593 Wayne St · Bridgeport, CT 06606

$399,900

4 bd · 2.0 ba · 1,812 sqft · MultiFamily public records · 6 Days on market

Built 1914 0.34 ac lot Est $507k · 21% under

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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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.9/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Multi-Family Opportunity in Bridgeport! 2-family property offering a total of 4 bedrooms and 2 full bathrooms. This property features a newer asphalt roof (approximately 3 years old). The second-floor unit is currently tenant-occupied at $700/month, offering immediate rental income potential. The first-floor unit provides flexibility for owner-occupancy or additional rental income. Conveniently located near local amenities, shopping, dining, and major transportation routes. Whether you're looking to invest or occupy, this property presents a solid opportunity with income-generating potential. Shared driveway.

Key facts

• 0.34 acre lot
• 2 garage spots
• Built 1914

🏷️ Possibly a rental listed for sale. The $399,900 price doesn't fit this home's estimated sale value (~$507,360) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $646 ($8k/yr) — positive. Per door: $323/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $400k).
• Cap rate 8.2% 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; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $4,345/mo this rent would consume 71% of the median local household income ($73k/yr) (locally 2163% 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 $12k of value loss. Plan a longer hold.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• 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 $399,900

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.09% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.92%
• DSCR: 1.31
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $507,360
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
157 Madison Ter	0.68mi	4/2.0	1,854 (+2%)	10mo	$520,000	$280	56
214 Ruth St	0.42mi	4/2.0	1,968 (+9%)	22mo	$495,000	$252	48

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.79×
• Total profit: $-23,080
• Equity at exit: $59,626

10-year hold

• IRR: 4.3%
• Equity multiple: 1.32×
• Total profit: $35,331
• Equity at exit: $34,576

Cash invested: $111,972 (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: 15.3×

Monthly cashflow live

• Estimated rent: $4,345 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$523 /mo · $6,279/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$912
• Net cashflow: $646

Break-even live

Break-even rent $3,528

Max offer price $399,900

Occupancy floor 80%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,346
Total (2 units)			$4,345

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
415 Savoy St Bridgeport, CT	3.0	3.0	1850	$3,500	$1.89	43d	1	0.19mi
68-70 Westfield Ave Bridgeport, CT	4.0	2.0	1470	$3,200	$2.18	14d	1	0.20mi
457 Summit St Bridgeport, CT	3.0	1.5	1511	$4,000	$2.65	43d	1	0.33mi
123 Harmony St Bridgeport, CT	3.0	1.0	2000	$2,500	$1.25	43d	1	0.38mi
57 Robin St Unit 57 Bridgeport, CT	3.0	1.0	1900	$2,400	$1.26	23d	1	0.46mi
318 Valley Ave Bridgeport, CT	4.0	2.0	1718	$3,250	$1.89	23d	1	0.55mi
340 Pleasantview Ave Unit 2nd/3rd floors Bridgeport, CT	4.0	2.0	1728	$3,000	$1.74	43d	1	0.57mi
127 Englewood Ave Bridgeport, CT	3.0	2.0	1530	$3,800	$2.48	43d	1	0.58mi
120 Englewood Ave Bridgeport, CT	4.0	2.0	1675	$3,650	$2.18	3d	1	0.61mi
927 Birmingham St Bridgeport, CT	4.0	2.0	1362	$3,800	$2.79	2d	1	0.63mi
14 Infield St Bridgeport, CT	3.0	2.5	1344	$3,200	$2.38	43d	1	0.64mi
180 Pleasantview Ave Bridgeport, CT	3.0	2.0	1373	$3,700	$2.69	43d	1	0.66mi
125 High Ridge Dr Bridgeport, CT	4.0	1.5	2160	$3,400	$1.57	2d	1	0.69mi
574 Chopsey Hill Rd Unit A Bridgeport, CT	3.0	2.0	2304	$2,800	$1.22	14d	1	0.72mi
666 Capitol Ave Unit 2 Bridgeport, CT	3.0	1.0	1247	$2,400	$1.92	43d	1	0.74mi
15 Overland Ave Bridgeport, CT	3.0	2.5	1713	$4,700	$2.74	43d	1	0.76mi
235 High Ridge Dr Bridgeport, CT	3.0	2.5	1333	$3,000	$2.25	43d	1	0.78mi
95 Marcel St Bridgeport, CT	5.0	2.0	1404	$4,000	$2.85	43d	1	0.82mi
2395 Main St Unit Second Floor Bridgeport, CT	3.0	1.0	1262	$2,400	$1.90	43d	1	0.85mi
2395 Main St Unit First Floor Bridgeport, CT	3.0	1.0	1262	$2,300	$1.82	11d	1	0.85mi
51 Indian Ave Unit 1546115P Bridgeport, CT	3.0	1.0	1388	$3,871	$2.79	11d	1	0.87mi
69 Platt Pl Bridgeport, CT	3.0	3.5	2376	$4,400	$1.85	2d	1	0.88mi
145 Rooster River Blvd Bridgeport, CT	5.0	2.0	1452	$3,800	$2.62	2d	1	0.89mi
111 Vanguard St Bridgeport, CT	5.0	3.5	1868	$4,800	$2.57	3d	1	0.91mi
110 Grenelle St Bridgeport, CT	3.0	1.0	1351	$4,000	$2.96	3d	1	0.92mi
95 Parrott Ave Bridgeport, CT	4.0	1.0	1782	$3,450	$1.94	23d	1	0.96mi
1079 Brooklawn Ave Fairfield, CT	3.0	1.5	1296	$3,550	$2.74	3d	1	1.01mi
192 Frenchtown Rd Bridgeport, CT	3.0	3.5	1744	$4,200	$2.41	43d	1	1.03mi
2445 Park Ave #10 Bridgeport, CT	3.0	2.5	2043	$3,650	$1.79	10d	1	1.03mi
130 Deramo Pl Bridgeport, CT	3.0	1.5	1252	$3,700	$2.96	2d	1	1.05mi
52-54 Ives Ct Bridgeport, CT	4.0	1.0	2092	$2,750	$1.31	43d	1	1.15mi
139 Little Deer Rd Bridgeport, CT	4.0	2.0	1420	$3,600	$2.54	43d	1	1.20mi
70 Hawthorne St Bridgeport, CT	3.0	1.5	2376	$3,500	$1.47	43d	1	1.24mi
1254 Reservoir Ave Bridgeport, CT	3.0	1.0	2576	$2,500	$0.97	43d	1	1.28mi
306 Madison Ave Bridgeport, CT	3.0	1.0	1300	$2,500	$1.92	43d	1	1.34mi
111 Arcadia Ave Bridgeport, CT	4.0	1.5	2010	$4,000	$1.99	2d	1	1.36mi
95 Balsam Ave Unit 2 Bridgeport, CT	4.0	1.0	2432	$2,700	$1.11	43d	1	1.46mi
96 Balsam Ave Unit 2 Bridgeport, CT	3.0	1.0	1792	$2,400	$1.34	43d	1	1.48mi
25 Quinsey Dr Bridgeport, CT	5.0	2.0	2081	$4,375	$2.10	2d	1	1.48mi
1223 Stratfield Rd #1223 Fairfield, CT	3.0	2.0	1670	$3,850	$2.31	14d	1	1.48mi

Listing history 3 events

1. 2026-04-14
   status Under Contract
2. 2026-04-08
   listed $399,900 Active
3. 2026-04-07
   historical $399,900

ⓘ 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: $6,279 · $523/mo
• Projected year-2 tax: $7,418 · $618/mo
• Expected delta: +$1,139/yr (+$95/mo · 18.1%)

ⓘ 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: $52,140
• − Mortgage interest: −$22,401
• − Property taxes: −$6,279
• − Insurance: −$2,000
• − Repairs & maintenance: −$4,171
• − Management: −$4,171
• − Depreciation: −$11,633
• Taxable income: $1,485
• Est. tax owed @ 24.0%: −$356
• After-tax cash flow: $7,390/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

+0.0% since first listed

3 events — show timeline

• 2026-04-14 Pending — Smart MLS
• 2026-04-08 Listed $399,900 Smart MLS
• 2026-04-07 Coming Soon $399,900 Smart MLS

Property tax history

-0.8%/yr

Latest (2023): $6,279 · +0.0% YoY. Source: county tax records.