647 Bronson Rd · Mill Plain, CT 06890

$899,000

4 bd · 2.5 ba · 2,644 sqft · MultiFamily public records · 4 Days on market

Built 1913 0.41 ac lot ↓ 10% since listing

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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).

• Cash flow +12.9/30.0
• ARV discount +7.5/15.0
• Schools +6.3/10.0
• DSCR +3.9/10.0
• 1% rule +3.5/10.0
• Rent growth +2.5/5.0
• Livability +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: 1 unit. estimate disagrees with records

Listing remarks

First Time on the Market - A Southport Treasure with Endless Possibilities For the first time since 1912, this cherished Southport residence is being offered for sale. Passed down through generations, this classic colonial has been a cornerstone of one family's legacy for over a century - and now it's ready for its next chapter. Set on nearly a half-acre in the heart of Southport, this property offers tranquil water views, timeless charm, and unmatched potential. Originally a four-bedroom single-family home, a thoughtfully designed in-law suite with its own private entrance, separate mechanicals, and utilities was added in 1991 - ideal for multi-generational living, guests, or rental income

Key facts

• 0.41 acre lot
• Built 1913
• Listed 4 days

Property features AI

Exterior

• Utilities: Public water connected; Public sewer connected; Oil hot water (tank located in basement)
• Home design: Single-family home
• Construction: Built with frame construction; Vinyl siding; Concrete foundation; Asphalt shingle roof; Pale green exterior color
• Exterior features: Deck; Garden area; Water view; Beach rights; Walkable to the water

Interior

• Kitchen: Electric range; Refrigerator; Dishwasher
• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Steam heat (oil-fired); Ceiling fans; Window air conditioning units
• Interior features: 8 total rooms; Bonus room; Full unfinished basement; Attic with pull-down stairs; In-law apartment with separate second-floor entry
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath multifamily listed at $899k.

Deal economics

• At list price, monthly cash flow is $-60 ($-726/yr) — negative.
• To cash-flow at today's rent, offer at most $888k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $765k (14.9% below list).
• Recommended offer: $765k (14.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Fairfield School District (suburban): math 61% / reading 72% proficiency, ranked #21 of 153 in CT (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Mill Hill School (math 67% / reading 77%, grade A-, #62 of 553 statewide, top 13%, 404 students, 10% FRL); Fairfield Ludlowe High School (math 69% / reading 85%, grade A-, #9 of 194 statewide, top 4%, 1,498 students, 15% FRL).
• Market conditions: 28 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 1913 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 69% 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 $764,619 (14.9% 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. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.29%
• DSCR: 0.99
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.8%
• Equity multiple: 0.41×
• Total profit: $-149,481
• Equity at exit: $134,044

10-year hold

• IRR: -8.6%
• Equity multiple: 0.46×
• Total profit: $-134,934
• Equity at exit: $77,729

Cash invested: $251,720 (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 06890

• Active inventory: 28
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $7,646 high
• Mortgage (P&I): −$4,714
• Tax from tax record: −$1,012 /mo · $12,143/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,606
• Net cashflow: $-60

Break-even live

Break-even rent $7,723

Max offer price $888,319

Occupancy floor 96%

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Chelsea St Fairfield, CT	4.0	2.5	2518	$7,500	$2.98	43d	1	0.25mi
798 Mill Plain Rd Fairfield, CT	3.0	1.5	1894	$6,000	$3.17	23d	1	0.47mi
860 Oldfield Rd Fairfield, CT	3.0	2.5	2150	$6,000	$2.79	43d	1	1.08mi
1005 Old Post Rd Fairfield, CT	4.0	2.5	3474	$24,500	$7.05	14d	1	1.11mi
46 Parkway Fairfield, CT	3.0	2.0	1831	$5,450	$2.98	14d	1	1.11mi
254 Sherwood Farm Rd Fairfield, CT	4.0	4.5	3570	$12,500	$3.50	10d	1	1.24mi
146 Oxford Rd Southport, CT	3.0	2.5	2896	$8,850	$3.06	14d	1	1.37mi
146 Oxford Rd Southport, CT	3.0	2.5	1792	$8,850	$4.94	2d	1	1.37mi
447 Reef Rd Fairfield, CT	3.0	2.5	1972	$8,000	$4.06	43d	1	1.37mi
1975 Mill Plain Rd Fairfield, CT	3.0	2.0	2144	$5,950	$2.78	43d	1	1.39mi
510 Reef Rd Fairfield, CT	3.0	1.5	1908	$12,000	$6.29	23d	1	1.43mi

Listing history 15 events

1. 2026-04-30
   status Under Contract
2. 2026-04-27
   listed $899,000 Active
3. 2026-04-20
   historical $899,000
4. 2026-04-10
   historical
5. 2026-04-10
   historical
6. 2025-10-13
   historical Under Contract - Continue to Show
7. 2025-10-13
   historical Under Contract - Continue to Show
8. 2025-09-26
   historical
9. 2025-09-26
   historical
10. 2025-09-26
    listed $950,000 Active
11. 2025-09-26
    listed $950,000 Active
12. 2025-07-31
    listed $1,000,000 Active
13. 2025-07-31
    listed $1,000,000 Active
14. 2025-07-25
    historical
15. 2025-07-25
    historical

ⓘ 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: $12,143 · $1,012/mo
• Projected year-2 tax: $15,691 · $1,308/mo
• Expected delta: +$3,548/yr (+$296/mo · 29.2%)

ⓘ 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 5/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 8/10 Severe 13 unhealthy d/yr today · 18 by 30 yrs out

Taxation est. · year 1

• Rental income: $91,754
• − Mortgage interest: −$50,358
• − Property taxes: −$12,143
• − Insurance: −$4,495
• − Repairs & maintenance: −$7,340
• − Management: −$7,340
• − Depreciation: −$26,153
• Taxable loss: −$16,075
• Est. tax savings @ 24.0%: +$3,858
• After-tax cash flow: $3,132/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: Fairfield School District
• NCES district ID: 0901530
• Math proficiency: 61% ▼ -10.00%
• Reading proficiency: 72% ▼ -7.00%
• Median HH income: $119,139
• Composite: 63.03/100
• National rank: #650
• State rank: #21 of 153 in CT

Livability — Mill Plain

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,566

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Asian 5% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 6% Slovak 5% Lithuanian 2%
• Foreign-born: 8% · Canada, Dominican Republic
• Languages at home: 90% English-only · Other Indo-European 5% Spanish 3% Russian/Polish/Slavic 1%

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: ▼ -103.54%
• Current HPI: 188.7723
• Rent YoY: —
• Metro: —
• 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

-10.1% since first listed

15 events — show timeline

• 2026-04-30 Pending — Smart MLS
• 2026-04-27 Listed $899,000 Smart MLS
• 2026-04-20 Coming Soon $899,000 Smart MLS
• 2026-04-10 Listing Removed — Smart MLS
• 2026-04-10 Listing Removed — Smart MLS
• 2025-10-13 Contingent — Smart MLS
• 2025-10-13 Contingent — Smart MLS
• 2025-09-26 Listing Removed — Smart MLS
• 2025-09-26 Listing Removed — Smart MLS
• 2025-09-26 Listed $950,000 Smart MLS
• 2025-09-26 Listed $950,000 Smart MLS
• 2025-07-31 Listed $1,000,000 Smart MLS
• 2025-07-31 Listed $1,000,000 Smart MLS
• 2025-07-25 Coming Soon — Smart MLS
• 2025-07-25 Coming Soon — Smart MLS

Property tax history

+1.0%/yr

Latest (2023): $12,143 · +1.0% YoY. Source: county tax records.