130 Brentwood Ave

Bridgeport, CT 06825

$629,900B-

6 bd · 5.0 ba · 3,700 sqft · Built 2008 · MultiFamily · Under Contract · 61 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $7,240/mo
• Mortgage (P&I): −$3,303
• Tax + insurance: −$1,150
• HOA: −$0
• Vac / Maint / Mgmt: −$1,520
• Net cashflow: $1,267/mo
• Annual: $15,199/yr
• Cap rate: 8.71%
• Cash-on-cash: 8.62%
• DSCR: 1.38
• 1% rule: 1.15%
• Cash to close: $176,372

Investor read

• This is a 6-bed/5.0-bath multifamily listed at $630k.
• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $630k).
• It's been on market 61 days — a 6% lower offer ($592k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $592k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $19k of value loss. Plan a longer hold.
• 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+.
• 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: Mckinley School (math 47% / reading 54%, grade D+, #234 of 553 statewide, top 42%, 433 students, 49% FRL); Tomlinson Middle School (math 40% / reading 63%, grade C, #77 of 175 statewide, top 44%, 621 students, 30% FRL); Fairfield Warde High School (math 52% / reading 73%, grade B-, #39 of 194 statewide, top 20%, 1,418 students, 25% FRL) — zoned schools average 35% FRL vs 7% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.8%/yr); 95 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• 10 sale attempts since 21y 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 $300k; list at $630k implies a 110% gain — meaningful room to come down on a strong offer.
• Cap rate 8.7% 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.
• At $7,240/mo this rent would consume 64% of the median local household income ($136k/yr) (locally 336% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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 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.