255 Clover St · Bridgeport, CT 06615

$649,900

5 bd · 3.0 ba · 3,008 sqft · MultiFamily public records · 14 Days on market

Built 1928 5,227 sqft lot $216/sqft · 7% above area Est $607k · 7% over

---

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 +23.1/30.0
• DSCR +7.4/10.0
• 1% rule +5.7/10.0
• ARV discount +4.3/15.0
• Livability +4.0/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 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

Rare 3-family investment opportunity in Stratford known as 255-257-259 Clover St. Well-kept multi-unit property featuring three residential units on one parcel with strong income potential. Each unit has separate utilities. Ideal for investors or owner-occupants. Conveniently located near shopping, schools, restaurants, major highways, and Metro-North. Off-street parking. Great opportunity to own an income-producing property in a convenient location.

Key facts

• Separate utilities
• Commuter location
• Off street parking

Tags

• MULTI UNIT PROPERTY
• STRONG INCOME POTENTIAL
• SEPARATE UTILITIES
• OFF STREET PARKING
• CONVENIENTLY LOCATED
• COMMUTER LOCATION

What this means for you Summary

Snapshot

• This is a 3 × 3-bed/1.0-bath units multifamily listed at $650k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $390/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $650k).
• Cap rate 8.5% 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-.
• Stratford School District (urban): math 22% / reading 38% proficiency, ranked #122 of 153 in CT (top 80%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 73 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $6,925/mo this rent would consume 102% of the median local household income ($82k/yr) (locally 507% 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 $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 33y 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 $385k; list at $650k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% 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 $649,900

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. Built in 1928 — 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: 1.07% ✓
• Cap rate: 8.45%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 7.8

CMA / ARV

• ARV (median comp): $607,292
• List price: $649,900
• Delta: 7.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
255 Clover St	0.00mi	5/3.0	3,008 (0%)	0mo	$721,000	$240	100
264 Clover St	0.02mi	5/3.0	2,684 (-11%)	1mo	$500,000	$186	80
116 Clover St	0.15mi	6/3.0 (+1)	2,687 (-11%)	1mo	$575,000	$214	70
172 Mary Ave	0.32mi	6/3.0 (+1)	3,080 (+2%)	12mo	$725,000	$235	66
70 Manila Pl	0.52mi	6/3.0 (+1)	3,086 (+3%)	4mo	$425,000	$138	63
335 Wiklund Ave	0.36mi	4/3.0 (-1)	2,892 (-4%)	11mo	$660,000	$228	63
174 Franklin Ave	0.23mi	6/3.0 (+1)	2,756 (-8%)	11mo	$565,000	$205	61
198 Prince St	0.58mi	6/3.0 (+1)	2,983 (-1%)	9mo	$535,000	$179	59
394 Bishop Ave	0.65mi	4/2.0 (-1)	3,014 (+0%)	8mo	$392,000	$130	54
262 Pixlee Pl	0.48mi	6/3.0 (+1)	3,242 (+8%)	7mo	$610,000	$188	54
652 Bishop Ave	0.43mi	6/3.0 (+1)	2,686 (-11%)	5mo	$550,000	$205	53
384 Thompson St	0.47mi	6/3.0 (+1)	2,618 (-13%)	1mo	$515,000	$197	50

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-30,766
• Equity at exit: $96,902

10-year hold

• IRR: 5.2%
• Equity multiple: 1.38×
• Total profit: $69,164
• Equity at exit: $56,191

Cash invested: $181,972 (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 06615

• Active inventory: 73
• Price-to-rent: 23.5×

Monthly cashflow live

• Estimated rent: $6,925 high
• Mortgage (P&I): −$3,408
• Tax from tax record: −$621 /mo · $7,454/yr
• Insurance: −$271
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,454
• Net cashflow: $1,171

Break-even live

Break-even rent $5,443

Max offer price $649,900

Occupancy floor 78%

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,924
Total (3 units)			$6,925

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: $162,475
• Closing costs: $19,497
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Pearl Harbor Cir Bridgeport, CT	5.0	2.0	2290	$3,500	$1.53	2d	1	0.56mi
52 Catherine St Unit 2ND Stratford, CT	5.0	2.0	3287	$3,500	$1.06	19d	1	0.94mi
182 Hewitt St Bridgeport, CT	4.0	1.0	3398	$2,800	$0.82	2d	1	1.15mi
259 6th St Bridgeport, CT	4.0	2.0	2269	$3,000	$1.32	43d	1	1.35mi

Listing history 14 events

1. 2026-05-04
   status Under Contract 454-char remark

   Show marketing remark (454 chars)

   Rare 3-family investment opportunity in Stratford known as 255-257-259 Clover St. Well-kept multi-unit property featuring three residential units on one parcel with strong income potential. Each unit has separate utilities. Ideal for investors or owner-occupants. Conveniently located near shopping, schools, restaurants, major highways, and Metro-North. Off-street parking. Great opportunity to own an income-producing property in a convenient location.

2. 2026-04-19
   listed $649,900 Active 454-char remark

   Show marketing remark (454 chars)

   Rare 3-family investment opportunity in Stratford known as 255-257-259 Clover St. Well-kept multi-unit property featuring three residential units on one parcel with strong income potential. Each unit has separate utilities. Ideal for investors or owner-occupants. Conveniently located near shopping, schools, restaurants, major highways, and Metro-North. Off-street parking. Great opportunity to own an income-producing property in a convenient location.

3. 2007-06-27
   soldstatus $385,000
4. 2007-06-26
   soldstatus $375,000 193-char remark

   Show marketing remark (193 chars)

   Large 3 Family, 1St Floor New Bath, Freshly Painted, Hardwood Floors Through Out & Refinished, Excellent Condition, Great Investment Or Owner Occupied, Great Area, Nice Quiet Street.

5. 2007-03-12
   listed $389,900 193-char remark

   Show marketing remark (193 chars)

   Large 3 Family, 1St Floor New Bath, Freshly Painted, Hardwood Floors Through Out & Refinished, Excellent Condition, Great Investment Or Owner Occupied, Great Area, Nice Quiet Street.

6. 1999-01-07
   historical
7. 1998-07-10
   listed $189,900
8. 1995-06-06
   soldstatus $96,000
9. 1995-06-01
   soldstatus $160,000
10. 1994-10-05
    listed $168,900
11. 1993-10-21
    soldstatus $157,000
12. 1993-10-21
    soldstatus $62,800
13. 1993-10-21
    soldstatus $94,200
14. 1993-08-08
    listed $183,900

ⓘ 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: $7,454 · $621/mo
• Projected year-2 tax: $10,681 · $890/mo
• Expected delta: +$3,227/yr (+$269/mo · 43.3%)

ⓘ 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 51% 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: $83,100
• − Mortgage interest: −$36,405
• − Property taxes: −$7,454
• − Insurance: −$3,250
• − Repairs & maintenance: −$6,648
• − Management: −$6,648
• − Depreciation: −$18,906
• Taxable income: $3,790
• Est. tax owed @ 24.0%: −$910
• After-tax cash flow: $13,138/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: Stratford School District
• NCES district ID: 0904440
• Math proficiency: 22% ▼ -12.00%
• Reading proficiency: 38% ▼ -10.00%
• Median HH income: $67,912
• Composite: 27.85/100
• National rank: #6877
• State rank: #122 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

• County: Fairfield County · 765,532 people
• City population: 149,153
• Metro: Bridgeport-Stamford-Norwalk, CT
• Population (ZIP): 17,136
• Household income: $81,534
• Rent vs Own: 31.9% rent · 68.1% own
• Severe rent burden: 507.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 53% Hispanic / Latino 24% Black 18% Two or more races 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 13%
• Common ancestry: Romanian 5% Hispanic 3% Lithuanian 2%
• Foreign-born: 18% · Canada, South Korea, Jamaica
• Languages at home: 74% English-only · Spanish 17% French/Haitian/Cajun 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: ▼ -359.68%
• Current HPI: 230.0031
• 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

+253.4% since first listed

14 events — show timeline

• 2026-05-04 Pending — Smart MLS
• 2026-04-19 Listed $649,900 Smart MLS
• 2007-06-27 Sold (Public Records) $385,000 Public Records
• 2007-06-26 Sold (MLS) $375,000 Smart MLS
• 2007-03-12 Listed $389,900 Smart MLS
• 1999-01-07 Listing Removed — Smart MLS
• 1998-07-10 Listed $189,900 Smart MLS
• 1995-06-06 Sold (Public Records) $96,000 Public Records
• 1995-06-01 Sold (MLS) $160,000 Smart MLS
• 1994-10-05 Listed $168,900 Smart MLS
• 1993-10-21 Sold (Public Records) $94,200 Public Records
• 1993-10-21 Sold (Public Records) $62,800 Public Records
• 1993-10-21 Sold (MLS) $157,000 Smart MLS
• 1993-08-08 Listed $183,900 Smart MLS

Property tax history

+1.2%/yr

Latest (2023): $7,454 · +1.9% YoY. Source: county tax records.