580 Wilmot Ave #2 · Bridgeport, CT 06607

$105,900

2 bd · 1.0 ba · 750 sqft · Condo · 77 Days on market

Built 1908 Good condition $141/sqft · 96% above area $617/mo HOA · 32% of rent

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Why this score? — see what drove the B- 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 +22.4/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

This 2 bedroom condominium style apartment is conveniently located on the first level. It has been fully renovated and painted inside and out, hardwood floors, ceiling fans throughout. Ample storage in enclosed patio and secure storage in the heated basement. Ready to move in. Heating, hot water, trash pick up, grounds maintenance, snow removal & taxes are all included in the HOA. Parking spot can be rented for $25 per month or there is street parking.

Key facts

• Fully renovated
• Heated basement
• Hardwood floors

Tags

• FULLY RENOVATED
• HARDWOOD FLOORS
• AMPLE STORAGE
• ENCLOSED PATIO
• SECURE STORAGE
• HEATED BASEMENT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $106k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $176 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $106k).
• Recommended offer: $100k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: 33 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $1,930/mo this rent would consume 46% of the median local household income ($50k/yr) (locally 534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $11k of equity ($732 loan paydown + $11k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $30k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $90k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent; built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,546 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.82% ✓
• Cap rate: 8.28%
• Cash-on-cash: 7.11%
• DSCR: 1.32
• GRM: 4.6

CMA / ARV

• ARV (median comp): $54,021
• List price: $105,900
• Delta: 96.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 3.34×
• Total profit: $69,277
• Equity at exit: $95,403

10-year hold

• IRR: 25.8%
• Equity multiple: 7.61×
• Total profit: $196,020
• Equity at exit: $205,740

Cash invested: $29,652 (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 06607

• Home prices YoY: 4.7%
• Active inventory: 33
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,930 high
• Mortgage (P&I): −$555
• Tax est. 1.5%: −$132 /mo · $1,588/yr
• Insurance: −$44
• HOA: −$617
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $176

Break-even live

Break-even rent $1,707

Max offer price $105,900

Occupancy floor 86%

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: $26,475
• Closing costs: $3,177
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
458 Hollister Ave Unit 2nd Bridgeport, CT	3.0	1.0	1100	$1,899	$1.73	44d	1	0.10mi
647 Union Ave Unit 2 Bridgeport, CT	2.0	1.0	750	$1,675	$2.23	3d	1	0.14mi
1400 Stratford Ave Bridgeport, CT	2.0	1.0	950	$2,000	$2.11	44d	1	0.21mi
166 6th St Bridgeport, CT	3.0	1.0	1100	$2,300	$2.09	19d	1	0.28mi
145 Cowles St Unit B7 Bridgeport, CT	1.0	1.0	600	$1,325	$2.21	3d	1	0.31mi
467 Connecticut Ave Unit 3 Bridgeport, CT	2.0	1.0	820	$1,700	$2.07	24d	1	0.34mi
463-465 Connecticut Ave Unit 3 Bridgeport, CT	2.0	1.0	820	$1,700	$2.07	24d	1	0.34mi
56-58 Edwin St Unit 2 Bridgeport, CT	2.0	1.0	900	$1,900	$2.11	44d	1	0.39mi
601 Newfield Ave Bridgeport, CT	3.0	1.0	1047	$2,300	$2.20	44d	1	0.42mi
1525 Central Ave Bridgeport, CT	1.0	1.0	625	$1,550	$2.48	44d	3	0.48mi
222 Beardsley St Unit 3rd floor Bridgeport, CT	2.0	1.0	732	$2,000	$2.73	44d	1	0.49mi
222 Beardsley St Unit 2nd floor Bridgeport, CT	2.0	1.0	934	$2,000	$2.14	12d	1	0.49mi
123 Summerfield Ave Bridgeport, CT	2.0	1.0	1026	$2,300	$2.24	44d	1	0.51mi
1880 Seaview Ave Unit 3 Bridgeport, CT	1.0	1.0	1003	$1,300	$1.30	14d	1	0.58mi
1804 Barnum Ave Unit 10 Bridgeport, CT	2.0	1.0	1100	$2,000	$1.82	44d	1	0.59mi
127 Eagle St Bridgeport, CT	2.0	1.0	1000	$2,000	$2.00	44d	1	0.62mi
250 Summerfield Ave Unit 1 Bridgeport, CT	2.0	1.0	1000	$1,875	$1.88	3d	1	0.63mi
1150 Ogden Street Ext Unit 305 Bridgeport, CT	1.0	1.0	780	$1,425	$1.83	44d	1	0.67mi
1150 Ogden Street Ext Unit 102 Bridgeport, CT	1.0	1.0	700	$1,425	$2.04	14d	1	0.67mi
556 Hollister St Stratford, CT	1.0–2.0	1.0	725	$2,295	$3.17	12d	4	0.69mi
246 Judson Pl Apt B Bridgeport, CT	3.0	1.0	1000	$2,800	$2.80	14d	1	0.69mi
1145 Ogden St Unit 3R Bridgeport, CT	3.0	1.0	1000	$1,695	$1.70	14d	1	0.70mi
129 Sage Ave Unit 2R Bridgeport, CT	2.0	1.0	1030	$1,750	$1.70	21d	1	0.77mi
334 Hollister St Unit 2 Stratford, CT	2.0	1.0	832	$2,200	$2.64	12d	1	0.80mi
2156 Seaview Ave Fl LHS Bridgeport, CT	3.0	1.0	1000	$2,400	$2.40	44d	1	0.81mi
192 Peace St Unit 1st floor Stratford, CT	2.0	1.0	712	$2,000	$2.81	44d	1	0.82mi
530 Jane St Unit 2 Bridgeport, CT	2.0	1.0	800	$2,200	$2.75	44d	1	0.87mi
54 Remington St Bridgeport, CT	3.0	1.0	1004	$1,900	$1.89	3d	1	0.87mi
136 Peace St Unit 4 Stratford, CT	2.0	1.0	800	$1,700	$2.12	44d	1	0.89mi
1071 Pembroke St Unit 2B Bridgeport, CT	2.0	1.0	848	$1,750	$2.06	21d	1	0.91mi
588-612 E Main St Unit 598 Bridgeport, CT	3.0	1.0	1000	$2,300	$2.30	14d	1	0.92mi
588-612 E Main St Unit 592 Bridgeport, CT	3.0	2.0	1000	$2,350	$2.35	14d	1	0.92mi
588-612 E Main St Unit D Bridgeport, CT	2.0	1.0	750	$2,125	$2.83	44d	1	0.92mi
588-612 E Main St Unit 598 Bridgeport, CT	2.0	1.0	750	$1,975	$2.63	10d	1	0.92mi
144 Palisade Ave Bridgeport, CT	3.0	1.0	1096	$2,600	$2.37	44d	1	0.94mi
86 Birdsey St Unit 3R Bridgeport, CT	1.0	1.0	650	$1,350	$2.08	44d	1	0.95mi
515 E Main St Bridgeport, CT	3.0	2.0	800	$2,550	$3.19	44d	1	0.95mi
511 E Main St Bridgeport, CT	3.0	1.0	1100	$2,300	$2.09	44d	1	0.95mi
507 E Main St Bridgeport, CT	3.0	1.0	1120	$2,198	$1.96	44d	1	0.95mi
505 E Main St Bridgeport, CT	3.0	1.0	1120	$2,199	$1.96	44d	1	0.95mi

HOA detail condo

• Monthly dues: $617 · $7,404/yr
• Likely covers: watertrashlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $105,900 Active 77 DOM
2. 2026-06-17
   days on market $105,900 Active 76 DOM
3. 2026-06-16
   days on market $105,900 Active 75 DOM
4. 2026-06-15
   days on market $105,900 Active 74 DOM
5. 2026-06-13
   days on market $105,900 Active 72 DOM
6. 2026-06-13
   days on market $105,900 Active 71 DOM
7. 2026-06-10
   days on market $105,900 Active 69 DOM
8. 2026-06-09
   days on market $105,900 Active 68 DOM
9. 2026-06-08
   days on market $105,900 Active 67 DOM
10. 2026-06-07
    days on market $105,900 Active 66 DOM
11. 2026-06-05
    days on market $105,900 Active 63 DOM
12. 2026-06-03
    days on market $105,900 Active 62 DOM
13. 2026-06-03
    days on market $105,900 Active 61 DOM
14. 2026-06-01
    days on market $105,900 Active 60 DOM
15. 2026-05-31
    days on market $105,900 Active 59 DOM
16. 2026-04-02
    listed $111,000 Active 460-char remark

    Show marketing remark (460 chars)

    This 2 bedroom condominium style apartment is conveniently located on the first level. It has been fully renovated and painted inside and out, hardwood floors, ceiling fans throughout. Ample storage in enclosed patio and secure storage in the heated basement. Ready to move in. Heating, hot water, trash pick up, grounds maintenance, snow removal & taxes are all included in the HOA. Parking spot can be rented for $25 per month or there is street parking.

17. 2026-01-29
    historical
18. 2025-12-27
    price $96,900
19. 2025-12-01
    price $89,900
20. 2025-11-25
    status Active
21. 2025-10-17
    historical
22. 2025-09-26
    price $97,000
23. 2025-09-18
    price $109,900
24. 2025-09-11
    price $114,900
25. 2025-09-03
    price $119,900
26. 2025-08-22
    listed $124,900 Active
27. 2025-01-16
    status Under Contract
28. 2025-01-15
    soldstatus $90,000 Closed
29. 2024-11-12
    historical Under Contract - Continue to Show
30. 2024-10-18
    listed $92,000 Active
31. 2022-06-25
    historical
32. 2022-06-24
    soldstatus $37,000 Closed
33. 2022-05-29
    historical Under Contract - Continue to Show
34. 2022-05-22
    price $34,000
35. 2022-05-17
    status Active
36. 2022-03-26
    historical Under Contract - Continue to Show
37. 2022-03-14
    listed $38,000 Active

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

Taxation est. · year 1

• Rental income: $23,158
• − Mortgage interest: −$5,932
• − Property taxes: −$1,588
• − Insurance: −$530
• − Repairs & maintenance: −$1,853
• − Management: −$1,853
• − HOA: −$7,404
• − Depreciation: −$3,081
• Taxable income: $918
• Est. tax owed @ 24.0%: −$220
• After-tax cash flow: $1,888/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.

Condition & rehab AI · 11 photos

Good 75/100 Cosmetic rehab

This fully-renovated 2-bedroom condo is move-in ready with modern updates and a good condition score.

Value-add opportunities

• Both painting — Fresh paint can enhance curb appeal and interior aesthetics
• Both landscaping — Well-maintained landscaping can improve curb appeal and attract potential buyers

Renovation cost estimate screening

Value-add ROI direction

• Both painting — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both landscaping — Well-maintained landscaping can improve curb appeal and attract potential buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 7,979
• Household income: $50,000
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 534.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 57% Black 31% Two or more races 19% Asian 6% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 32% Cuban 4% Dominican 4%
• Common ancestry: Estonian 1% Russian 1%
• Foreign-born: 25% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 42% Other Asian/Pacific 2% Other Indo-European 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: ▲ 26.05%
• Current HPI: 584.8108
• Rent YoY: —
• 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

+192.1% since first listed

22 events — show timeline

• 2026-04-02 Listed $111,000 Smart MLS
• 2026-01-29 Listing Removed — Smart MLS
• 2025-12-27 Price Changed $96,900 Smart MLS
• 2025-12-01 Price Changed $89,900 Smart MLS
• 2025-11-25 Relisted — Smart MLS
• 2025-10-17 Listing Removed — Smart MLS
• 2025-09-26 Price Changed $97,000 Smart MLS
• 2025-09-18 Price Changed $109,900 Smart MLS
• 2025-09-11 Price Changed $114,900 Smart MLS
• 2025-09-03 Price Changed $119,900 Smart MLS
• 2025-08-22 Listed $124,900 Smart MLS
• 2025-01-16 Pending — Smart MLS
• 2025-01-15 Sold (MLS) $90,000 Smart MLS
• 2024-11-12 Contingent — Smart MLS
• 2024-10-18 Listed $92,000 Smart MLS
• 2022-06-25 Listing Removed — Smart MLS
• 2022-06-24 Sold (MLS) $37,000 Smart MLS
• 2022-05-29 Contingent — Smart MLS
• 2022-05-22 Price Changed $34,000 Smart MLS
• 2022-05-17 Relisted — Smart MLS
• 2022-03-26 Contingent — Smart MLS
• 2022-03-14 Listed $38,000 Smart MLS