Two-Family Duplex with Patio
For Sale
$534,900
969-971 Wood Ave, Bridgeport, CT 06604
Residential income property with patio decking and access to shopping, dining, transportation, schools, and major roadways.
Property Size3,103 SF
Price / SF$172.38
Days on Market9
Property Features for 969-971 Wood Ave
General Information
Standard status
Active
Size
3,103 SF
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
patio decking
Building Details
Year Built
1900
Buildings
1
Listing Agency:
eXp Realty
Listed By:
Tracey Jefferson (203) 610-1097 (866) 828-3951
(203) 610-1097
Source:
Jaida.mappmyhome
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 26 at 7:22AM
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 eXp Realty
Investment Insights
Based on property information with market context.
Located at 969-971 Wood Avenue in Bridgeport, Connecticut, this two-family residential property offers a configuration suited to separate household occupancy. The home includes patio decking and mechanical systems described as sound in the property information.
Built in 1900, the property is positioned near shopping, dining, transportation, schools, and major roadways. Its two-family layout provides an established residential income format within Bridgeport.
Built in 1900, the property is positioned near shopping, dining, transportation, schools, and major roadways. Its two-family layout provides an established residential income format within Bridgeport.
Key Highlights
- Two‑family residential property at 969‑971 Wood Avenue
- Built in 1900
- Newer patio decking
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
$40,212
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
7.52%
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%
$804,240
$804.2K
Cap Rate 7%
$574,457
$574.5K
Cap Rate 9%
$446,800
$446.8K
Market Conditions
NOI Build-Up for 3,103 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
$61.4K $19.80/SF
− Vacancy
−$4.0K −$1.29/SF
EGI
$57.4K $18.51/SF
− OpEx
−$17.2K −$5.55/SF
NOI
$40.2K $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%
$804,240
Cap Rate 7%
$574,457
Cap Rate 9%
$446,800
Alternative Uses
Best Use
Multifamily LT 5
$574.5K
$502.7K – $670.2K
NOI $40,212 @ 7.0% cap · market cap 7.52%
Second Best
Apartment 5plus
$521.4K
$456.3K – $608.3K
NOI $36,500 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$885.7K
$775.0K – $1.03M
NOI $61,996 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
877
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 - Residential income property with patio decking and access to shopping, dining, transportation, schools, and major roadways.
Where is this duplex located?
The property is located at 969-971 Wood Ave Bridgeport, CT.
What is the asking price?
The asking price for this property is $534,900.
What are key features of this property?
This property features: Two‑family residential property at 969‑971 Wood Avenue; Built in 1900; Newer patio decking
