148 Alfred St · Bridgeport, CT 06605

$775,000

5 bd · 3.0 ba · 2,692 sqft · MultiFamily public records · 59 Days on market

Built 1907 4,791 sqft lot Est $751k · at est.

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Why this score? — see what drove the D- 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 +13.4/30.0
• ARV discount +6.1/15.0
• DSCR +4.0/10.0
• Livability +4.0/5.0
• 1% rule +3.7/10.0
• Rent growth +3.0/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Tucked in the heart of Black Rock, steps to the movies, shops, restaurants and new train station waits this totally renovated three family home. Pristine and immaculate with custom finishes, tasteful details and bright open floor plans. Two bedrooms in the first and second floor units and one in the third floor, each unit comes with a newly updated eat-in kitchen, full bath and large family room. Spacious and sunny, the first two floors also have a balcony and front porch for outdoor living space. Parking is plentiful in the long driveway and the location is convenient! FANTASTIC INVESTMENT OPPORTUNITY!

Key facts

• 4,791 sq ft lot
• 2 garage spots
• Built 1907

Property features AI

Exterior

• Parking: Detached garage; 2 garage spaces; Private paved driveway; Paved off-street parking
• Utilities: Public water connected; Public sewer connected
• Home design: Multi-family property (3-family); Multi-family for sale
• Construction: Frame construction; Vinyl siding; Stone foundation; Asphalt shingle roof; Tan exterior color
• Exterior features: Porch; Sidewalk; Gutters; Walk to water

Interior

• Bedrooms: 5 bedrooms (total)
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air, hot water and radiator heating; Natural gas heat fuel; 30-gallon natural gas hot water tank
• Interior features: Total of 10 rooms; Full, unfinished shared basement with storage
• Laundry & utility: All units have hookups; Three laundry hookups in the basement

What this means for you Summary

Snapshot

• This is a 2×2bd/1.0ba + 1×1bd/1.0ba units multifamily listed at $775k.

Deal economics

• At list price, monthly cash flow is $16 ($186/yr) — positive. Per door: $5/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 $674k (13.1% below list).
• Recommended offer: $674k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 5.0% in Bridgeport — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Black Rock School (445 students, 70% FRL); Bassick High School (math 2% / reading 8%, grade F, #192 of 194 statewide, top 100%, 1,009 students, 87% FRL) — zoned schools average 78% FRL vs 97% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+1.8%/yr); 47 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $6,736/mo this rent would consume 144% of the median local household income ($56k/yr) (locally 2367% 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 $23k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($752k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 27y 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 $294k; list at $775k implies a 164% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 66% 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 $673,600 (13.1% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1907 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 6.32%
• Cash-on-cash: 0.09%
• DSCR: 1.00
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $751,068
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 King St	0.07mi	4/2.0 (-1)	2,632 (-2%)	2mo	$642,000	$244	82
166 Alfred St	0.01mi	6/3.0 (+1)	2,357 (-12%)	6mo	$660,000	$280	69
135 Whittier St	0.41mi	4/3.0 (-1)	2,640 (-2%)	6mo	$600,000	$227	67
318-316 Grovers Ave	0.51mi	6/3.0 (+1)	2,807 (+4%)	2mo	$786,500	$280	63
105 Scofield Ave	0.14mi	6/3.0 (+1)	3,050 (+13%)	7mo	$650,000	$213	60
192 Scofield Ave	0.20mi	6/2.0 (+1)	2,441 (-9%)	8mo	$650,000	$266	60
7 Wilson St	0.19mi	6/3.0 (+1)	2,332 (-13%)	10mo	$570,000	$244	56
102 Hansen Ave	0.39mi	6/2.0 (+1)	2,511 (-7%)	9mo	$390,000	$155	54
652-664 Black Rock Tpke	0.70mi	5/4.0	2,816 (+5%)	3mo	$810,000	$288	53
525 Courtland Ave	0.51mi	6/3.0 (+1)	2,935 (+9%)	10mo	$820,000	$279	48
506 Courtland Ave	0.48mi	4/2.0 (-1)	2,356 (-12%)	8mo	$700,000	$297	41
186 Grasmere Ave	0.74mi	5/3.0	2,392 (-11%)	9mo	$751,000	$314	40

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 · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.39×
• Total profit: $-132,496
• Equity at exit: $115,555

10-year hold

• IRR: -11.9%
• Equity multiple: 0.33×
• Total profit: $-145,750
• Equity at exit: $67,008

Cash invested: $217,000 (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: 28.2×

Monthly cashflow live

• Estimated rent: $6,736 high
• Mortgage (P&I): −$4,064
• Tax from tax record: −$919 /mo · $11,026/yr
• Insurance: −$323
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,415
• Net cashflow: $16

Break-even live

Break-even rent $6,716

Max offer price $775,000

Occupancy floor 95%

Sensitivity live

Price	-10% $454	-5% $235	+0% $16	+5% $-204	+10% $-423
Rent	-10% $-517	-5% $-251	+0% $16	+5% $282	+10% $548
Rate	-1.0pp $406	-0.5pp $213	base $16	+0.5pp $-185	+1.0pp $-390

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,586
1× unit	1	1	$2,151
Total (3 units)			$6,736

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: $193,750
• Closing costs: $23,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 Grovers Ave Bridgeport, CT	4.0	1.0	2372	$3,500	$1.48	24d	1	0.54mi
108 New England Ave Fairfield, CT	5.0	4.5	3225	$7,500	$2.33	44d	1	0.55mi
82 Sunrise Ave #82 Fairfield, CT	4.0	3.0	2195	$3,500	$1.59	44d	1	0.66mi
351 Clinton Ave Unit 2 Bridgeport, CT	4.0	2.0	3117	$2,750	$0.88	3d	1	1.35mi
107 Benson Pl Fairfield, CT	4.0	2.5	2240	$7,750	$3.46	44d	1	1.36mi
38 Pepperbush Ln Fairfield, CT	5.0	3.0	2860	$7,500	$2.62	12d	1	1.40mi
38 Pepperbush Ln Fairfield, CT	5.0	3.5	3190	$7,500	$2.35	24d	1	1.40mi

Listing history 18 events

1. 2026-05-11
   status Under Contract
2. 2026-04-27
   historical Under Contract - Continue to Show
3. 2026-04-10
   price $775,000
4. 2026-04-10
   status Active
5. 2026-03-11
   historical
6. 2026-02-12
   listed $792,000 Active
7. 2026-02-05
   historical $792,000
8. 2013-11-04
   soldstatus $294,000 610-char remark

   Show marketing remark (610 chars)

   Tucked in the heart of Black Rock, steps to the movies, shops, restaurants and new train station waits this totally renovated three family home. Pristine and immaculate with custom finishes, tasteful details and bright open floor plans. Two bedrooms in the first and second floor units and one in the third floor, each unit comes with a newly updated eat-in kitchen, full bath and large family room. Spacious and sunny, the first two floors also have a balcony and front porch for outdoor living space. Parking is plentiful in the long driveway and the location is convenient! FANTASTIC INVESTMENT OPPORTUNITY!

9. 2013-10-31
   soldstatus $294,000
10. 2013-10-18
    listed $275,000 610-char remark

    Show marketing remark (610 chars)

    Tucked in the heart of Black Rock, steps to the movies, shops, restaurants and new train station waits this totally renovated three family home. Pristine and immaculate with custom finishes, tasteful details and bright open floor plans. Two bedrooms in the first and second floor units and one in the third floor, each unit comes with a newly updated eat-in kitchen, full bath and large family room. Spacious and sunny, the first two floors also have a balcony and front porch for outdoor living space. Parking is plentiful in the long driveway and the location is convenient! FANTASTIC INVESTMENT OPPORTUNITY!

11. 2012-01-19
    soldstatus $25,000
12. 2006-05-06
    historical
13. 2005-12-28
    listed $385,000
14. 1999-07-29
    soldstatus $99,000
15. 1999-05-28
    soldstatus $90,000
16. 1999-03-08
    listed $99,900
17. 1999-03-05
    soldstatus $55,000
18. 1999-02-12
    listed $59,000

ⓘ 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: $11,026 · $919/mo
• Projected year-2 tax: $13,806 · $1,150/mo
• Expected delta: +$2,780/yr (+$232/mo · 25.2%)

ⓘ 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 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: $80,832
• − Mortgage interest: −$43,412
• − Property taxes: −$11,026
• − Insurance: −$3,875
• − Repairs & maintenance: −$6,467
• − Management: −$6,467
• − Depreciation: −$22,545
• Taxable loss: −$12,960
• Est. tax savings @ 24.0%: +$3,110
• After-tax cash flow: $3,296/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

+1213.6% since first listed

18 events — show timeline

• 2026-05-11 Pending — Smart MLS
• 2026-04-27 Contingent — Smart MLS
• 2026-04-10 Price Changed $775,000 Smart MLS
• 2026-04-10 Relisted — Smart MLS
• 2026-03-11 Listing Removed — Smart MLS
• 2026-02-12 Listed $792,000 Smart MLS
• 2026-02-05 Coming Soon $792,000 Smart MLS
• 2013-11-04 Sold (MLS) $294,000 Smart MLS
• 2013-10-31 Sold (Public Records) $294,000 Public Records
• 2013-10-18 Listed $275,000 Smart MLS
• 2012-01-19 Sold (Public Records) $25,000 Public Records
• 2006-05-06 Listing Removed — Smart MLS
• 2005-12-28 Listed $385,000 Smart MLS
• 1999-07-29 Sold (MLS) $99,000 Smart MLS
• 1999-05-28 Sold (Public Records) $90,000 Public Records
• 1999-03-08 Listed $99,900 Smart MLS
• 1999-03-05 Sold (MLS) $55,000 Smart MLS
• 1999-02-12 Listed $59,000 Smart MLS

Property tax history

+2.8%/yr

Latest (2023): $11,026 · +0.0% YoY. Source: county tax records.