393 Laurel Ave #210 · Bridgeport, CT 06605

$149,000

1 bd · 1.0 ba · 733 sqft · Condo public records · 9 Days on market

Built 1972 $255/mo HOA · 15% of rent

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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 +19.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• DSCR +6.1/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is your opportunity to invest in you and own property. This 1 BR 1 BA is move in ready an waiting for you to make it your own updates. This condo unit is located in a secure building minutes away from downtown living with dining, entertainment and sporting events. Enjoy the nearby beach or jump on the Ferry down Long Island Sound. The building has gated assigned parking, laundry facility on site, exercise room and community meeting room. This is a must see and won't last at this price!

Key facts

• Gated community
• Fitness center
• Updated kitchen

Tags

• GATED COMMUNITY
• UPDATED KITCHEN
• FITNESS CENTER
• ASSIGNED PARKING

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $149k.

Deal economics

• At list price, monthly cash flow is $164 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Cap rate 7.6% 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+, 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 (+1.8%/yr); 47 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).
• This rent runs 37% of the median local income ($56k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 4y 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 $116k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 66% 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 $149,000

Questions for the listing agent

1. Built in 1972 — 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: 1.17% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.71%
• DSCR: 1.21
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.62×
• Total profit: $-15,646
• Equity at exit: $22,216

10-year hold

• IRR: -3.0%
• Equity multiple: 0.81×
• Total profit: $-7,902
• Equity at exit: $12,883

Cash invested: $41,720 (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 06605

• Home prices YoY: -14.5%
• Rents YoY: 1.8%
• Active inventory: 47
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$781
• Tax from tax record: −$114 /mo · $1,374/yr
• Insurance: −$62
• HOA: −$255
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $164

Break-even live

Break-even rent $1,535

Max offer price $149,000

Occupancy floor 86%

Sensitivity live

Price	-10% $248	-5% $206	+0% $164	+5% $121	+10% $79
Rent	-10% $26	-5% $95	+0% $164	+5% $232	+10% $301
Rate	-1.0pp $239	-0.5pp $202	base $164	+0.5pp $125	+1.0pp $86

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
273 Colorado Ave Bridgeport, CT	—	1.0	450	$1,295	$2.88	45d	1	0.27mi
631 Colorado Ave Bridgeport, CT	1.0	1.0	366	$1,350	$3.69	45d	1	0.37mi
210 Washington Ave Bridgeport, CT	1.0–2.0	1.0	837	$1,331	$1.59	5d	6	0.51mi
838 Wood Ave Bridgeport, CT	—	1.0	410	$1,295	$3.16	25d	1	0.65mi
80 Cartright St Unit 1G Bridgeport, CT	—	1.0	604	$1,600	$2.65	5d	1	0.72mi
333 State St Bridgeport, CT	1.0	1.0	740	$2,050	$2.77	5d	6	0.75mi
225 Golden Hill St Apt 4D Bridgeport, CT	2.0	1.0	750	$1,800	$2.40	45d	1	0.83mi
213 Golden Hill St Unit 4D Bridgeport, CT	2.0	1.0	750	$1,800	$2.40	45d	1	0.83mi
120 Rennell St Bridgeport, CT	2.0	1.0	750	$1,450	$1.93	4d	1	0.86mi
195 Laurel Pl Bridgeport, CT	1.0	1.0	600	$2,000	$3.33	45d	1	0.86mi
144 Golden Hill St Bridgeport, CT	1.0	1.0	592	$1,675	$2.83	16d	1	0.91mi
325 Lafayette St Bridgeport, CT	3.0	1.0	1118	$1,758	$1.57	4d	2	0.99mi
325 Lafayette St Bridgeport, CT	1.0–3.0	1.0	1065	$1,450	$1.36	45d	2	0.99mi
120 Morgan Ave Bridgeport, CT	1.0	1.0	545	$1,500	$2.75	25d	1	1.05mi
226 Kings Hwy E Fairfield, CT	1.0	1.0	600	$1,650	$2.75	25d	1	1.10mi
80 Taft Ave Bridgeport, CT	1.0–2.0	1.0	645	$1,750	$2.71	45d	2	1.12mi
105 William St Unit A Bridgeport, CT	1.0	1.0	582	$1,350	$2.32	45d	1	1.24mi
55 E Main St Bridgeport, CT	3.0	1.0–3.0	1115	$4,338	$3.89	4d	189	1.27mi
77 Crowther Ave Bridgeport, CT	1.0	1.0	650	$1,900	$2.92	45d	1	1.31mi
585 Ellsworth St Bridgeport, CT	1.0	1.0	650	$1,995	$3.07	45d	2	1.31mi
575 Ellsworth St Bridgeport, CT	1.0	1.0	580	$1,975	$3.40	45d	5	1.32mi
588-612 E Main St Unit 598 Bridgeport, CT	2.0	1.0	750	$1,975	$2.63	12d	1	1.43mi
588-612 E Main St Unit D Bridgeport, CT	2.0	1.0	750	$2,125	$2.83	45d	1	1.43mi
305 Ellsworth St Unit 21-F Bridgeport, CT	1.0	1.0	750	$2,015	$2.69	25d	1	1.44mi
220 King St Bridgeport, CT	2.0	1.0	750	$2,300	$3.07	5d	1	1.45mi
267 Ellsworth St Apt 5C Bridgeport, CT	—	1.0	400	$1,625	$4.06	45d	1	1.47mi
45 Biro St Unit 1 Fairfield, CT	1.0	1.0	660	$1,950	$2.95	45d	1	1.47mi

HOA detail condo

• Monthly dues: $255 · $3,060/yr
• Likely covers: securityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-03-31
   status Under Contract
2. 2026-03-21
   listed $149,000 Active
3. 2022-08-25
   soldstatus $116,000
4. 2022-08-19
   soldstatus $115,000 Closed 495-char remark

   Show marketing remark (495 chars)

   Here is your opportunity to invest in you and own property. This 1 BR 1 BA is move in ready an waiting for you to make it your own updates. This condo unit is located in a secure building minutes away from downtown living with dining, entertainment and sporting events. Enjoy the nearby beach or jump on the Ferry down Long Island Sound. The building has gated assigned parking, laundry facility on site, exercise room and community meeting room. This is a must see and won't last at this price!

5. 2022-05-28
   listed $110,000 Active 495-char remark

   Show marketing remark (495 chars)

   Here is your opportunity to invest in you and own property. This 1 BR 1 BA is move in ready an waiting for you to make it your own updates. This condo unit is located in a secure building minutes away from downtown living with dining, entertainment and sporting events. Enjoy the nearby beach or jump on the Ferry down Long Island Sound. The building has gated assigned parking, laundry facility on site, exercise room and community meeting room. This is a must see and won't last at this price!

ⓘ 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: $1,374 · $114/mo
• Projected year-2 tax: $2,281 · $190/mo
• Expected delta: +$907/yr (+$76/mo · 66.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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 66% 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: $20,910
• − Mortgage interest: −$8,346
• − Property taxes: −$1,374
• − Insurance: −$745
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − HOA: −$3,060
• − Depreciation: −$4,335
• Taxable loss: −$295
• Est. tax savings @ 24.0%: +$71
• After-tax cash flow: $2,034/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): 25,929
• Household income: $56,179
• Rent vs Own: 67.9% rent · 32.1% own
• Severe rent burden: 2367.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 39% White 33% Black 19% Two or more races 12% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 17% Cuban 3% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 25% · Canada, Guatemala, China
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -40.42%
• Current HPI: 238.1786
• Rent YoY: ▲ 1.81%
• 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

+35.5% since first listed

5 events — show timeline

• 2026-03-31 Pending — Smart MLS
• 2026-03-21 Listed $149,000 Smart MLS
• 2022-08-25 Sold (Public Records) $116,000 Public Records
• 2022-08-19 Sold (MLS) $115,000 Smart MLS
• 2022-05-28 Listed $110,000 Smart MLS

Property tax history

-2.4%/yr

Latest (2023): $1,374 · +0.0% YoY. Source: county tax records.