606 Wilmot Ave #4 · Bridgeport, CT 06607

$65,000

2 bd · 1.0 ba · 620 sqft · Condo · 5 Days on market

Built 1948 $590/mo HOA

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Why this score? — see what drove the B+ 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

Updated 2 bedroom unit located in a co-op community. There is a washer & dryer in the unit. Very convenient commuter location close to 95 located near the Steel Point Development Project.

Key facts

• $590 HOA
• Built 1948
• Listed 5 days

Property features AI

Finance

• Other: No pets allowed; Nearby amenities include basketball court, public transportation, and proximity to bus lines; Located in Fairfield County, Connecticut
• HOA & community: Monthly association fee ($590) covering grounds maintenance, water, sewer, property management, and taxes; Has homeowners association

Exterior

• Utilities: Public water connected; Public sewer connected
• Home design: Co-op condo; Part of a 48-unit complex (Bridgeport Wilmot Apt-Coop); End unit
• Construction: Brick construction
• Exterior features: Brick exterior; Level lot

Interior

• Kitchen: Oven/Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms; 3 levels in unit
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiator heat; Natural gas heating
• Interior features: Full, unfinished shared basement with storage and concrete floor; Apartment-style unit
• Laundry & utility: Washer and dryer included; Domestic hot water

🏢 Co-op / cooperative unit. The $65,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Cap rate 13.2% 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: 33 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• This rent runs 43% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $7k of equity ($449 loan paydown + $6k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 21y 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 $18k; list at $65k implies a 261% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent; built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1948 — 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: 2.75% ✓
• Cap rate: 13.19%
• Cash-on-cash: 24.63%
• DSCR: 2.10
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 43.0%
• Equity multiple: 4.27×
• Total profit: $59,583
• Equity at exit: $58,557

10-year hold

• IRR: 37.3%
• Equity multiple: 9.66×
• Total profit: $157,526
• Equity at exit: $126,281

Cash invested: $18,200 (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 06607

• Home prices YoY: 4.7%
• Active inventory: 33
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,788 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$590
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $374

Break-even live

Break-even rent $1,315

Max offer price $65,000

Occupancy floor 74%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
647 Union Ave Unit 2 Bridgeport, CT	2.0	1.0	750	$1,675	$2.23	3d	1	0.14mi
145 Cowles St Unit B7 Bridgeport, CT	1.0	1.0	600	$1,325	$2.21	3d	1	0.31mi
1525 Central Ave Bridgeport, CT	1.0	1.0	625	$1,550	$2.48	43d	3	0.48mi
222 Beardsley St Unit 3rd floor Bridgeport, CT	2.0	1.0	732	$2,000	$2.73	43d	1	0.49mi
1150 Ogden Street Ext Unit 102 Bridgeport, CT	1.0	1.0	700	$1,425	$2.04	14d	1	0.67mi
556 Hollister St Stratford, CT	1.0–2.0	1.0	725	$2,295	$3.17	11d	4	0.69mi
192 Peace St Unit 1st floor Stratford, CT	2.0	1.0	712	$2,000	$2.81	43d	1	0.82mi
588-612 E Main St Unit 598 Bridgeport, CT	2.0	1.0	750	$1,975	$2.63	10d	1	0.92mi
588-612 E Main St Unit D Bridgeport, CT	2.0	1.0	750	$2,125	$2.83	43d	1	0.92mi
86 Birdsey St Unit 3R Bridgeport, CT	1.0	1.0	650	$1,350	$2.08	43d	1	0.95mi
1254 Pembroke St Unit 1st Floor Bridgeport, CT	2.0	1.0	738	$1,850	$2.51	14d	1	0.97mi
855 Main St Bridgeport, CT	1.0	1.0	490	$2,380	$4.86	3d	10	0.99mi
855 Main St Bridgeport, CT	1.0	1.0	490	$2,380	$4.86	19d	10	0.99mi
250 N Bishop Ave Bridgeport, CT	1.0	1.0	611	$1,425	$2.33	23d	2	1.04mi
250 N Bishop Ave #19 Bridgeport, CT	1.0	1.0	638	$1,650	$2.59	43d	1	1.04mi
250 N Bishop Ave #1 Bridgeport, CT	1.0	1.0	583	$1,650	$2.83	11d	1	1.04mi
55 E Main St Bridgeport, CT	3.0	1.0–3.0	1115	$6,712	$6.02	3d	189	1.06mi
1333 E Main St Apt 1 Bridgeport, CT	2.0	1.0	700	$1,700	$2.43	3d	1	1.19mi
1333 E Main St #5 Bridgeport, CT	2.0	1.0	700	$1,650	$2.36	3d	1	1.19mi
105 William St Unit A Bridgeport, CT	1.0	1.0	582	$1,350	$2.32	43d	1	1.27mi
116 Knowlton St Unit 2C Bridgeport, CT	3.0	1.0	750	$1,200	$1.60	19d	1	1.28mi
235 Henry Ave Unit 12E Stratford, CT	1.0	1.0	692	$1,695	$2.45	10d	1	1.38mi
116 Ogden St Unit 120 Bridgeport, CT	2.0	1.0	688	$2,375	$3.45	3d	1	1.41mi
144 Golden Hill St Bridgeport, CT	1.0	1.0	592	$1,675	$2.83	14d	1	1.42mi
600 Bond St Unit 112 Bridgeport, CT	1.0	1.0	545	$2,250	$4.13	43d	1	1.45mi
231 Goddard Ave Unit 3RD Bridgeport, CT	2.0	1.0	618	$1,700	$2.75	3d	1	1.46mi
432 Main St Unit 438 Bridgeport, CT	3.0	1.0	565	$1,950	$3.45	43d	1	1.47mi
213 Golden Hill St Unit 4D Bridgeport, CT	2.0	1.0	750	$1,800	$2.40	43d	1	1.49mi
225 Golden Hill St Apt 4D Bridgeport, CT	2.0	1.0	750	$1,800	$2.40	43d	1	1.49mi

HOA detail condo

• Monthly dues: $590 · $7,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $65,000 Active 5 DOM
2. 2026-06-17
   days on market $65,000 Active 4 DOM
3. 2026-06-16
   days on market $65,000 Active 3 DOM
4. 2026-06-15
   remarks 293-char remark
5. 2026-06-15
   listed $65,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,460
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − HOA: −$7,080
• − Depreciation: −$1,891
• Taxable income: $4,114
• Est. tax owed @ 24.0%: −$987
• After-tax cash flow: $3,495/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): 7,979
• Household income: $50,000
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 534.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 57% Black 31% Two or more races 19% Asian 6% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 32% Cuban 4% Dominican 4%
• Common ancestry: Estonian 1% Russian 1%
• Foreign-born: 25% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 42% Other Asian/Pacific 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: ▲ 26.05%
• Current HPI: 584.8108
• 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

+12.1% since first listed

8 events — show timeline

• 2026-06-13 Listed $65,000 Smart MLS
• 2020-02-04 Sold (MLS) $18,000 Smart MLS
• 2019-12-02 Pending — Smart MLS
• 2019-11-22 Listed $22,000 Smart MLS
• 2006-12-27 Listing Removed — Smart MLS
• 2006-06-27 Listed $58,000 Smart MLS
• 2005-07-17 Listing Removed — Smart MLS
• 2005-04-19 Listed $58,000 Smart MLS