1193 Park Ave · Bridgeport, CT 06606

$420,000

6 bd · 3.0 ba · 3,434 sqft · MultiFamily public records · 10 Days on market

Built 1914 5,227 sqft lot $122/sqft · 21% below area Est $530k · 21% under

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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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +7.1/10.0
• 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 (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Large well kept two family home, great for investor or owner occupant. The units have been recently updated, large eat-in-kitchens with newer cabinets, newer bathrooms and spacious bedrooms. The second floor has refinished hardwood flooring though-out. Newer roof estimated about 3 years old. Plenty of off street parking in the rear of home.

Key facts

• Rear parking
• Investment potential
• Shared driveway

Tags

• FINISHED WALK UP ATTIC
• SHARED DRIVEWAY
• REAR PARKING
• INVESTMENT POTENTIAL

Property features AI

Exterior

• Parking: Other parking; Off-street parking; 4 total parking spaces
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family (2-family) property
• Construction: Built with frame construction; Vinyl siding; Concrete foundation; Asphalt shingle roof; Yellow exterior color
• Exterior features: Porch

Interior

• Bedrooms: 6 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Gas heating (on gas); Domestic hot water
• Interior features: 15 total rooms; 5 fireplaces; Full, unfinished basement; Finished walk-up attic

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $420k.

Deal economics

• At list price, monthly cash flow is $980 ($12k/yr) — positive. Per door: $490/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $420k).
• Cap rate 9.1% 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; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $5,100/mo this rent would consume 83% 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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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 $255k; list at $420k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 41% 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 $420,000

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 1914 — 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: 1.21% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.00%
• DSCR: 1.44
• GRM: 6.9

CMA / ARV

• ARV (median comp): $529,732
• List price: $420,000
• Delta: -20.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
533 Clinton Ave	0.52mi	6/2.0	3,459 (+1%)	4mo	$690,000	$199	67
213 Harral Ave	0.25mi	7/4.0 (+1)	3,259 (-5%)	6mo	$650,000	$199	65
392 Laurel Ave	0.31mi	6/3.0	3,138 (-9%)	11mo	$489,500	$156	62
41-43 Worth St	0.30mi	5/3.0 (-1)	3,044 (-11%)	0mo	$640,000	$210	62
115 Denver Ave	0.63mi	6/2.5	3,382 (-2%)	6mo	$485,000	$143	61
566 Wood Ave	0.50mi	7/4.0 (+1)	3,510 (+2%)	5mo	$630,000	$179	60
59-61 Grove St	0.39mi	7/3.0 (+1)	3,628 (+6%)	12mo	$625,000	$172	57
227-229 Laurel Ave	0.18mi	6/4.0	3,072 (-10%)	16mo	$691,875	$225	57
695 697 Laurel Ave	0.51mi	6/3.0	3,826 (+11%)	3mo	$509,000	$133	55
103 Highland Ave	0.49mi	6/3.0	3,122 (-9%)	10mo	$510,000	$163	54
1599 Park Ave	0.39mi	6/2.0	3,126 (-9%)	15mo	$595,000	$190	50
73 Yale St	0.39mi	5/3.0 (-1)	3,044 (-11%)	14mo	$580,000	$191	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -1.1%
• Equity multiple: 0.96×
• Total profit: $-4,854
• Equity at exit: $62,623

10-year hold

• IRR: 8.8%
• Equity multiple: 1.67×
• Total profit: $79,363
• Equity at exit: $36,314

Cash invested: $117,600 (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: 13.7×

Monthly cashflow live

• Estimated rent: $5,100 high
• Mortgage (P&I): −$2,203
• Tax from tax record: −$671 /mo · $8,057/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,071
• Net cashflow: $980

Break-even live

Break-even rent $3,859

Max offer price $420,000

Occupancy floor 76%

Sensitivity live

Price	-10% $1,218	-5% $1,099	+0% $980	+5% $861	+10% $742
Rent	-10% $577	-5% $779	+0% $980	+5% $1,182	+10% $1,383
Rate	-1.0pp $1,192	-0.5pp $1,087	base $980	+0.5pp $871	+1.0pp $761

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$5,100
Total (2 units)			$5,100

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: $105,000
• Closing costs: $12,600
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
241 Lewis St Unit 241 Bridgeport, CT	6.0	2.0	2300	$3,500	$1.52	44d	1	0.45mi
1566 North Ave Bridgeport, CT	5.0	1.0	2837	$2,500	$0.88	44d	1	0.61mi
107 Catherine St Bridgeport, CT	7.0	2.5	4104	$2,900	$0.71	15d	1	0.66mi
7 Armstrong Pl Bridgeport, CT	5.0	1.0	2449	$2,750	$1.12	24d	1	1.05mi

Listing history 19 events

1. 2026-05-15
   status Under Contract 647-char remark
2. 2026-05-04
   listed $420,000 Active 647-char remark
3. 2024-05-28
   historical
4. 2024-03-18
   status Under Contract
5. 2024-03-18
   status Active
6. 2023-07-07
   status Under Contract
7. 2023-07-05
   price $250,000
8. 2022-11-15
   price $379,000
9. 2022-11-15
   status Active
10. 2022-11-01
    historical
11. 2022-08-24
    historical Under Contract - Continue to Show
12. 2022-08-24
    status Active
13. 2022-08-24
    historical Under Contract - Continue to Show
14. 2022-08-13
    listed $329,000 Active
15. 2019-08-05
    soldstatus $255,000
16. 2019-08-02
    soldstatus $255,000 Closed

    Show marketing remark (342 chars)

    Large well kept two family home, great for investor or owner occupant. The units have been recently updated, large eat-in-kitchens with newer cabinets, newer bathrooms and spacious bedrooms. The second floor has refinished hardwood flooring though-out. Newer roof estimated about 3 years old. Plenty of off street parking in the rear of home.

17. 2019-04-21
    historical

    Show marketing remark (342 chars)

    Large well kept two family home, great for investor or owner occupant. The units have been recently updated, large eat-in-kitchens with newer cabinets, newer bathrooms and spacious bedrooms. The second floor has refinished hardwood flooring though-out. Newer roof estimated about 3 years old. Plenty of off street parking in the rear of home.

18. 2019-04-03
    listed $259,900 Active

    Show marketing remark (342 chars)

    Large well kept two family home, great for investor or owner occupant. The units have been recently updated, large eat-in-kitchens with newer cabinets, newer bathrooms and spacious bedrooms. The second floor has refinished hardwood flooring though-out. Newer roof estimated about 3 years old. Plenty of off street parking in the rear of home.

19. 2018-02-22
    soldstatus $180,000

ⓘ 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: $8,057 · $671/mo
• Projected year-2 tax: $8,522 · $710/mo
• Expected delta: +$466/yr (+$39/mo · 5.8%)

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

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 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: $61,200
• − Mortgage interest: −$23,527
• − Property taxes: −$8,057
• − Insurance: −$2,100
• − Repairs & maintenance: −$4,896
• − Management: −$4,896
• − Depreciation: −$12,218
• Taxable income: $5,506
• Est. tax owed @ 24.0%: −$1,322
• After-tax cash flow: $10,439/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

+133.3% since first listed

19 events — show timeline

• 2026-05-15 Pending — Smart MLS
• 2026-05-04 Listed $420,000 Smart MLS
• 2024-05-28 Listing Removed — Smart MLS
• 2024-03-18 Pending — Smart MLS
• 2024-03-18 Relisted — Smart MLS
• 2023-07-07 Pending — Smart MLS
• 2023-07-05 Price Changed $250,000 Smart MLS
• 2022-11-15 Price Changed $379,000 Smart MLS
• 2022-11-15 Relisted — Smart MLS
• 2022-11-01 Listing Removed — Smart MLS
• 2022-08-24 Contingent — Smart MLS
• 2022-08-24 Relisted — Smart MLS
• 2022-08-24 Contingent — Smart MLS
• 2022-08-13 Listed $329,000 Smart MLS
• 2019-08-05 Sold (Public Records) $255,000 Public Records
• 2019-08-02 Sold (MLS) $255,000 Smart MLS
• 2019-04-21 Listing Removed — Smart MLS
• 2019-04-03 Listed $259,900 Smart MLS
• 2018-02-22 Sold (Public Records) $180,000 Public Records

Property tax history

+0.4%/yr

Latest (2023): $8,057 · +0.0% YoY. Source: county tax records.