355 Granfield Ave · Bridgeport, CT 06610

$40,000

1 bd · 1.0 ba · 401 sqft · Condo · 17 Days on market

Built 1941 Good condition $739/mo HOA · 45% of rent ↓ 24% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

First floor ranch style one bedroom cooperative with new cabinets and range. A refrigerator will be installed by closing. Home must be owner occupied and must have a minimum gross monthly income of $4,000 and a credit score of 650 or higher. Cash purchase only. HOA includes heat, water, real estate taxes, sewer, common grounds maintenance and taxes. There is a non-refundable $100 application with an expediated acceptance process. Enjoy economical living at its best at Success Village cooperatives. This is a Success Village owned home and according to management the heating issues have been resolved. Success Village is currently under Receivership.

Key facts

• $739 HOA
• Parking
• Built 1941

Property features AI

Finance

• Other: Pets allowed with restrictions (contact cooperative for details); Total number of units in complex: 924
• HOA & community: Has homeowners association; Monthly association fee; Association fee covers heat, hot water, water, sewer, property management, and taxes

Exterior

• Parking: Assigned parking (1 space)
• Utilities: Public water; Public sewer
• Home design: Co-op unit; Condo/Co-Op property type; Located in Success Village Apts Co-op complex
• Construction: Concrete construction
• Exterior features: Brick exterior; Level lot

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiator heat (natural gas); Hot water: other
• Interior features: One-level unit; No basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 4.8% 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+.
• 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.
• Zoned schools: Warren Harding High School (math 2% / reading 8%, grade F, #192 of 194 statewide, top 100%, 1,109 students, 82% FRL) — zoned schools average 82% FRL vs 97% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 68 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 38% of the median local income ($52k/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 $277 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 45% of rent; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 51% 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 $39,400 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 4.12% ✓
• Cap rate: 14.93%
• Cash-on-cash: 30.83%
• DSCR: 2.37
• GRM: 2.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 26.3%
• Equity multiple: 2.10×
• Total profit: $12,325
• Equity at exit: $5,964

10-year hold

• IRR: 34.3%
• Equity multiple: 4.24×
• Total profit: $36,278
• Equity at exit: $3,458

Cash invested: $11,200 (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 06610

• Home prices YoY: -7.5%
• Active inventory: 68
• Price-to-rent: 2.0×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$739
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $288

Break-even live

Break-even rent $1,285

Max offer price $40,000

Occupancy floor 78%

Sensitivity live

Price	-10% $315	-5% $302	+0% $288	+5% $274	+10% $260
Rent	-10% $157	-5% $223	+0% $288	+5% $353	+10% $418
Rate	-1.0pp $308	-0.5pp $298	base $288	+0.5pp $277	+1.0pp $267

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1575 Boston Ave Unit C5 Bridgeport, CT	—	1.0	316	$1,300	$4.11	45d	1	0.32mi
855 Main St Bridgeport, CT	1.0	1.0	490	$2,380	$4.86	20d	10	1.33mi
855 Main St Bridgeport, CT	1.0	1.0	490	$2,380	$4.86	4d	10	1.33mi

HOA detail condo

• Monthly dues: $739 · $8,868/yr
• Likely covers: watersewerlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $40,000 Active 17 DOM
2. 2026-06-17
   days on market $40,000 Active 16 DOM
3. 2026-06-16
   days on market $40,000 Active 15 DOM
4. 2026-06-15
   days on market $40,000 Active 14 DOM
5. 2026-06-13
   days on market $40,000 Active 12 DOM
6. 2026-06-13
   days on market $40,000 Active 11 DOM
7. 2026-06-10
   days on market $40,000 Active 9 DOM
8. 2026-06-09
   days on market $40,000 Active 8 DOM
9. 2026-06-08
   days on market $40,000 Active 7 DOM
10. 2026-06-07
    days on market $40,000 Active 6 DOM
11. 2026-06-05
    days on market $40,000 Active 3 DOM
12. 2026-06-03
    days on market $40,000 Active 2 DOM
13. 2026-06-02
    remarks 385-char remark
14. 2026-06-02
    listed $40,000 Active 1 DOM

ⓘ 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 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 51% 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: $19,795
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$8,868
• − Depreciation: −$1,164
• Taxable income: $3,556
• Est. tax owed @ 24.0%: −$853
• After-tax cash flow: $2,600/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 · 12 photos

Good 75/100 Cosmetic rehab

This co-op unit is in good condition with recent updates, making it a solid investment with potential for both resale and rental value.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both new flooring — improves aesthetics and durability
• Both new kitchen appliances — modernizes the space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both new flooring — improves aesthetics and durability ↑
• Both new kitchen appliances — modernizes the space and adds value ↑

ⓘ 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): 22,020
• Household income: $51,634
• Rent vs Own: 50.6% rent · 49.4% own
• Severe rent burden: 1368.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: Hispanic / Latino 51% Black 23% White 20% Two or more races 14% Asian 3% Native American 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 30% Dominican 6%
• Common ancestry: Romanian 4% Estonian 3% Hispanic 2%
• Foreign-born: 31% · Canada, Jamaica, Vietnam
• Languages at home: 47% English-only · Spanish 40% Other Indo-European 5% Russian/Polish/Slavic 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: ▼ -29.78%
• Current HPI: 370.1432
• Rent YoY: —
• 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

-23.8% since first listed

6 events — show timeline

• 2026-06-01 Listed $40,000 Smart MLS
• 2025-08-22 Pending — Smart MLS
• 2025-08-21 Sold (MLS) $42,000 Smart MLS
• 2025-07-15 Contingent — Smart MLS
• 2025-06-13 Price Changed $46,500 Smart MLS
• 2025-05-16 Listed $52,500 Smart MLS