Three-Unit Triplex with
New
For Sale
$679,900
869 Central Avenue, Bridgeport, CT 06607
Multi-Family For Sale, 3updown - Unit(s) per Floor, Bridgeport, CT
Property Size3,377 SF
Lot Size0.14 Acres
Price / SF$201.33
Days on Market6
Property Features for 869 Central Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RC
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 7, Basement, Bedroom 5, Bedroom 4, Bathroom 1, Bathroom 3, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 3
Parking
7
Patio and Porch features
Porch
Exterior features
Porch,Gutters,Lighting
Basement
Unfinished, Full
Lot features
City Views, Level Lot
Elementary school
Per Board of Ed
High school
Per Board of Ed
Directions
Central Avenue
Subdivision
East End
Standard status
Active
Size
3,377 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
8327
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
laundry area
Building Details
Year built
1909
Architectural style
Other
Listing Agency:
RE/MAX Right Choice · RE/MAX International
(203) 268-1118
Listed By:
Paul Ferreira · License #RES.0756087
(203) 209-8111
Added: Sep 14
Changed: Sep 19
Last Checked: Sep 19 at 3:06AM
MLS# 24202442
Copyright © 2026 SmartMLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit residential property includes 14 rooms, three bathrooms, and 3,377 square feet of living space within 4,708 total square feet. The units feature eat-in kitchens, dining rooms, living areas, bedrooms, and additional spaces including a sunroom and balcony. A 926-square-foot basement provides laundry, mechanical systems, and storage. The property sits on a 6,054-square-foot lot and includes a porch, gutters, exterior lighting, public water, and public sewer.
Built in 1909, the property is zoned RC and located at 869 Central Avenue in Bridgeport. Access to I-95 is 0.59 miles away, while major shopping is 0.78 miles from the property. Bridgeport train station is 2.9 miles away, Seaside Park is 3.7 miles away, and Bridgeport Hospital Yale New Haven is 1.6 miles away.
Built in 1909, the property is zoned RC and located at 869 Central Avenue in Bridgeport. Access to I-95 is 0.59 miles away, while major shopping is 0.78 miles from the property. Bridgeport train station is 2.9 miles away, Seaside Park is 3.7 miles away, and Bridgeport Hospital Yale New Haven is 1.6 miles away.
Key Highlights
- Three‑unit residential property with 14 rooms and 3 bathrooms
- 3,377 square feet of living space within 4,708 total square feet
- 926‑square‑foot basement with laundry, mechanicals, and storage
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
$43,763
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
6.44%
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%
$875,260
$875.3K
Cap Rate 7%
$625,186
$625.2K
Cap Rate 9%
$486,256
$486.3K
Market Conditions
NOI Build-Up for 3,377 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
$66.9K $19.80/SF
− Vacancy
−$4.3K −$1.29/SF
EGI
$62.5K $18.51/SF
− OpEx
−$18.8K −$5.55/SF
NOI
$43.8K $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%
$875,260
Cap Rate 7%
$625,186
Cap Rate 9%
$486,256
Alternative Uses
Best Use
Multifamily LT 5
$625.2K
$547.0K – $729.4K
NOI $43,763 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$567.5K
$496.5K – $662.1K
NOI $39,723 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$963.9K
$843.4K – $1.12M
NOI $67,471 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
856
Businesses Nearby
Explore this area
Business Placement
Demographics for 06607, CT
8,690
Population
2,696
Households
3.2
Avg Household Size
33
Median Age
7%
College-Educated
75%
High-School Grad
1.2 sq mi
ZIP Area
7,242
Density / Sq Mi
$49,555
Median Household Income
$32,000
Median Earnings
$1,398
Median Rent
$218,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential levels offer eat-in kitchens, dining areas, living spaces, and basement storage with laundry facilities.
Where is this triplex located?
The property is located at 869 Central Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Three‑unit residential property with 14 rooms and 3 bathrooms; 3,377 square feet of living space within 4,708 total square feet; 926‑square‑foot basement with laundry, mechanicals, and storage
