Three-Unit Property with
For Sale
$749,900
973 Howard Avenue, Bridgeport, CT 06605
Three-family property with separate utilities, rental income potential, and full-basement storage.
Property Size1,910 SF
Price / SF$229.68
Days on Market8
Property Features for 973 Howard Avenue
General Information
Standard status
Active
Size
1,910 SF
Property subtype
3 Family
Additional Details
Multifamily Units
3
Building Details
Building Size
1,910 SF
Year Built
1910
Listing Agency:
Whitestone Real Estate Group
(203) 400-8895
Listed By:
Jose Cuahuizo · License #452508574
(203) 400-8895
Source:
Iverty
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 11 at 5:44AM
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 Whitestone Real Estate Group
Investment Insights
Based on property information with market context.
Located at 973 Howard Avenue in Bridgeport’s West End, this three-family property contains three units within a 3,265-square-foot building constructed in 1910. Separate utilities serve the units, supporting distinct residential operations within the property.
A full basement adds storage space and supplemental flexibility. The property generates rental income and may also accommodate an owner-occupied arrangement. Its three-unit configuration offers a residential income profile in a Bridgeport neighborhood setting.
A full basement adds storage space and supplemental flexibility. The property generates rental income and may also accommodate an owner-occupied arrangement. Its three-unit configuration offers a residential income profile in a Bridgeport neighborhood setting.
Key Highlights
- Three‑family property with three units
- 3,265‑square‑foot building constructed in 1910
- Separate utilities serve the units
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
$42,311
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
5.64%
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%
$846,220
$846.2K
Cap Rate 7%
$604,443
$604.4K
Cap Rate 9%
$470,122
$470.1K
Market Conditions
NOI Build-Up for 3,265 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
$64.6K $19.80/SF
− Vacancy
−$4.2K −$1.29/SF
EGI
$60.4K $18.51/SF
− OpEx
−$18.1K −$5.55/SF
NOI
$42.3K $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%
$846,220
Cap Rate 7%
$604,443
Cap Rate 9%
$470,122
Alternative Uses
Best Use
Multifamily LT 5
$604.4K
$528.9K – $705.2K
NOI $42,311 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$548.6K
$480.1K – $640.1K
NOI $38,405 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$931.9K
$815.4K – $1.09M
NOI $65,233 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,181
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?
Triplex - Three-family property with separate utilities, rental income potential, and full-basement storage.
Where is this triplex located?
The property is located at 973 Howard Avenue Bridgeport, CT.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Three‑family property with three units; 3,265‑square‑foot building constructed in 1910; Separate utilities serve the units
