33-35 Granfield Ave · Bridgeport, CT 06610

$535,000

4 bd · 4.0 ba · 1,848 sqft · MultiFamily public records · 205 Days on market

Built 1887 3,484 sqft lot Est $484k · 10% over ↓ 3% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +4.0/5.0
• ARV discount +2.8/15.0
• Rent growth +2.5/5.0
• 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 (5+ Unit). Listing-text estimate: 5 units. confirmed

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

* * * * Turnkey 5-Unit Investment Property with Major Upside * * * Welcome to 33-35 Granfield Avenue - a fully detached five-family asset offering strong fundamentals and excellent income growth potential. The layout includes a mix of studios and junior one-bedrooms, ideal for long-term rental stability in a high-demand area. One unit has been fully renovated and is ready for occupancy. Recent upgrades include a brand-new boiler installed in 2024 and a new roof, minimizing near-term capital expenses. The property is serviced by both gas and electric utilities. Current rents are below market, presenting a clear opportunity to increase cash flow over time. Once stabilized, the proper

Key facts

• Fully renovated
• New boiler
• Fully detached

Tags

• FULLY DETACHED
• FULLY RENOVATED
• NEW BOILER
• NEW ROOF
• HIGH-DEMAND AREA
• PUBLIC TRANSPORTATION

Property features AI

Finance

• Financial info: Assessed value: $139,720

Exterior

• Utilities: Public water connected; Hot water: Other
• Home design: Multi-family property (5+ units)
• Construction: Masonry construction; Asphalt shingle roof; Stone and stucco siding; Masonry foundation; Built prior to public record living area of 1848
• Exterior features: Level lot; Beach rights

Interior

• Bedrooms: 5 units (multi-family)
• Bathrooms: 5 full bathrooms
• Heating & cooling: Hot air heating; Natural gas heat
• Interior features: 15 total rooms; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 5 × 1-bed/1.0-bath units multifamily listed at $535k.

Deal economics

• At list price, monthly cash flow is $3k ($34k/yr) — positive. Per door: $574/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $535k).
• Recommended offer: $471k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.7% 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: 68 active listings in the ZIP; 32 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 $8,109/mo this rent would consume 188% of the median local household income ($52k/yr) (locally 1368% 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 $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $150k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($471k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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: built in 1887 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; major wind risk, 54% 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 $470,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% 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 1887 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.52% ✓
• Cap rate: 12.73%
• Cash-on-cash: 23.00%
• DSCR: 2.02
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $484,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
184 Pearl Harbor St	0.12mi	4/2.0	1,700 (-8%)	2mo	$445,000	$262	71
96 Manila Pl	0.44mi	4/3.0	1,812 (-2%)	8mo	$465,000	$257	66
323 Pearl Harbor St	0.28mi	4/2.5	1,700 (-8%)	7mo	$450,000	$265	61
460 Stonybrook Rd	0.58mi	4/2.0	1,917 (+4%)	3mo	$525,000	$274	56
310 Bond St	0.41mi	4/2.0	1,712 (-7%)	8mo	$365,000	$213	54
276 Bond St	0.42mi	4/2.0	1,712 (-7%)	10mo	$475,000	$277	52
989 Pearl Harbor St	0.38mi	4/2.0	1,700 (-8%)	11mo	$550,000	$324	52
271-273 Swanson Ave	0.52mi	4/2.0	2,020 (+9%)	3mo	$485,000	$240	50
25 Clover St	0.46mi	4/2.0	2,071 (+12%)	2mo	$610,000	$295	49
70 Sage Ave	0.47mi	4/2.0	2,052 (+11%)	9mo	$480,000	$234	44
20 Manila Pl	0.40mi	4/2.0	2,093 (+13%)	10mo	$385,000	$184	43
230 Boston Ave	0.50mi	4/2.0	2,066 (+12%)	13mo	$525,000	$254	39

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: 16.0%
• Equity multiple: 1.64×
• Total profit: $96,228
• Equity at exit: $79,770

10-year hold

• IRR: 24.6%
• Equity multiple: 3.13×
• Total profit: $319,396
• Equity at exit: $46,257

Cash invested: $149,800 (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 06610

• Home prices YoY: -7.5%
• Active inventory: 68
• Price-to-rent: 27.5×

Monthly cashflow live

• Estimated rent: $8,109 medium
• Mortgage (P&I): −$2,806
• Tax from tax record: −$506 /mo · $6,071/yr
• Insurance: −$223
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,703
• Net cashflow: $2,872

Break-even live

Break-even rent $4,474

Max offer price $535,000

Occupancy floor 60%

Sensitivity live

Price	-10% $3,175	-5% $3,023	+0% $2,872	+5% $2,720	+10% $2,569
Rent	-10% $2,231	-5% $2,551	+0% $2,872	+5% $3,192	+10% $3,512
Rate	-1.0pp $3,141	-0.5pp $3,008	base $2,872	+0.5pp $2,733	+1.0pp $2,592

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

Units	Beds	Baths	Est. rent
▸ 5× units	1	1	$8,110
Total (5 units)			$8,109

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: $133,750
• Closing costs: $16,050
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
64 Velvet St Bridgeport, CT	3.0	1.0	1430	$2,500	$1.75	12d	1	0.10mi
407 East Ave Bridgeport, CT	5.0	1.0	1720	$3,250	$1.89	3d	1	0.39mi
335 Ridgefield Ave Bridgeport, CT	3.0	1.0	1400	$2,250	$1.61	4d	1	0.44mi
333 Ridgefield Ave Bridgeport, CT	3.0	1.0	1400	$2,250	$1.61	4d	1	0.45mi
172 Swanson Ave Stratford, CT	3.0	1.5	1495	$3,300	$2.21	3d	1	0.46mi
292 Ridgefield Ave Unit 3 Bridgeport, CT	3.0	1.0	1792	$2,450	$1.37	44d	1	0.47mi
292 Ridgefield Ave Unit 2 Bridgeport, CT	4.0	1.0	1792	$2,650	$1.48	44d	1	0.47mi
20 Pearl Harbor Cir Bridgeport, CT	5.0	2.0	2290	$3,500	$1.53	3d	1	0.50mi
75 Judson Pl Bridgeport, CT	3.0	1.5	1384	$2,850	$2.06	15d	1	0.53mi
53 Pixlee Pl Unit 2nd Bridgeport, CT	3.0	1.0	1475	$2,195	$1.49	4d	1	0.54mi
479 Putnam St Unit 3R Bridgeport, CT	5.0	2.0	2000	$2,350	$1.18	20d	1	0.93mi
695 Shelton St Unit 1st Floor Bridgeport, CT	3.0	1.0	2387	$2,200	$0.92	44d	1	0.96mi
1325 Pembroke St Unit 2nd Floor Bridgeport, CT	3.0	1.0	1600	$3,500	$2.19	44d	1	0.96mi
530 Jane St Unit 2B Bridgeport, CT	3.0	2.0	2217	$3,400	$1.53	44d	1	0.98mi
672 Brooks St Bridgeport, CT	4.0	1.0	1232	$3,300	$2.68	15d	1	1.00mi
587 Brooks St Unit !st floor Bridgeport, CT	3.0	2.0	1500	$2,400	$1.60	44d	1	1.04mi
704 Maple St #704 Bridgeport, CT	3.0	1.5	1948	$2,700	$1.39	24d	1	1.05mi
2048 E Main St Bridgeport, CT	4.0	2.0	2000	$3,000	$1.50	44d	1	1.08mi
481 Hollister Ave Unit 2nd Bridgeport, CT	3.0	1.0	1250	$2,000	$1.60	24d	1	1.10mi
982 Pembroke St Unit 2L Bridgeport, CT	4.0	1.0	2043	$2,475	$1.21	4d	1	1.13mi
415 Logan St Unit 2nd Floor Bridgeport, CT	3.0	1.0	1500	$2,000	$1.33	44d	1	1.14mi
259 6th St Bridgeport, CT	4.0	2.0	2269	$3,000	$1.32	44d	1	1.17mi
11 Colony St Stratford, CT	4.0	2.0	1450	$3,700	$2.55	4d	1	1.20mi
690 William St Unit 2 Bridgeport, CT	3.0	1.0	1746	$2,200	$1.26	24d	1	1.32mi
36-38 Pleasant St Unit 2 Bridgeport, CT	4.0	1.0	2395	$2,700	$1.13	15d	1	1.32mi
153 Hollister Ave Bridgeport, CT	3.0	1.0	1350	$1,900	$1.41	4d	1	1.39mi
136 Sherman St Unit 142 Bridgeport, CT	4.0	1.5	2116	$2,800	$1.32	4d	1	1.42mi
70 Hawthorne St Bridgeport, CT	3.0	1.5	2376	$3,500	$1.47	44d	1	1.45mi
141 Hicks St Bridgeport, CT	4.0	1.0	2311	$2,400	$1.04	24d	1	1.45mi
281 Harriet St Unit 281 Bridgeport, CT	4.0	2.5	2297	$3,900	$1.70	44d	1	1.47mi
279 Harriet St Bridgeport, CT	3.0	1.5	1392	$3,000	$2.16	24d	1	1.47mi
588 E Main St Unit C Bridgeport, CT	3.0	1.0	1400	$2,475	$1.77	15d	1	1.47mi

Listing history 6 events

1. 2026-05-03
   status Under Contract
2. 2026-05-03
   status Active
3. 2026-02-06
   status Under Contract
4. 2026-02-03
   price $535,000
5. 2026-01-07
   price $545,000
6. 2025-07-16
   listed $550,000 Active

ⓘ 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: $6,071 · $506/mo
• Projected year-2 tax: $8,760 · $730/mo
• Expected delta: +$2,689/yr (+$224/mo · 44.3%)

ⓘ 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) · 67% 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 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: $97,308
• − Mortgage interest: −$29,968
• − Property taxes: −$6,071
• − Insurance: −$2,675
• − Repairs & maintenance: −$7,785
• − Management: −$7,785
• − Depreciation: −$15,564
• Taxable income: $27,461
• Est. tax owed @ 24.0%: −$6,591
• After-tax cash flow: $27,870/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): 22,020
• Household income: $51,634
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 1368.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 51% Black 23% White 20% Two or more races 14% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 30% Dominican 6%
• Common ancestry: Romanian 4% Estonian 3% Hispanic 2%
• Foreign-born: 31% · Canada, Jamaica, Vietnam
• Languages at home: 47% English-only · Spanish 40% Other Indo-European 5% Russian/Polish/Slavic 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: ▼ -29.78%
• Current HPI: 370.1432
• 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

-2.7% since first listed

6 events — show timeline

• 2026-05-03 Pending — Smart MLS
• 2026-05-03 Relisted — Smart MLS
• 2026-02-06 Pending — Smart MLS
• 2026-02-03 Price Changed $535,000 Smart MLS
• 2026-01-07 Price Changed $545,000 Smart MLS
• 2025-07-16 Listed $550,000 Smart MLS

Property tax history

-2.1%/yr

Latest (2023): $6,071 · +0.0% YoY. Source: county tax records.