305 Parrott Ave · Bridgeport, CT 06606

$2,300,000

208 bd · 256.0 ba · 8,006 sqft · MultiFamily public records · 23 Days on market

Built 1941 8,276 sqft lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +7.7/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 16 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Welcome to 305 Parrott Avenue Bridgeport, CT an excellent brick, corner 16 unit apartment building for sale in the North End of Bridgeport. The property comprises 13 one bedroom aprtments and 3 studio units ideal for today's rental market and is fully occupied. 305 Parrott features stable, in place cash flow from day one with a clear pathway to dramatically increase income. See attached brochure for more information.

Key facts

• 8,276 sq ft lot
• Built 1941
• Listed 23 days

Property features AI

Finance

• Financial info: Multi-family for sale; Total of 16 units; Total living area approximately 8006

Exterior

• Utilities: Public water connected; Public sewer connected; Natural gas domestic hot water; Natural gas fuel for heating
• Home design: Multi-family property (5+ units)
• Construction: Brick construction; Brick foundation; Flat roof
• Exterior features: Corner lot with city views; Brick exterior siding

Interior

• Bedrooms: 13 total bedrooms
• Bathrooms: 16 full bathrooms
• Heating & cooling: Hot water heating; Window unit cooling
• Interior features: Home automation includes appliances control, lighting, and locks; Partial basement

What this means for you Summary

Snapshot

• This is a 13×1bd/1ba + 3×?bd/1ba units multifamily listed at $2.30M.

Deal economics

• At list price, monthly cash flow is $7k ($90k/yr) — positive. Per door: $467/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $2.30M).
• Recommended offer: $2.27M (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 5.0% in Bridgeport — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#15 in CT, #1,374 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: crime C-, employment D+, schools D-.
• Bridgeport School District (urban): math 9% / reading 19% proficiency, ranked #151 of 153 in CT (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 97% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.1%/yr); 152 active listings in the ZIP; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $29,113/mo this rent would consume 476% of the median local household income ($73k/yr) (locally 2163% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $16k of loan paydown is wiped out by about $69k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.1% rent growth), your $644k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($2.27M) is reasonable based on typical stale-listing flexibility.
• Current owner paid $820k; list at $2.30M implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 41% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $2,265,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.27% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.92%
• DSCR: 1.62
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: 4.3%
• Equity multiple: 1.17×
• Total profit: $106,797
• Equity at exit: $342,937

10-year hold

• IRR: 13.9%
• Equity multiple: 2.12×
• Total profit: $720,966
• Equity at exit: $198,862

Cash invested: $644,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Connecticut: 27 Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Strong tenant statutes; rent commissions in some towns; courts slow especially in cities.

Methodology + full state rankings →

ZIP-level market 06606

• Rents YoY: 3.1%
• Active inventory: 152
• Price-to-rent: 104.9×

Monthly cashflow live

• Estimated rent: $29,113 high
• Mortgage (P&I): −$12,061
• Tax from tax record: −$2,510 /mo · $30,115/yr
• Insurance: −$958
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,114
• Net cashflow: $7,470

Break-even live

Break-even rent $19,657

Max offer price $2,300,000

Occupancy floor 69%

Sensitivity live

Price	-10% $8,772	-5% $8,121	+0% $7,470	+5% $6,819	+10% $6,168
Rent	-10% $5,170	-5% $6,320	+0% $7,470	+5% $8,620	+10% $9,770
Rate	-1.0pp $8,628	-0.5pp $8,055	base $7,470	+0.5pp $6,874	+1.0pp $6,268

16-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 13× units	1	1	$23,751
▸ 3× units	0	1	$5,358
Total (16 units)			$29,113

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $575,000
• Closing costs: $69,000
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $2,300,000 Active 23 DOM
2. 2026-06-17
   days on market $2,300,000 Active 22 DOM
3. 2026-06-16
   days on market $2,300,000 Active 21 DOM
4. 2026-06-15
   days on market $2,300,000 Active 20 DOM
5. 2026-06-13
   days on market $2,300,000 Active 18 DOM
6. 2026-06-13
   days on market $2,300,000 Active 17 DOM
7. 2026-06-10
   days on market $2,300,000 Active 15 DOM
8. 2026-06-09
   days on market $2,300,000 Active 14 DOM
9. 2026-06-08
   days on market $2,300,000 Active 13 DOM
10. 2026-06-07
    days on market $2,300,000 Active 12 DOM
11. 2026-06-05
    days on market $2,300,000 Active 9 DOM
12. 2026-06-03
    days on market $2,300,000 Active 8 DOM
13. 2026-06-03
    days on market $2,300,000 Active 7 DOM
14. 2026-06-01
    days on market $2,300,000 Active 6 DOM
15. 2026-05-31
    days on market $2,300,000 Active 5 DOM
16. 2026-05-14
    listed $2,300,000 Active
17. 2014-06-18
    soldstatus $820,000
18. 2007-11-30
    soldstatus $769,000
19. 2005-07-28
    soldstatus $710,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CT · Partial reset (capped growth)

• Current annual tax: $30,115 · $2,510/mo
• Projected year-2 tax: $39,668 · $3,306/mo
• Expected delta: +$9,552/yr (+$796/mo · 31.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 41% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $349,356
• − Mortgage interest: −$128,836
• − Property taxes: −$30,115
• − Insurance: −$11,500
• − Repairs & maintenance: −$27,948
• − Management: −$27,948
• − Depreciation: −$66,909
• Taxable income: $56,099
• Est. tax owed @ 24.0%: −$13,464
• After-tax cash flow: $76,175/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Bridgeport School District
• NCES district ID: 0900450
• Math proficiency: 9% ▼ -7.00%
• Reading proficiency: 19% ▼ -10.00%
• Median HH income: $41,507
• Composite: 12.09/100
• National rank: #9656
• State rank: #151 of 153 in CT

Livability — Bridgeport

• Score: 81/100
• State rank: #15
• US rank: #1374

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime C- Employment D+ Housing A Health & safety A+ User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bridgeport, CT
• County: Fairfield County · 765,532 people
• City population: 149,153
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 49,308
• Household income: $73,372
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 2163.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Hispanic / Latino 37% White 31% Black 19% Two or more races 11% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 12% Dominican 4%
• Common ancestry: Estonian 5% Russian 4% Romanian 3%
• Foreign-born: 37% · Canada, Jamaica, Vietnam
• Languages at home: 50% English-only · Spanish 27% Other Indo-European 15% French/Haitian/Cajun 2%

Political lean MEDSL · Greater Bridgeport

• 2024 margin: Strong D (+23.3) · D 60.9% · R 37.6% · Other 1.5%
• All cycles: 2024: D+23.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -270.11%
• Current HPI: 345.647
• Rent YoY: ▲ 3.12%
• Metro: Bridgeport-Stamford-Norwalk, CT
• State GDP YoY: ▲ 1.06%
• F500 in state: 38

Industry mix (Fortune 500 HQ in CT)

Industry	F500 HQs	Revenue
▸Industrial Machinery	4	$38B
▸Insurance	3	$71B
▸Financial Services	2	$25B
▸Transportation / Logistics	2	$18B
▸Healthcare	1	$247B
▸Telecommunications	1	$55B

Price history

+223.9% since first listed

4 events — show timeline

• 2026-05-14 Listed $2,300,000 Smart MLS
• 2014-06-18 Sold (Public Records) $820,000 Public Records
• 2007-11-30 Sold (Public Records) $769,000 Public Records
• 2005-07-28 Sold (Public Records) $710,000 Public Records

Property tax history

+3.6%/yr

Latest (2023): $30,115 · +0.0% YoY. Source: county tax records.