98 Huntington Rd

Bridgeport, CT 06608

$350,000D

3 bd · 2.0 ba · 1,895 sqft · Built 1907 · SingleFamily · Under Contract · 12 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,564/mo
• Mortgage (P&I): −$1,835
• Tax + insurance: −$411
• HOA: −$0
• Vac / Maint / Mgmt: −$538
• Net cashflow: $-221/mo
• Annual: $-2,655/yr
• Cap rate: 5.53%
• Cash-on-cash: -2.71%
• DSCR: 0.88
• 1% rule: 0.73%
• Cash to close: $98,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $350k.
• At list price, monthly cash flow is $-221 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $311k (11.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $256k (26.7% below list).
• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $256k (26.7% below list) — sets the bar for 1% rule.
• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• 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.
• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.3%/yr); 32 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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).
• 4 sale attempts since 23y 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 $38k; list at $350k implies a 821% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• 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.
• At $2,564/mo this rent would consume 67% 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.

Questions for listing agent

• 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?
• Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.