397-Building #3 Grandfield Ave Unit C · Bridgeport, CT 06610

$59,900

1 bd · 1.0 ba · 401 sqft · Condo · 25 Days on market

Built 1940 Good condition $639/mo HOA

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Move right into this updated, cozy & impeccably maintained owner-occupied unit offering a bright, comfortable atmosphere and true turnkey convenience. Sold fully furnished with all appliances included & furniture. This clean and welcoming home features an updated interior; newer kitchen and updated bath, laundry in-unit, and an efficient layout designed for easy living. HOA includes heat, hot water, water, sewer, taxes, grounds maintenance, snow removal, trash pickup, and property management. Great opportunity if looking for a true move in unit. Must be owner occupied, board approval is required & cash only purchase.

Key facts

• Newer kitchen
• Updated bath
• Updated interior

Tags

• UPDATED INTERIOR
• NEWER KITCHEN
• UPDATED BATH
• LAUNDRY IN-UNIT
• EFFICIENT LAYOUT
• FULLY FURNISHED

Property features AI

Finance

• Financial info: Professionally managed off-site; Pet restrictions (contact office for details)
• HOA & community: Monthly association fee; Association covers grounds maintenance, trash pickup, snow removal, heat, water, sewer, property management, pest control, and taxes

Exterior

• Utilities: Public water connected; Public sewer connected
• Home design: Co-op unit in a condominium/co-op community (Success Village Apts Co-op)
• Construction: Frame construction
• Exterior features: Brick exterior; Level lot

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: 1 bedroom (unit on 2nd floor)
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiator heat (oil-fired, above-ground tank); Window air conditioning unit; Domestic hot water
• Interior features: Total of 3 rooms; One-level unit; No basement
• Laundry & utility: Washer and dryer located in the back of the kitchen on the main level

🏢 Co-op / cooperative unit. The $59,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $264 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.6% vs local median 4.6% 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: 69 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• This rent runs 39% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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: 2.78% ✓
• Cap rate: 11.59%
• Cash-on-cash: 18.91%
• DSCR: 1.84
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.3%
• Equity multiple: 1.45×
• Total profit: $7,542
• Equity at exit: $8,931

10-year hold

• IRR: 20.7%
• Equity multiple: 2.78×
• Total profit: $29,936
• Equity at exit: $5,179

Cash invested: $16,772 (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 06610

• Home prices YoY: -7.5%
• Active inventory: 69
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,667 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$639
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $264

Break-even live

Break-even rent $1,333

Max offer price $59,900

Occupancy floor 79%

Sensitivity live

Price	-10% $306	-5% $285	+0% $264	+5% $244	+10% $223
Rent	-10% $133	-5% $198	+0% $264	+5% $330	+10% $396
Rate	-1.0pp $294	-0.5pp $279	base $264	+0.5pp $249	+1.0pp $233

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1575 Boston Ave Unit C5 Bridgeport, CT	—	1.0	316	$1,300	$4.11	45d	1	0.37mi
855 Main St Bridgeport, CT	1.0	1.0	490	$2,380	$4.86	20d	10	1.38mi
855 Main St Bridgeport, CT	1.0	1.0	490	$2,380	$4.86	4d	10	1.38mi

HOA detail condo

• Monthly dues: $639 · $7,668/yr
• Likely covers: watersewertrashlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-22
   days on market $59,900 Active 25 DOM
2. 2026-06-18
   days on market $59,900 Active 22 DOM
3. 2026-06-17
   days on market $59,900 Active 21 DOM
4. 2026-06-16
   days on market $59,900 Active 20 DOM
5. 2026-06-15
   days on market $59,900 Active 19 DOM
6. 2026-06-13
   days on market $59,900 Active 17 DOM
7. 2026-06-13
   days on market $59,900 Active 16 DOM
8. 2026-06-10
   days on market $59,900 Active 14 DOM
9. 2026-06-09
   days on market $59,900 Active 13 DOM
10. 2026-06-08
    days on market $59,900 Active 12 DOM
11. 2026-06-07
    days on market $59,900 Active 11 DOM
12. 2026-06-05
    days on market $59,900 Active 8 DOM
13. 2026-06-03
    days on market $59,900 Active 7 DOM
14. 2026-06-03
    days on market $59,900 Active 6 DOM
15. 2026-06-01
    days on market $59,900 Active 5 DOM
16. 2026-05-31
    days on market $59,900 Active 4 DOM
17. 2026-05-27
    listed $59,900 Active

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 51% 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: $20,008
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$7,668
• − Depreciation: −$1,743
• Taxable income: $2,843
• Est. tax owed @ 24.0%: −$682
• After-tax cash flow: $2,489/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 · 12 photos

Good 75/100 Cosmetic rehab

This move-in-ready, updated condo offers a bright, comfortable atmosphere and true turnkey convenience. The interior and exterior are in good condition, with minor maintenance needed for painting. The property is owner-occupied and includes all appliances and furniture, making it a great opportunity for a new owner.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Paint interior — Enhances interior appearance and resale value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Paint interior — Enhances interior appearance and resale value ↑

ⓘ 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): 22,020
• Household income: $51,634
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 1368.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 51% Black 23% White 20% Two or more races 14% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 30% Dominican 6%
• Common ancestry: Romanian 4% Estonian 3% Hispanic 2%
• Foreign-born: 31% · Canada, Jamaica, Vietnam
• Languages at home: 47% English-only · Spanish 40% Other Indo-European 5% Russian/Polish/Slavic 3%

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: ▼ -29.78%
• Current HPI: 370.1432
• 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

1 event — show timeline

• 2026-05-27 Listed $59,900 Smart MLS