Side-by-Side
New
For Sale
$385,900
86 Martin Luther King Drive, Bridgeport, CT 06608
The two-unit property includes six bedrooms and an existing tenant in one unit.
Property Size2,624 SF
Price / SF$147.07
Days on Market4
Property Features for 86 Martin Luther King Drive
General Information
Standard status
Active
Size
2,624 SF
Property subtype
2 Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,907
Building Details
Building Size
2,624 SF
Year Built
1999
Listing Agency:
RE/MAX Right Choice
Listed By:
Amy Rodriguez · License #RES.0775493
(203) 673-4465
Source:
Higginsgroup
Added: Oct 16
Last Checked: Oct 16 at 12:39PM
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 RE/MAX Right Choice
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1999, this duplex contains approximately 2,624 square feet arranged as two side-by-side units, with six bedrooms in total. One unit is occupied by a tenant, whose tenancy is to continue after closing. The property sits on land leased from the city; buyers should review the lease and confirm its transfer requirements. The sale is as-is, and the buyer is responsible for removing the contents and debris left at the property.
Key Highlights
- Two side‑by‑side units with six bedrooms total
- Approximately 2,624 square feet; built in 1999
- One unit is tenant occupied, and the tenancy will continue after closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,005
Cap Rate
8.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,100
$680.1K
Cap Rate 7%
$485,786
$485.8K
Cap Rate 9%
$377,833
$377.8K
Market Conditions
NOI Build-Up for 2,624 SF
Gross rent
$52.0K $19.80/SF
− Vacancy
−$3.4K −$1.29/SF
EGI
$48.6K $18.51/SF
− OpEx
−$14.6K −$5.55/SF
NOI
$34.0K $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 Rate 5%
$680,100
Cap Rate 7%
$485,786
Cap Rate 9%
$377,833
Alternative Uses
Best Use
Multifamily LT 5
$485.8K
$425.1K – $566.8K
NOI $34,005 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$440.9K
$385.8K – $514.4K
NOI $30,866 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$748.9K
$655.3K – $873.8K
NOI $52,426 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,826
Businesses Nearby
Explore this area
Business Placement
Demographics for 06608, CT
14,312
Population
4,915
Households
2.9
Avg Household Size
33
Median Age
7%
College-Educated
67%
High-School Grad
1.0 sq mi
ZIP Area
14,312
Density / Sq Mi
$43,008
Median Household Income
$30,524
Median Earnings
$1,311
Median Rent
$222,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - The two-unit property includes six bedrooms and an existing tenant in one unit.
Where is this duplex located?
The property is located at 86 Martin Luther King Drive Bridgeport, CT.
What is the asking price?
The asking price for this property is $385,900.
What are key features of this property?
This property features: Two side‑by‑side units with six bedrooms total; Approximately 2,624 square feet; built in 1999; One unit is tenant occupied, and the tenancy will continue after closing
