349 Noble Ave · Bridgeport, CT 06608

$569,000

14 bd · 5.0 ba · 6,727 sqft · MultiFamily public records · 32 Days on market

Built 1852 0.26 ac lot

---

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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.3/30.0
• Livability +4.0/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.2/10.0
• DSCR +0.6/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Spacious side-by-side two-family home featuring formal living and dining rooms, fireplace, jacuzzi, and abundant closet space throughout. Private parking and a fenced yard offer added convenience and outdoor enjoyment. Ideally located directly across from a park and close to shopping, schools, hospitals, and major highways. Great opportunity-bring your offers!

Key facts

• Two-family home
• Private parking
• Jacuzzi

Tags

• TWO-FAMILY HOME
• FORMAL LIVING AND DINING ROOMS
• FIREPLACE
• JACUZZI
• ABUNDANT CLOSET SPACE
• PRIVATE PARKING

Property features AI

Finance

• Financial info: Assessed value listed

Exterior

• Parking: Attached garage; 9 garages
• Utilities: Public water connected; Public sewer connected; No hot water listed
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Slab foundation; Asphalt shingle roof
• Exterior features: Level lot; Cedar siding

Interior

• Bedrooms: 14 bedrooms
• Bathrooms: 6 full bathrooms; 1 half bathroom
• Heating & cooling: Hot air heating (natural gas); Window unit cooling
• Interior features: 25 total rooms; 2 fireplaces; Full basement

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $569k.

Deal economics

• At list price, monthly cash flow is $-1k ($-12k/yr) — negative. Per door: $-508/mo.
• To cash-flow at today's rent, offer at most $389k (31.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $408k (28.3% below list).
• Recommended offer: $389k (31.6% below list) — sets the bar for cash-flow.

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: Waltersville School (math 7% / reading 17%, grade F, #500 of 553 statewide, top 91%, 451 students, 92% FRL); Warren Harding High School (math 2% / reading 8%, grade F, #192 of 194 statewide, top 100%, 1,109 students, 82% FRL).
• Market conditions: Rents rising fast (+4.3%/yr); 30 active listings in the ZIP; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $4,082/mo this rent would consume 107% 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 $61k of equity ($4k loan paydown + $57k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$98k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($552k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $30k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $365k; list at $569k implies a 56% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1852 — 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 $389,351 (31.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 32% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Built in 1852 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
9. 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.
10. 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.
11. 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: 0.72% ✗
• Cap rate: 4.15%
• Cash-on-cash: -7.66%
• DSCR: 0.66
• GRM: 11.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 19.3%
• Equity multiple: 2.58×
• Total profit: $250,993
• Equity at exit: $512,600

10-year hold

• IRR: 18.1%
• Equity multiple: 6.04×
• Total profit: $802,616
• Equity at exit: $1,105,442

Cash invested: $159,320 (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: 23.2×

Monthly cashflow live

• Estimated rent: $4,082 high
• Mortgage (P&I): −$2,984
• Tax from tax record: −$1,021 /mo · $12,249/yr
• Insurance: −$237
• HOA: −$0
• Vacancy / Maint / Mgmt: −$857
• Net cashflow: $-1,017

Break-even live

Break-even rent $5,369

Max offer price $389,351

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,082
Total (2 units)			$4,082

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: $142,250
• Closing costs: $17,070
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-14
   status Under Contract
2. 2026-04-08
   price $569,000
3. 2026-03-24
   price $589,000
4. 2026-02-18
   listed $599,000 Active
5. 2008-03-17
   historical
6. 2007-09-17
   listed $494,900
7. 2006-03-03
   soldstatus $365,000
8. 1997-03-27
   soldstatus $70,500

ⓘ 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: $12,249 · $1,021/mo
• Projected year-2 tax: $12,249 · $1,021/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $48,984
• − Mortgage interest: −$31,873
• − Property taxes: −$12,249
• − Insurance: −$2,845
• − Repairs & maintenance: −$3,919
• − Management: −$3,919
• − Depreciation: −$16,553
• Taxable loss: −$22,373
• Est. tax savings @ 24.0%: +$5,370
• After-tax cash flow: $-6,834/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

+707.1% since first listed

8 events — show timeline

• 2026-04-14 Pending — Smart MLS
• 2026-04-08 Price Changed $569,000 Smart MLS
• 2026-03-24 Price Changed $589,000 Smart MLS
• 2026-02-18 Listed $599,000 Smart MLS
• 2008-03-17 Listing Removed — Smart MLS
• 2007-09-17 Listed $494,900 Smart MLS
• 2006-03-03 Sold (Public Records) $365,000 Public Records
• 1997-03-27 Sold (Public Records) $70,500 Public Records

Property tax history

+0.0%/yr

Latest (2023): $12,249 · +0.0% YoY. Source: county tax records.