149 Shelton St · Bridgeport, CT 06608

$458,888

4 bd · 2.0 ba · 2,156 sqft · MultiFamily public records · 29 Days on market

Built 1920 4,356 sqft lot Est $444k · at est.

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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 +14.8/30.0
• Appreciation +10.0/10.0
• ARV discount +6.0/15.0
• DSCR +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Welcome to 149-151 Shelton Street, a multi-family opportunity in the heart of Bridgeport - perfect for an owner-occupant ready to break into real estate investing while offsetting their mortgage with immediate rental income. With one unit already cash flowing, this property offers the ideal blend of affordability, functionality, and long-term upside. The heavy lifting has already been done for you. Major capital improvements have been completed, including the roof, mechanical systems, interior updates, and appliances, giving peace of mind to both investors and homeowners alike. Whether you're looking to live in one unit and rent the other, or expand your investment portfolio with a low-main

Key facts

• Cash flowing unit
• Strong rental appeal
• 4,356 sq ft lot

Tags

• MULTI-FAMILY OPPORTUNITY
• CASH FLOWING UNIT
• MAJOR CAPITAL IMPROVEMENTS
• UPDATED LIVING SPACES
• STRONG RENTAL APPEAL

Property features AI

Exterior

• Parking: Driveway parking (3 spaces)
• Utilities: Public water; Public sewer; Natural gas
• Home design: Multi-family 2-unit property
• Construction: Frame construction; Asphalt shingle roof; Concrete and stone foundation; Exterior siding: Other
• Exterior features: Level lot; Private paved driveway

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Hot water heat; Natural gas heating; 40-gallon natural gas hot water tank
• Interior features: 10 total rooms; Full unfinished basement; Window air conditioning units

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $459k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $406k (11.6% below list).
• Recommended offer: $406k (11.6% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 fast (+4.3%/yr); 30 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $4,058/mo this rent would consume 106% of the median local household income ($46k/yr) (locally 910% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $49k of equity ($3k loan paydown + $46k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 4.3% rent growth), your $128k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$79k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($452k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask is 24% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 41% 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 $405,800 (11.6% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.88% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $444,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
530 Jane St	0.54mi	4/2.0	2,217 (+3%)	5mo	$599,000	$270	66
107 Colony St	0.71mi	4/2.0	2,188 (+2%)	3mo	$330,000	$151	62
277 Helen St	0.61mi	4/2.0	1,997 (-7%)	2mo	$375,000	$188	57
44 Locust St	0.70mi	4/2.0	2,054 (-5%)	6mo	$515,000	$251	54
30-32 Hadley St	0.61mi	4/2.0	2,188 (+2%)	20mo	$355,000	$162	53
64 Locust St	0.70mi	4/2.0	2,028 (-6%)	10mo	$515,000	$254	49
8 Horace St	0.63mi	4/2.0	2,112 (-2%)	22mo	$355,000	$168	49
36-40 Carver St	0.70mi	4/2.0	2,188 (+2%)	19mo	$450,000	$206	49
41 Sedgewick St	0.65mi	5/2.0 (+1)	2,037 (-6%)	15mo	$500,000	$245	43
75 Asylum St	0.66mi	4/2.0	2,014 (-7%)	20mo	$330,000	$164	42
27 Center St	0.64mi	4/2.0	2,361 (+10%)	16mo	$385,000	$163	41
75 Commercial St	0.46mi	5/2.0 (+1)	2,478 (+15%)	20mo	$575,000	$232	32

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 4.35% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 3.05×
• Total profit: $263,633
• Equity at exit: $413,403

10-year hold

• IRR: 22.9%
• Equity multiple: 7.09×
• Total profit: $781,953
• Equity at exit: $891,518

Cash invested: $128,489 (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 06608

• Home prices YoY: 3.6%
• Rents YoY: 4.3%
• Active inventory: 30
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $4,058 high
• Mortgage (P&I): −$2,406
• Tax from tax record: −$481 /mo · $5,768/yr
• Insurance: −$191
• HOA: −$0
• Vacancy / Maint / Mgmt: −$852
• Net cashflow: $127

Break-even live

Break-even rent $3,897

Max offer price $458,888

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,058
Total (2 units)			$4,058

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: $114,722
• Closing costs: $13,767
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
141 Hicks St Bridgeport, CT	4.0	1.0	2311	$2,400	$1.04	24d	1	0.05mi
36-38 Pleasant St Unit 2 Bridgeport, CT	4.0	1.0	2395	$2,700	$1.13	14d	1	0.12mi
690 William St Unit 2 Bridgeport, CT	3.0	1.0	1746	$2,200	$1.26	24d	1	0.20mi
281 Harriet St Unit 281 Bridgeport, CT	4.0	2.5	2297	$3,900	$1.70	44d	1	0.20mi
7 Armstrong Pl Bridgeport, CT	5.0	1.0	2449	$2,750	$1.12	24d	1	0.21mi
587 Brooks St Unit !st floor Bridgeport, CT	3.0	2.0	1500	$2,400	$1.60	44d	1	0.40mi
426 Jane St Unit 1 Bridgeport, CT	3.0	1.0	2886	$2,400	$0.83	3d	1	0.42mi
223 Spring St Bridgeport, CT	3.0	1.0	2918	$2,000	$0.69	44d	1	0.43mi
52-54 Ives Ct Bridgeport, CT	4.0	1.0	2092	$2,750	$1.31	44d	1	0.46mi
1325 Pembroke St Unit 2nd Floor Bridgeport, CT	3.0	1.0	1600	$3,500	$2.19	44d	1	0.46mi
982 Pembroke St Unit 2L Bridgeport, CT	4.0	1.0	2043	$2,475	$1.21	3d	1	0.49mi
695 Shelton St Unit 1st Floor Bridgeport, CT	3.0	1.0	2387	$2,200	$0.92	44d	1	0.50mi
479 Putnam St Unit 3R Bridgeport, CT	5.0	2.0	2000	$2,350	$1.18	19d	1	0.51mi
530 Jane St Unit 2B Bridgeport, CT	3.0	2.0	2217	$3,400	$1.53	44d	1	0.52mi
704 Maple St #704 Bridgeport, CT	3.0	1.5	1948	$2,700	$1.39	24d	1	0.56mi
95 Parrott Ave Bridgeport, CT	4.0	1.0	1782	$3,450	$1.94	24d	1	0.62mi
588 E Main St Unit C Bridgeport, CT	3.0	1.0	1400	$2,475	$1.77	14d	1	0.63mi
191 Parrott Ave Unit 1 Bridgeport, CT	3.0	1.0	2662	$2,000	$0.75	44d	1	0.72mi
136 Sherman St Unit 142 Bridgeport, CT	4.0	1.5	2116	$2,800	$1.32	3d	1	0.86mi
2048 E Main St Bridgeport, CT	4.0	2.0	2000	$3,000	$1.50	44d	1	0.88mi
70 Hawthorne St Bridgeport, CT	3.0	1.5	2376	$3,500	$1.47	44d	1	0.89mi
271 Vine St Unit 3 Bridgeport, CT	3.0	1.0	1749	$2,000	$1.14	3d	1	0.96mi
64 Hickory St Bridgeport, CT	4.0	3.0	2870	$4,400	$1.53	44d	1	0.97mi
1566 North Ave Bridgeport, CT	5.0	1.0	2837	$2,500	$0.88	44d	1	1.05mi
55 E Main St Bridgeport, CT	3.0	1.0–3.0	1115	$9,085	$8.14	3d	189	1.07mi
333 Ridgefield Ave Bridgeport, CT	3.0	1.0	1400	$2,250	$1.61	3d	1	1.13mi
259 6th St Bridgeport, CT	4.0	2.0	2269	$3,000	$1.32	44d	1	1.13mi
335 Ridgefield Ave Bridgeport, CT	3.0	1.0	1400	$2,250	$1.61	3d	1	1.13mi
292 Ridgefield Ave Unit 3 Bridgeport, CT	3.0	1.0	1792	$2,450	$1.37	44d	1	1.16mi
292 Ridgefield Ave Unit 2 Bridgeport, CT	4.0	1.0	1792	$2,650	$1.48	44d	1	1.16mi
1577 Park Ave Bridgeport, CT	3.0	1.0	1409	$2,400	$1.70	24d	1	1.21mi
1577 Park Ave Unit 3rd Flr Bridgeport, CT	3.0	1.0	1890	$2,300	$1.22	3d	1	1.21mi
1515 Park Ave Unit 2 Bridgeport, CT	3.0	2.0	1900	$2,750	$1.45	44d	1	1.21mi
1573 Park Ave Unit 1577 Bridgeport, CT	3.0	1.0	1890	$2,250	$1.19	3d	1	1.21mi
22 Infield St Unit 22 Bridgeport, CT	3.0	2.5	2688	$3,500	$1.30	3d	1	1.21mi
457 Summit St Bridgeport, CT	3.0	1.5	1511	$4,000	$2.65	44d	1	1.32mi
64 Velvet St Bridgeport, CT	3.0	1.0	1430	$2,500	$1.75	12d	1	1.33mi
183 Harlem Ave Unit 1 Bridgeport, CT	3.0	1.0	2980	$2,400	$0.81	24d	1	1.35mi
125 High Ridge Dr Bridgeport, CT	4.0	1.5	2160	$3,400	$1.57	3d	1	1.35mi
53 Pixlee Pl Unit 2nd Bridgeport, CT	3.0	1.0	1475	$2,195	$1.49	3d	1	1.35mi

Listing history 26 events

1. 2026-06-18
   days on market $458,888 Active 29 DOM
2. 2026-06-17
   days on market $458,888 Active 28 DOM
3. 2026-06-16
   days on market $458,888 Active 27 DOM
4. 2026-06-15
   price $458,888 Active 26 DOM
5. 2026-06-15
   days on market $459,990 Active 26 DOM
6. 2026-06-13
   days on market $459,990 Active 24 DOM
7. 2026-06-13
   statusdays on market $459,990 Active 23 DOM
8. 2026-06-10
   days on market $459,990 Under Contract - Continue to Show 21 DOM
9. 2026-06-09
   days on market $459,990 Under Contract - Continue to Show 20 DOM
10. 2026-06-08
    days on market $459,990 Under Contract - Continue to Show 19 DOM
11. 2026-06-07
    days on market $459,990 Under Contract - Continue to Show 18 DOM
12. 2026-06-05
    statusdays on market $459,990 Under Contract - Continue to Show 15 DOM
13. 2026-06-03
    days on market $459,990 Active 14 DOM
14. 2026-06-03
    days on market $459,990 Active 13 DOM
15. 2026-06-01
    days on market $459,990 Active 12 DOM
16. 2026-05-31
    days on market $459,990 Active 11 DOM
17. 2026-05-20
    status Active
18. 2026-05-20
    historical
19. 2026-05-20
    price $469,990
20. 2026-05-20
    status Active
21. 2026-05-20
    historical
22. 2026-05-20
    historical
23. 2026-05-20
    listed $369,990 Active
24. 2026-05-19
    status Active
25. 2026-05-12
    historical Under Contract - Continue to Show
26. 2026-05-08
    listed $469,990 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: $5,768 · $481/mo
• Projected year-2 tax: $7,794 · $650/mo
• Expected delta: +$2,026/yr (+$169/mo · 35.1%)

ⓘ 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 41% 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: $48,696
• − Mortgage interest: −$25,705
• − Property taxes: −$5,768
• − Insurance: −$2,294
• − Repairs & maintenance: −$3,896
• − Management: −$3,896
• − Depreciation: −$13,349
• Taxable loss: −$6,212
• Est. tax savings @ 24.0%: +$1,491
• After-tax cash flow: $3,021/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): 12,146
• Household income: $45,754
• Rent vs Own: 75.4% rent · 24.6% own
• Severe rent burden: 910.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Black 22% Two or more races 19% White 4% Asian 4%
• Hispanic origin (detail): Mexican 5% Puerto Rican 32% Cuban 1% Dominican 14%
• Common ancestry: Hispanic 1% Russian 1% Estonian 0%
• Foreign-born: 34% · Canada, Jamaica
• Languages at home: 33% English-only · Spanish 56% French/Haitian/Cajun 4% Other Asian/Pacific 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: ▲ 18.29%
• Current HPI: 530.5125
• Rent YoY: ▲ 4.35%
• 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

+0.0% since first listed

10 events — show timeline

• 2026-05-20 Relisted — Smart MLS
• 2026-05-20 Listing Removed — Smart MLS
• 2026-05-20 Price Changed $469,990 Smart MLS
• 2026-05-20 Relisted — Smart MLS
• 2026-05-20 Listing Removed — Smart MLS
• 2026-05-20 Listed $369,990 Smart MLS
• 2026-05-20 Listing Removed — Smart MLS
• 2026-05-19 Relisted — Smart MLS
• 2026-05-12 Contingent — Smart MLS
• 2026-05-08 Listed $469,990 Smart MLS

Property tax history

+0.2%/yr

Latest (2023): $5,768 · +0.0% YoY. Source: county tax records.