396 Benham Ave · Bridgeport, CT 06604

$679,990

8 bd · 4.0 ba · 4,719 sqft · MultiFamily public records · 12 Days on market

Built 1887 4,791 sqft lot Est $595k · 14% over

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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 +27.8/30.0
• DSCR +9.8/10.0
• 1% rule +7.4/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• ARV discount +1.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Rare opportunity to own a true 4-family property in Bridgeport! 396 Benham Avenue features a brand-new roof and offers excellent income-producing potential for both investors and owner-occupants alike. Whether you're looking to expand your portfolio or live in one unit while collecting rental income from the others, this property offers incredible versatility and long-term upside. Conveniently located near shopping, schools, public transportation, and major highways. Multi-family opportunities like this are hard to find - don't miss your chance to own this rare four-unit property in a strong commuter location! OPEN HOUSE CANCELLED

Key facts

• Brand-new roof
• Versatility
• 4,791 sq ft lot

Tags

• BRAND-NEW ROOF
• INCOME-PRODUCING POTENTIAL
• VERSATILITY
• STRONG COMMUTER LOCATION

Property features AI

Finance

• Other: Total of 4 dwelling units; Total living area reported as 4,719
• Financial info: Assessed value: $209,950
• HOA & community: No HOA details provided

Exterior

• Parking: No parking details provided
• Security: No security details provided
• Utilities: Public water connected; Public sewer connected; 30-gallon hot water tank; Natural gas
• Home design: Multi-family property (4-family)
• Construction: Frame construction; Concrete foundation; Asphalt shingle roof; Built date not provided
• Exterior features: Level lot; Shingle and asbestos siding

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: 8 bedrooms
• Flooring: No flooring details provided
• Bathrooms: 4 full bathrooms
• Heating & cooling: Hot water heating (natural gas); Window unit cooling
• Interior features: 20 total rooms; Full basement with walk-out; Walk-up attic
• Laundry & utility: No laundry appliance details provided

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1.0-bath units multifamily listed at $680k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $504/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $680k).
• Cap rate 9.9% 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 fast (+7.2%/yr); 70 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $8,456/mo this rent would consume 203% of the median local household income ($50k/yr) (locally 2646% 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 $5k of loan paydown is wiped out by about $20k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $190k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 11y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1887 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 41% 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 $679,990

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 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.24% ✓
• Cap rate: 9.95%
• Cash-on-cash: 13.05%
• DSCR: 1.58
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $594,594
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
177 Beechwood Ave	0.39mi	8/3.0	4,551 (-4%)	18mo	$550,000	$121	57
1786 North Ave	0.36mi	8/4.0	4,061 (-14%)	13mo	$658,000	$162	49
276 West Ave	0.62mi	8/4.0	4,475 (-5%)	17mo	$565,000	$126	48

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 · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 7.1%
• Equity multiple: 1.29×
• Total profit: $55,608
• Equity at exit: $101,389

10-year hold

• IRR: 19.9%
• Equity multiple: 3.00×
• Total profit: $381,254
• Equity at exit: $58,793

Cash invested: $190,397 (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 06604

• Home prices YoY: -5.4%
• Rents YoY: 7.2%
• Active inventory: 70
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $8,456 high
• Mortgage (P&I): −$3,566
• Tax from tax record: −$760 /mo · $9,122/yr
• Insurance: −$283
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,776
• Net cashflow: $2,015

Break-even live

Break-even rent $5,905

Max offer price $679,990

Occupancy floor 71%

Sensitivity live

Price	-10% $2,400	-5% $2,208	+0% $2,015	+5% $1,823	+10% $1,630
Rent	-10% $1,347	-5% $1,681	+0% $2,015	+5% $2,349	+10% $2,683
Rate	-1.0pp $2,358	-0.5pp $2,188	base $2,015	+0.5pp $1,839	+1.0pp $1,660

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$8,456
Total (4 units)			$8,456

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: $169,998
• Closing costs: $20,400
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Catherine St Bridgeport, CT	7.0	2.5	4104	$2,900	$0.71	15d	1	0.44mi

Listing history 6 events

1. 2026-06-01
   status $679,990 Under Contract 12 DOM
2. 2026-05-31
   remarks 641-char remark
3. 2026-05-31
   days on market $679,990 Active 12 DOM
4. 2026-05-19
   listed $679,990 Active
5. 2015-07-26
   historical
6. 2015-07-06
   listed $240,000

ⓘ 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: $9,122 · $760/mo
• Projected year-2 tax: $11,837 · $986/mo
• Expected delta: +$2,715/yr (+$226/mo · 29.8%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 97% 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 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: $101,472
• − Mortgage interest: −$38,090
• − Property taxes: −$9,122
• − Insurance: −$4,066
• − Repairs & maintenance: −$8,118
• − Management: −$8,118
• − Depreciation: −$19,782
• Taxable income: $14,176
• Est. tax owed @ 24.0%: −$3,402
• After-tax cash flow: $20,781/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): 31,771
• Household income: $50,026
• Rent vs Own: 65.9% rent · 34.1% own
• Severe rent burden: 2646.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 45% White 30% Two or more races 15% Black 15% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 16% Dominican 5%
• Common ancestry: Estonian 5% Russian 3% Romanian 2%
• Foreign-born: 36% · Canada, Jamaica, China
• Languages at home: 47% English-only · Spanish 38% Other Indo-European 10% 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: ▼ -19.24%
• Current HPI: 337.7362
• Rent YoY: ▲ 7.21%
• 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

+183.3% since first listed

3 events — show timeline

• 2026-05-19 Listed $679,990 Smart MLS
• 2015-07-26 Listing Removed — Smart MLS
• 2015-07-06 Listed $240,000 Smart MLS

Property tax history

+0.2%/yr

Latest (2023): $9,122 · +0.0% YoY. Source: county tax records.