored, Walk-up
2nd Floor and Basement
Not Applicable
Building Details
Year Built
1907
Listing Agency:
BHGRE Gaetano Marra Homes
(203) 505-0421
Listed By:
Eric Garces · License #RES.0820893
(203) 505-0421
Source:
Compass
Added: Feb 18
Changed: Aug 29
Last Checked: Aug 31 at 12:57AM
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 BHGRE Gaetano Marra Homes
Investment Insights
Based on property information with market context.
This 2,328-square-foot duplex, built in 1907, is currently fully rented and includes a finished third-floor living area with a kitchenette and bathroom. Recent work includes a remodeled kitchen, updated bathroom and flooring in the second-floor unit, replacement hot water heaters, refreshed landscaping, and improvements to the front porch. Washer and dryer hookups are available on the second floor, with additional connections in the shared basement.
The property is zoned RB and includes driveway parking. Its Bridgeport setting places it near Harborview Market, Fairfield Avenue restaurants, and St. Mary’s By the Sea. Two units are reported at or near market rent, while one is below market. The second-floor photographs predate the current tenancy and subsequent occupant-related improvements.
The property is zoned RB and includes driveway parking. Its Bridgeport setting places it near Harborview Market, Fairfield Avenue restaurants, and St. Mary’s By the Sea. Two units are reported at or near market rent, while one is below market. The second-floor photographs predate the current tenancy and subsequent occupant-related improvements.
Key Highlights
- 2,328 SF duplex on a 0.05‑acre lot, built in 1907
- Finished third‑floor living area with kitchenette and bathroom
- Second‑floor kitchen, bathroom, and flooring improvements
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
$30,169
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
4.87%
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%
$603,380
$603.4K
Cap Rate 7%
$430,986
$431.0K
Cap Rate 9%
$335,211
$335.2K
Market Conditions
NOI Build-Up for 2,328 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
$46.1K $19.80/SF
− Vacancy
−$3.0K −$1.29/SF
EGI
$43.1K $18.51/SF
− OpEx
−$12.9K −$5.55/SF
NOI
$30.2K $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%
$603,380
Cap Rate 7%
$430,986
Cap Rate 9%
$335,211
Alternative Uses
Best Use
Multifamily LT 5
$431.0K
$377.1K – $502.8K
NOI $30,169 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$391.2K
$342.3K – $456.4K
NOI $27,384 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$664.5K
$581.4K – $775.2K
NOI $46,512 @ 7.0% cap · market cap 7.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,131
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit income property with upgraded second-floor interiors, driveway parking, and basement laundry hookups.
Where is this duplex located?
The property is located at 8 Jetland Place Bridgeport, CT.
What is the asking price?
The asking price for this property is $619,000.
What are key features of this property?
This property features: 2,328 SF duplex on a 0.05‑acre lot, built in 1907; Finished third‑floor living area with kitchenette and bathroom; Second‑floor kitchen, bathroom, and flooring improvements
