757-759 Iranistan Ave · Bridgeport, CT 06605

$370,000

6 bd · 3.0 ba · 3,070 sqft · MultiFamily · 83 Days on market

Built 1911 Fair condition 2,613 sqft lot Est $593k · 38% under

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Why this score? — see what drove the B 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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.2/10.0
• Livability +4.0/5.0
• Rent growth +3.0/5.0
• Condition / age +2.2/5.0
• 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: 2 units. confirmed

Listing remarks

hardwood floors on all floors have a collapse sewer pipe on the side out side the yard need work sold as is. cash only Please provide prof o fund hardwood floors on all floors have a collapse sewer pipe on the side out side the yard need work sold as is. cash only Please provide prof o fund

Key facts

• 2,613 sq ft lot
• Built 1911
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $370k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $852 ($10k/yr) — positive. Per door: $426/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $370k).
• Recommended offer: $348k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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 (+1.8%/yr); 47 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• At $4,898/mo this rent would consume 105% of the median local household income ($56k/yr) (locally 2367% 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 $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask is 1133% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $347,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.32% ✓
• Cap rate: 10.55%
• Cash-on-cash: 15.20%
• DSCR: 1.68
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $592,510
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
73 Yale St	0.26mi	5/3.0 (-1)	3,044 (-1%)	14mo	$580,000	$191	70
392 Laurel Ave	0.42mi	6/3.0	3,138 (+2%)	11mo	$489,500	$156	68
41-43 Worth St	0.71mi	5/3.0 (-1)	3,044 (-1%)	0mo	$640,000	$210	60
766 Hancock Ave	0.54mi	6/4.0	2,906 (-5%)	10mo	$467,000	$161	54
1033 Howard Ave	0.70mi	6/3.0	2,884 (-6%)	7mo	$550,000	$191	51
592 Norman St	0.43mi	5/3.0 (-1)	2,636 (-14%)	3mo	$510,000	$193	48
533 Clinton Ave	0.50mi	6/2.0	3,459 (+13%)	4mo	$690,000	$199	48
115 Denver Ave	0.60mi	6/2.5	3,382 (+10%)	6mo	$485,000	$143	48
414 Wood Ave	0.63mi	6/3.0	2,653 (-14%)	4mo	$700,000	$264	44
213 Harral Ave	0.67mi	7/4.0 (+1)	3,259 (+6%)	6mo	$650,000	$199	44
324 Mountain Grove St	0.75mi	6/3.0	2,769 (-10%)	10mo	$540,000	$195	40
25-27 Poplar St	0.58mi	6/3.0	2,610 (-15%)	14mo	$487,400	$187	36

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 · 1.81% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-11,130
• Equity at exit: $55,168

10-year hold

• IRR: 5.3%
• Equity multiple: 1.37×
• Total profit: $38,413
• Equity at exit: $31,991

Cash invested: $103,600 (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 06605

• Home prices YoY: -14.5%
• Rents YoY: 1.8%
• Active inventory: 47
• Price-to-rent: 12.6×

Monthly cashflow live

• Estimated rent: $4,898 high
• Mortgage (P&I): −$1,940
• Tax est. 1.5%: −$462 /mo · $5,550/yr
• Insurance: −$154
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,029
• Net cashflow: $852

Break-even live

Break-even rent $3,819

Max offer price $370,000

Occupancy floor 78%

Sensitivity live

Price	-10% $1,108	-5% $980	+0% $852	+5% $724	+10% $596
Rent	-10% $465	-5% $659	+0% $852	+5% $1,045	+10% $1,239
Rate	-1.0pp $1,038	-0.5pp $946	base $852	+0.5pp $756	+1.0pp $659

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$4,898
Total (2 units)			$4,898

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
241 Lewis St Unit 241 Bridgeport, CT	6.0	2.0	2300	$3,500	$1.52	44d	1	0.05mi
1566 North Ave Bridgeport, CT	5.0	1.0	2837	$2,500	$0.88	44d	1	1.01mi
107 Catherine St Bridgeport, CT	7.0	2.5	4104	$2,900	$0.71	15d	1	1.04mi
7 Armstrong Pl Bridgeport, CT	5.0	1.0	2449	$2,750	$1.12	24d	1	1.38mi

Listing history 13 events

1. 2025-02-16
   status Under Contract
2. 2024-12-22
   historical Under Contract - Continue to Show
3. 2024-12-02
   status Active
4. 2024-12-02
   price $370,000
5. 2024-09-04
   status Under Contract
6. 2024-09-01
   price $300,000
7. 2024-08-29
   status Active
8. 2024-08-29
   price $400,000
9. 2023-09-14
   status Under Contract
10. 2023-09-14
    status Active
11. 2023-09-13
    historical
12. 2023-09-11
    price $300,000
13. 2023-09-10
    listed $30,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% 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: $58,776
• − Mortgage interest: −$20,726
• − Property taxes: −$5,550
• − Insurance: −$7,375
• − Repairs & maintenance: −$4,702
• − Management: −$4,702
• − Depreciation: −$10,764
• Taxable income: $4,957
• Est. tax owed @ 24.0%: −$1,190
• After-tax cash flow: $9,034/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.

Condition & rehab AI · 3 photos

Fair 45/100 Moderate rehab

The property requires moderate repairs and maintenance, including fixing a collapsing sewer pipe and improving the exterior paint. Landscaping and exterior updates would significantly enhance its resale and rental value.

Repairs flagged

• Major Collapsing sewer pipe — Structural damage to the property
• Moderate Exterior paint — Siding shows some discoloration

Value-add opportunities

• Both Landscaping and exterior paint — Improves curb appeal and property value
• Both Fixing the collapsing sewer pipe — Prevents further structural damage and ensures safety

Renovation cost estimate screening

Repair item	Severity	Est. cost
Collapsing sewer pipe · Structural damage to the property	Major	$15,000–50,000
Exterior paint · Siding shows some discoloration	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$18,000–65,000

Value-add ROI direction

• Both Landscaping and exterior paint — Improves curb appeal and property value ↑
• Both Fixing the collapsing sewer pipe — Prevents further structural damage and ensures safety ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 25,929
• Household income: $56,179
• Rent vs Own: 67.9% rent · 32.1% own
• Severe rent burden: 2367.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 39% White 33% Black 19% Two or more races 12% Asian 5% Native American 1%
• Hispanic origin (detail): Mexican 6% Puerto Rican 17% Cuban 3% Dominican 3%
• Common ancestry: Romanian 4% Hispanic 3% Scotch-Irish 2%
• Foreign-born: 25% · Canada, Guatemala, China
• Languages at home: 54% English-only · Spanish 32% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -40.42%
• Current HPI: 238.1786
• Rent YoY: ▲ 1.81%
• 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

+1133.3% since first listed

13 events — show timeline

• 2025-02-16 Pending — Smart MLS
• 2024-12-22 Contingent — Smart MLS
• 2024-12-02 Price Changed $370,000 Smart MLS
• 2024-12-02 Relisted — Smart MLS
• 2024-09-04 Pending — Smart MLS
• 2024-09-01 Price Changed $300,000 Smart MLS
• 2024-08-29 Price Changed $400,000 Smart MLS
• 2024-08-29 Relisted — Smart MLS
• 2023-09-14 Pending — Smart MLS
• 2023-09-14 Relisted — Smart MLS
• 2023-09-13 Listing Removed — Smart MLS
• 2023-09-11 Price Changed $300,000 Smart MLS
• 2023-09-10 Listed $30,000 Smart MLS