1211 Park Ave · Bridgeport, CT 06604

$599,900

8 bd · 3.0 ba · 3,548 sqft · MultiFamily public records · 48 Days on market

Built 1914 4,791 sqft lot $169/sqft · 33% above area Est $552k · 9% over

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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 +25.5/30.0
• DSCR +8.5/10.0
• 1% rule +6.4/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• ARV discount +3.6/15.0
• 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

1211 Park Ave with over 3500 Above grade SqFt presents a rare and exceptional investment opportunity. This multi-family property features over 8 bedrooms across spacious 3-bedroom units, each offering very large bedrooms, hardwood floors, and high ceilings that create an open and airy feel throughout. The property has seen recent updates, enhancing both functionality and appeal for tenants and investors alike. Equipped with gas heat and gas hot water, it offers efficiency and long-term cost savings. Commuters will appreciate easy access to I-95, Route 25/8 Connector, and the Merritt Parkway (Route 15), making travel throughout the region seamless.

Key facts

• Recent updates
• Gas hot water
• Gas heat

Tags

• MULTI-FAMILY PROPERTY
• HARDWOOD FLOORS
• HIGH CEILINGS
• RECENT UPDATES
• GAS HEAT
• GAS HOT WATER

Property features AI

Exterior

• Parking: Paved parking; 2 parking spaces
• Utilities: Public water connected; Public sewer connected; Natural gas hot water with 40-gallon tank
• Home design: Multi-family property (2-family)
• Construction: Frame construction; Concrete foundation
• Exterior features: Level lot; Vinyl siding; Tan exterior color; Asphalt shingle roof

Interior

• Bedrooms: 8 bedrooms
• Bathrooms: 3 full bathrooms
• Heating & cooling: Hot air heating; Natural gas heating
• Interior features: 15 total rooms; Full basement; Walk-up attic

What this means for you Summary

Snapshot

• This is a 8-bed/3.0-bath multifamily listed at $600k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $600k).
• Recommended offer: $582k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 (+7.2%/yr); 70 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• At $6,836/mo this rent would consume 164% of the median local household income ($50k/yr) (locally 2646% 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 $18k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $168k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($582k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 $106k; list at $600k implies a 466% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 $581,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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. 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?
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: 1.14% ✓
• Cap rate: 9.09%
• Cash-on-cash: 10.00%
• DSCR: 1.45
• GRM: 7.3

CMA / ARV

• ARV (median comp): $552,491
• List price: $599,900
• Delta: 8.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
200 Harral Ave	0.23mi	8/4.0	3,762 (+6%)	4mo	$649,000	$173	71
1169 Iranistan Ave	0.06mi	8/3.0	3,048 (-14%)	7mo	$600,000	$197	68
501 Pequonnock St	0.37mi	8/3.5	3,423 (-4%)	10mo	$670,000	$196	66
1872 North Ave	0.54mi	8/3.0	3,676 (+4%)	6mo	$720,000	$196	64
115 Linwood Ave	0.39mi	8/3.0	3,346 (-6%)	11mo	$485,000	$145	64
566 Wood Ave	0.49mi	7/4.0 (-1)	3,510 (-1%)	5mo	$630,000	$179	62
15 Seeley St	0.40mi	9/4.0 (+1)	3,657 (+3%)	7mo	$580,000	$159	61
213 Harral Ave	0.24mi	7/4.0 (-1)	3,259 (-8%)	7mo	$650,000	$199	60
661 Iranistan Ave	0.52mi	9/3.0 (+1)	3,400 (-4%)	8mo	$680,000	$200	57
870 Hancock Ave	0.72mi	9/3.0 (+1)	3,863 (+9%)	7mo	$610,000	$158	40
898 Hancock Ave	0.73mi	9/3.0 (+1)	3,204 (-10%)	11mo	$690,000	$215	36
245 Clinton Ave	0.50mi	9/6.0 (+1)	4,008 (+13%)	12mo	$900,000	$225	28

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 · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $22,172
• Equity at exit: $89,447

10-year hold

• IRR: 16.4%
• Equity multiple: 2.60×
• Total profit: $269,310
• Equity at exit: $51,868

Cash invested: $167,972 (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 06604

• Home prices YoY: -5.4%
• Rents YoY: 7.2%
• Active inventory: 70
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $6,836 high
• Mortgage (P&I): −$3,146
• Tax from tax record: −$604 /mo · $7,251/yr
• Insurance: −$250
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,436
• Net cashflow: $1,400

Break-even live

Break-even rent $5,063

Max offer price $599,900

Occupancy floor 75%

Sensitivity live

Price	-10% $1,740	-5% $1,570	+0% $1,400	+5% $1,230	+10% $1,061
Rent	-10% $860	-5% $1,130	+0% $1,400	+5% $1,670	+10% $1,940
Rate	-1.0pp $1,702	-0.5pp $1,553	base $1,400	+0.5pp $1,245	+1.0pp $1,087

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

Units	Beds	Baths	Est. rent
▸ 3× units	3	1	$6,837
Total (3 units)			$6,836

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: $149,975
• Closing costs: $17,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Catherine St Bridgeport, CT	7.0	2.5	4104	$2,900	$0.71	15d	1	0.66mi

Listing history 19 events

1. 2026-06-18
   days on market $599,900 Active 48 DOM
2. 2026-06-17
   days on market $599,900 Active 47 DOM
3. 2026-06-16
   days on market $599,900 Active 46 DOM
4. 2026-06-15
   days on market $599,900 Active 45 DOM
5. 2026-06-13
   days on market $599,900 Active 43 DOM
6. 2026-06-13
   days on market $599,900 Active 42 DOM
7. 2026-06-10
   days on market $599,900 Active 40 DOM
8. 2026-06-09
   days on market $599,900 Active 39 DOM
9. 2026-06-08
   days on market $599,900 Active 38 DOM
10. 2026-06-07
    days on market $599,900 Active 37 DOM
11. 2026-06-05
    days on market $599,900 Active 34 DOM
12. 2026-06-03
    days on market $599,900 Active 33 DOM
13. 2026-06-03
    days on market $599,900 Active 32 DOM
14. 2026-06-01
    days on market $599,900 Active 31 DOM
15. 2026-05-31
    days on market $599,900 Active 30 DOM
16. 2026-05-01
    listed $599,900 Active 655-char remark
17. 2007-10-14
    historical
18. 2007-03-14
    listed $264,900
19. 1992-06-30
    soldstatus $106,000

ⓘ 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: $7,251 · $604/mo
• Projected year-2 tax: $10,044 · $837/mo
• Expected delta: +$2,793/yr (+$233/mo · 38.5%)

ⓘ 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: $82,032
• − Mortgage interest: −$33,604
• − Property taxes: −$7,251
• − Insurance: −$3,000
• − Repairs & maintenance: −$6,563
• − Management: −$6,563
• − Depreciation: −$17,452
• Taxable income: $7,601
• Est. tax owed @ 24.0%: −$1,824
• After-tax cash flow: $14,979/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): 31,771
• Household income: $50,026
• Rent vs Own: 65.9% rent · 34.1% own
• Severe rent burden: 2646.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Hispanic / Latino 45% White 30% Two or more races 15% Black 15% Asian 4% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 16% Dominican 5%
• Common ancestry: Estonian 5% Russian 3% Romanian 2%
• Foreign-born: 36% · Canada, Jamaica, China
• Languages at home: 47% English-only · Spanish 38% Other Indo-European 10% French/Haitian/Cajun 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: ▼ -19.24%
• Current HPI: 337.7362
• Rent YoY: ▲ 7.21%
• 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

+465.9% since first listed

4 events — show timeline

• 2026-05-01 Listed $599,900 Smart MLS
• 2007-10-14 Listing Removed — Smart MLS
• 2007-03-14 Listed $264,900 Smart MLS
• 1992-06-30 Sold (Public Records) $106,000 Public Records

Property tax history

-0.7%/yr

Latest (2023): $7,251 · +0.0% YoY. Source: county tax records.