363-65 Carroll Ave · Bridgeport, CT 06607

$319,900

4 bd · 2.0 ba · 2,468 sqft · MultiFamily · 11 Days on market

Built 1905 Fair condition 5,662 sqft lot Est $457k · 30% under

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Why this score? — see what drove the A- 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 +28.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• 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

MULTIPLE OFFERS, HIGHEST AND BEST BY 3::00 SATURDAY 10/25. Opportunity is knocking on this two family home in need of extensive updating of the entire house, garage/shed, driveway and sidewalk. There is a walk up 3rd level with 3 finished rooms. Home and property are sold As Is, Where Is and buyer is responsible to clear out home and property. Property might not qualify for a conventional mortgage. Sale is subject to Probate Court approval.

Key facts

• 5,662 sq ft lot
• Built 1905
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $320k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $524/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• 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+.
• 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: Warren Harding High School (math 2% / reading 8%, grade F, #192 of 194 statewide, top 100%, 1,109 students, 82% FRL) — zoned schools average 82% FRL vs 97% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 33 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $4,125/mo this rent would consume 99% 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 $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $90k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $319,900

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.29% ✓
• Cap rate: 10.22%
• Cash-on-cash: 14.04%
• DSCR: 1.62
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $456,580
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40-42 5th St	0.25mi	4/3.0	2,416 (-2%)	1mo	$430,000	$178	80
705 Central Ave	0.12mi	4/2.0	2,578 (+4%)	11mo	$450,000	$175	78
239 Beardsley St	0.26mi	4/2.0	2,690 (+9%)	1mo	$565,000	$210	72
520 Carroll Ave	0.15mi	4/2.0	2,342 (-5%)	19mo	$485,000	$207	68
4 Beatrice St	0.30mi	5/3.0 (+1)	2,480 (+0%)	15mo	$535,000	$216	63
180 5th St	0.31mi	4/2.0	2,696 (+9%)	9mo	$490,000	$182	63
247 6th St	0.36mi	5/2.0 (+1)	2,684 (+9%)	4mo	$490,000	$183	60
176 4th St	0.34mi	4/2.0	2,164 (-12%)	18mo	$405,000	$187	48
68 Edwin St	0.51mi	3/3.0 (-1)	2,195 (-11%)	3mo	$428,000	$195	46
76-78 Waterman St	0.42mi	4/2.0	2,136 (-14%)	15mo	$395,000	$185	45
41-43 Orange St	0.19mi	5/3.0 (+1)	2,785 (+13%)	19mo	$365,000	$131	45
64 Adams St	0.55mi	5/2.0 (+1)	2,769 (+12%)	19mo	$380,000	$137	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.6%
• Equity multiple: 3.69×
• Total profit: $241,035
• Equity at exit: $288,191

10-year hold

• IRR: 29.8%
• Equity multiple: 8.34×
• Total profit: $657,444
• Equity at exit: $621,495

Cash invested: $89,572 (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: 12.9×

Monthly cashflow live

• Estimated rent: $4,125 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,798/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$866
• Net cashflow: $1,048

Break-even live

Break-even rent $2,798

Max offer price $319,900

Occupancy floor 70%

Sensitivity live

Price	-10% $1,269	-5% $1,159	+0% $1,048	+5% $937	+10% $827
Rent	-10% $722	-5% $885	+0% $1,048	+5% $1,211	+10% $1,374
Rate	-1.0pp $1,209	-0.5pp $1,129	base $1,048	+0.5pp $965	+1.0pp $881

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,124
Total (2 units)			$4,125

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: $79,975
• Closing costs: $9,597
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
259 6th St Bridgeport, CT	4.0	2.0	2269	$3,000	$1.32	44d	1	0.37mi
136 Sherman St Unit 142 Bridgeport, CT	4.0	1.5	2116	$2,800	$1.32	3d	1	0.73mi
292 Ridgefield Ave Unit 3 Bridgeport, CT	3.0	1.0	1792	$2,450	$1.37	44d	1	0.88mi
292 Ridgefield Ave Unit 2 Bridgeport, CT	4.0	1.0	1792	$2,650	$1.48	44d	1	0.88mi
407 East Ave Bridgeport, CT	5.0	1.0	1720	$3,250	$1.89	3d	1	0.96mi
704 Maple St #704 Bridgeport, CT	3.0	1.5	1948	$2,700	$1.39	24d	1	0.97mi
55 E Main St Bridgeport, CT	3.0	1.0–3.0	1115	$9,085	$8.14	3d	189	0.98mi
273 Judson Pl Unit 1 Bridgeport, CT	3.0	1.0	3127	$3,000	$0.96	24d	1	1.00mi
982 Pembroke St Unit 2L Bridgeport, CT	4.0	1.0	2043	$2,475	$1.21	4d	1	1.01mi
530 Jane St Unit 2B Bridgeport, CT	3.0	2.0	2217	$3,400	$1.53	44d	1	1.06mi
695 Shelton St Unit 1st Floor Bridgeport, CT	3.0	1.0	2387	$2,200	$0.92	44d	1	1.13mi
426 Jane St Unit 1 Bridgeport, CT	3.0	1.0	2886	$2,400	$0.83	3d	1	1.14mi
1325 Pembroke St Unit 2nd Floor Bridgeport, CT	3.0	1.0	1600	$3,500	$2.19	44d	1	1.23mi
479 Putnam St Unit 3R Bridgeport, CT	5.0	2.0	2000	$2,350	$1.18	20d	1	1.37mi
281 Harriet St Unit 281 Bridgeport, CT	4.0	2.5	2297	$3,900	$1.70	44d	1	1.37mi
7 Armstrong Pl Bridgeport, CT	5.0	1.0	2449	$2,750	$1.12	24d	1	1.45mi
141 Hicks St Bridgeport, CT	4.0	1.0	2311	$2,400	$1.04	24d	1	1.49mi
36-38 Pleasant St Unit 2 Bridgeport, CT	4.0	1.0	2395	$2,700	$1.13	15d	1	1.50mi

Listing history 2 events

1. 2025-10-29
   status Under Contract
2. 2025-10-15
   listed $319,900 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 · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 54% 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: $49,500
• − Mortgage interest: −$17,919
• − Property taxes: −$4,798
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,960
• − Management: −$3,960
• − Depreciation: −$9,306
• Taxable income: $7,956
• Est. tax owed @ 24.0%: −$1,910
• After-tax cash flow: $10,666/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 · 13 photos

Fair 45/100 Extensive rehab

This two-family home requires extensive repairs and updates to its roof, exterior siding, front porch and steps, and basement. The home is in fair condition and presents an opportunity for significant value increase through repairs and updates.

Repairs flagged

• Major roof — The roof appears to be in poor condition with visible damage.
• Major exterior siding — The siding is peeling and in need of repainting.
• Major front porch and steps — The porch and steps are in poor condition with visible cracks and wear.
• Major basement — The basement appears to be in poor condition with visible water damage and debris.

Value-add opportunities

• Resale repair roof — A new roof will significantly improve the home's curb appeal and value.
• Resale repair exterior siding — Repainting and repairing the siding will improve the home's appearance and value.
• Resale repair front porch and steps — A new porch and steps will enhance the home's curb appeal and value.
• Resale repair basement — Repairing the basement will improve the home's overall condition and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition with visible damage.	Major	$15,000–50,000
exterior siding · The siding is peeling and in need of repainting.	Major	$15,000–50,000
front porch and steps · The porch and steps are in poor condition with visible cracks and wear.	Major	$15,000–50,000
basement · The basement appears to be in poor condition with visible water damage and debris.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale repair roof — A new roof will significantly improve the home's curb appeal and value. ↑
• Resale repair exterior siding — Repainting and repairing the siding will improve the home's appearance and value. ↑
• Resale repair front porch and steps — A new porch and steps will enhance the home's curb appeal and value. ↑
• Resale repair basement — Repairing the basement will improve the home's overall condition and 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): 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

2 events — show timeline

• 2025-10-29 Pending — Smart MLS
• 2025-10-15 Listed $319,900 Smart MLS