45 Stevens St Unit 1D · Bridgeport, CT 06606

$134,000

1 bd · 1.0 ba · 681 sqft · Condo public records · 22 Days on market

Built 1980 $197/sqft · 16% below area Est $159k · 16% under $349/mo HOA · 19% of rent

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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 +22.3/30.0
• ARV discount +14.7/15.0
• 1% rule +8.7/10.0
• DSCR +7.1/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well maintained 1 bedroom, 1 bath condo featuring a functional galley kitchen and an open concept living and dining area, perfect for comfortable everyday living and entertaining. The unit offers a spacious bedroom, ample closet space, and great natural light throughout. Ideal for first time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major highways. Don't miss this opportunity!

Key facts

• Open concept living
• Galley kitchen
• Ample closet space

Tags

• GALLEY KITCHEN
• OPEN CONCEPT LIVING
• NATURAL LIGHT
• AMPLE CLOSET SPACE
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $134k.

Deal economics

• At list price, monthly cash flow is $221 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $134k).
• Recommended offer: $132k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+3.1%/yr); 152 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• This rent runs 30% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $926 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y 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 $72k; list at $134k implies a 86% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• 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 $131,990 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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: 1.37% ✓
• Cap rate: 8.27%
• Cash-on-cash: 7.06%
• DSCR: 1.31
• GRM: 6.1

CMA / ARV

• ARV (median comp): $159,335
• List price: $134,000
• Delta: -15.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -5.1%
• Equity multiple: 0.81×
• Total profit: $-7,223
• Equity at exit: $19,980

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $13,601
• Equity at exit: $11,586

Cash invested: $37,520 (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 06606

• Rents YoY: 3.1%
• Active inventory: 152
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,842 high
• Mortgage (P&I): −$703
• Tax from tax record: −$127 /mo · $1,520/yr
• Insurance: −$56
• HOA: −$349
• Vacancy / Maint / Mgmt: −$387
• Net cashflow: $221

Break-even live

Break-even rent $1,562

Max offer price $134,000

Occupancy floor 83%

Sensitivity live

Price	-10% $296	-5% $259	+0% $221	+5% $183	+10% $145
Rent	-10% $75	-5% $148	+0% $221	+5% $293	+10% $366
Rate	-1.0pp $288	-0.5pp $255	base $221	+0.5pp $186	+1.0pp $151

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: $33,500
• Closing costs: $4,020
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30 Quarry St Bridgeport, CT	1.0–2.0	1.0	805	$1,720	$2.14	24d	3	0.10mi
380 Gurdon St Unit 1 Bridgeport, CT	1.0	1.0	744	$2,000	$2.69	22d	1	0.34mi
614 Earl Ave Bridgeport, CT	2.0	1.0	748	$2,300	$3.07	44d	1	0.37mi
950 Lindley St Bridgeport, CT	1.0	1.0	650	$1,650	$2.54	19d	1	0.41mi
343 Wayne St Unit 1st Bridgeport, CT	1.0	1.0	650	$1,300	$2.00	44d	1	0.50mi
343 Wayne St Unit 1st Bridgeport, CT	1.0	1.0	650	$1,300	$2.00	3d	1	0.50mi
365 Glendale Ave Unit B2 Bridgeport, CT	1.0	1.0	661	$1,600	$2.42	44d	1	0.80mi
66 Dodd Ave Unit 2 Bridgeport, CT	2.0	1.0	728	$2,450	$3.37	12d	1	0.92mi
66 Dodd Ave Bridgeport, CT	1.0	1.0	728	$2,150	$2.95	12d	1	0.92mi
150 Anton St Bridgeport, CT	1.0	1.0–1.5	532	$2,090	$3.92	3d	4	1.05mi
80 Taft Ave Bridgeport, CT	1.0–2.0	1.0	645	$1,750	$2.71	44d	2	1.16mi
120 Morgan Ave Bridgeport, CT	1.0	1.0	545	$1,500	$2.75	24d	1	1.23mi
116 Ogden St Unit 120 Bridgeport, CT	2.0	1.0	688	$2,375	$3.45	3d	1	1.43mi

HOA detail condo

• Monthly dues: $349 · $4,188/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-05-08
   status Under Contract 419-char remark

   Show marketing remark (419 chars)

   Well maintained 1 bedroom, 1 bath condo featuring a functional galley kitchen and an open concept living and dining area, perfect for comfortable everyday living and entertaining. The unit offers a spacious bedroom, ample closet space, and great natural light throughout. Ideal for first time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major highways. Don't miss this opportunity!

2. 2026-04-15
   listed $134,000 Active 419-char remark

   Show marketing remark (419 chars)

   Well maintained 1 bedroom, 1 bath condo featuring a functional galley kitchen and an open concept living and dining area, perfect for comfortable everyday living and entertaining. The unit offers a spacious bedroom, ample closet space, and great natural light throughout. Ideal for first time buyers, downsizers, or investors. Conveniently located near shopping, dining, and major highways. Don't miss this opportunity!

3. 2006-04-12
   soldstatus $72,000
4. 2006-04-11
   soldstatus $72,000
5. 2006-02-09
   listed $79,500

ⓘ 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: $1,520 · $127/mo
• Projected year-2 tax: $2,194 · $183/mo
• Expected delta: +$674/yr (+$56/mo · 44.3%)

ⓘ 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: $22,099
• − Mortgage interest: −$7,506
• − Property taxes: −$1,520
• − Insurance: −$670
• − Repairs & maintenance: −$1,768
• − Management: −$1,768
• − HOA: −$4,188
• − Depreciation: −$3,898
• Taxable income: $781
• Est. tax owed @ 24.0%: −$187
• After-tax cash flow: $2,460/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): 49,308
• Household income: $73,372
• Rent vs Own: 42.9% rent · 57.1% own
• Severe rent burden: 2163.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: Hispanic / Latino 37% White 31% Black 19% Two or more races 11% Asian 7%
• Hispanic origin (detail): Mexican 5% Puerto Rican 12% Dominican 4%
• Common ancestry: Estonian 5% Russian 4% Romanian 3%
• Foreign-born: 37% · Canada, Jamaica, Vietnam
• Languages at home: 50% English-only · Spanish 27% Other Indo-European 15% 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: ▼ -270.11%
• Current HPI: 345.647
• Rent YoY: ▲ 3.12%
• 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

+68.6% since first listed

5 events — show timeline

• 2026-05-08 Pending — Smart MLS
• 2026-04-15 Listed $134,000 Smart MLS
• 2006-04-12 Sold (Public Records) $72,000 Public Records
• 2006-04-11 Sold (MLS) $72,000 Smart MLS
• 2006-02-09 Listed $79,500 Smart MLS

Property tax history

-4.4%/yr

Latest (2023): $1,520 · +0.0% YoY. Source: county tax records.