616 Noble Ave · Bridgeport, CT 06608

$599,900

6 bd · 3.5 ba · 3,568 sqft · MultiFamily public records · 12 Days on market

Built 1890 5,227 sqft lot Est $685k · 12% under

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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 +14.6/30.0
• ARV discount +13.1/15.0
• Appreciation +10.0/10.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Great investment opportunity. Multi-family home available. Sold as is. Inquire for more details.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1890

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water connected; Public sewer connected; Oil fuel tank located in basement
• Home design: Multi-family 2-family property
• Construction: Concrete foundation; Flat roof; Other construction description
• Exterior features: Deck; Vinyl siding

Interior

• Bedrooms: 6 total bedrooms (across units)
• Bathrooms: 2 full bathrooms (across units)
• Heating & cooling: Hot water heating (oil-fired); Window-unit cooling
• Interior features: 12 total rooms; Finished attic; Full unfinished basement; Washer and dryer provided for each unit; Window unit cooling
• Laundry & utility: Washer and dryer in all units; 40-gallon electric hot water tanks

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive. Per door: $73/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $526k (12.3% below list).
• Recommended offer: $526k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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+.
• 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.
• Zoned schools: Waltersville School (math 7% / reading 17%, grade F, #500 of 553 statewide, top 91%, 451 students, 92% FRL); Warren Harding High School (math 2% / reading 8%, grade F, #192 of 194 statewide, top 100%, 1,109 students, 82% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 32 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $5,264/mo this rent would consume 138% of the median local household income ($46k/yr) (locally 910% 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 $64k of equity ($4k loan paydown + $60k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.3% rent growth), your $168k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$103k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $255k; list at $600k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — 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 $526,400 (12.3% 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 1890 — 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: 0.88% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $685,056
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
690 William St	0.26mi	6/3.0	3,493 (-2%)	3mo	$625,000	$179	80
289 Harriet St	0.15mi	7/4.0 (+1)	3,400 (-5%)	6mo	$725,000	$213	73
528 William St	0.12mi	6/3.0	3,328 (-7%)	13mo	$600,000	$180	70
438 Park St	0.24mi	7/3.0 (+1)	3,200 (-10%)	4mo	$675,000	$211	61
642 William St	0.22mi	6/3.0	3,277 (-8%)	19mo	$450,000	$137	59
1568 E Main St	0.47mi	6/3.0	3,307 (-7%)	8mo	$635,000	$192	58
554 Huntington Rd	0.73mi	6/3.5	3,503 (-2%)	9mo	$680,000	$194	55
750 William St	0.32mi	7/5.0 (+1)	4,075 (+14%)	2mo	$670,000	$164	48
1296 Noble Ave	0.64mi	6/2.0	3,264 (-8%)	7mo	$550,000	$169	44
90 Roosevelt St	0.55mi	6/3.0	3,179 (-11%)	14mo	$600,000	$189	43
317 Orchard St	0.50mi	6/3.0	3,062 (-14%)	15mo	$590,000	$193	38
198-200 Wells St	0.69mi	7/3.0 (+1)	3,186 (-11%)	14mo	$660,000	$207	31

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

Projected returns pro-forma

10.0% appreciation · 4.35% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 3.04×
• Total profit: $343,248
• Equity at exit: $540,437

10-year hold

• IRR: 22.8%
• Equity multiple: 7.07×
• Total profit: $1,019,039
• Equity at exit: $1,165,474

Cash invested: $167,972 (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 06608

• Home prices YoY: 3.6%
• Rents YoY: 4.3%
• Active inventory: 32
• Price-to-rent: 19.0×

Monthly cashflow live

• Estimated rent: $5,264 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$617 /mo · $7,403/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,105
• Net cashflow: $146

Break-even live

Break-even rent $5,080

Max offer price $599,900

Occupancy floor 92%

Sensitivity live

Price	-10% $485	-5% $316	+0% $146	+5% $-24	+10% $-194
Rent	-10% $-270	-5% $-62	+0% $146	+5% $354	+10% $562
Rate	-1.0pp $448	-0.5pp $298	base $146	+0.5pp $-10	+1.0pp $-168

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$5,264
Total (2 units)			$5,264

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Catherine St Bridgeport, CT	7.0	2.5	4104	$2,900	$0.71	16d	1	0.65mi
1566 North Ave Bridgeport, CT	5.0	1.0	2837	$2,500	$0.88	45d	1	1.12mi
41 Perth St Bridgeport, CT	6.0	2.0	2640	$2,200	$0.83	16d	1	1.45mi

Listing history 11 events

1. 2026-06-22
   days on market $599,900 Active 12 DOM
2. 2026-06-18
   days on market $599,900 Active 9 DOM
3. 2026-06-17
   days on market $599,900 Active 8 DOM
4. 2026-06-16
   days on market $599,900 Active 7 DOM
5. 2026-06-15
   days on market $599,900 Active 6 DOM
6. 2026-06-13
   days on market $599,900 Active 4 DOM
7. 2026-06-13
   days on market $599,900 Active 3 DOM
8. 2026-06-10
   statusdays on market $599,900 Active 1 DOM
9. 2026-06-09
   days on market $599,900 Coming Soon 2 DOM
10. 2026-06-07
    remarks 577-char remark
11. 2026-06-07
    listed $599,900 Coming Soon 1 DOM

ⓘ 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: $7,403 · $617/mo
• Projected year-2 tax: $10,120 · $843/mo
• Expected delta: +$2,717/yr (+$226/mo · 36.7%)

ⓘ 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: $63,168
• − Mortgage interest: −$33,604
• − Property taxes: −$7,403
• − Insurance: −$3,000
• − Repairs & maintenance: −$5,053
• − Management: −$5,053
• − Depreciation: −$17,452
• Taxable loss: −$8,397
• Est. tax savings @ 24.0%: +$2,015
• After-tax cash flow: $3,764/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): 12,146
• Household income: $45,754
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 910.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Black 22% Two or more races 19% White 4% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 32% Cuban 1% Dominican 14%
• Common ancestry: Hispanic 1% Russian 1% Estonian 0%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 33% English-only · Spanish 56% French/Haitian/Cajun 4% Other Asian/Pacific 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: ▲ 18.29%
• Current HPI: 530.5125
• Rent YoY: ▲ 4.35%
• 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

+257.1% since first listed

7 events — show timeline

• 2026-06-07 Coming Soon $599,900 Smart MLS
• 2019-02-19 Sold (Public Records) $255,000 Public Records
• 2017-11-10 Sold (MLS) $65,000 Smart MLS
• 2017-11-09 Listing Removed — Smart MLS
• 2017-09-10 Listed $69,000 Smart MLS
• 2007-02-21 Sold (Public Records) $365,000 Public Records
• 1988-12-23 Sold (Public Records) $168,000 Public Records

Property tax history

+0.1%/yr

Latest (2023): $7,403 · +0.0% YoY. Source: county tax records.