1403 Boston Ave · Bridgeport, CT 06610

$425,000

6 bd · 3.0 ba · 2,585 sqft · MultiFamily public records · 41 Days on market

Built 1912 6,969 sqft lot $164/sqft · 23% below area Est $555k · 23% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• 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: 3 units. confirmed

Listing remarks MLS

Excellent investment opportunity in Bridgeport! This 3-family property offers significant upside potential for savvy investors or contractors looking for their next project. The finished 3rd floor provides immediate value, while the 1st and 2nd floors have been fully gutted offering a blank canvas to design and renovate to your specifications. With strong rental potential and increasing demand for multi-family housing in the area, this property presents a chance to maximize returns once completed. Ideal for fix-and-flip, long-term hold, or income-producing strategy. Property is being sold strictly as-is. Buyers and agents to perform their own due diligence. Don't miss the opportunity to transform this property into a high-performing asset!

Key facts

• Multi family housing
• Finished 3rd floor
• 6,969 sq ft lot

Tags

• FINISHED 3RD FLOOR
• STRONG RENTAL POTENTIAL
• MULTI FAMILY HOUSING

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $564/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $425k).
• Recommended offer: $412k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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+, 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: 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).
• At $5,914/mo this rent would consume 137% of the median local household income ($52k/yr) (locally 1368% 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 $13k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $119k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($412k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 54% 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 $412,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.39% ✓
• Cap rate: 11.07%
• Cash-on-cash: 17.07%
• DSCR: 1.76
• GRM: 6.0

CMA / ARV

• ARV (median comp): $555,010
• List price: $425,000
• Delta: -23.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1402 Boston Ave	0.04mi	5/2.5 (-1)	2,420 (-6%)	8mo	$410,000	$169	74
1943-1949 Seaview Ave	0.31mi	6/2.5	2,700 (+4%)	2mo	$550,000	$204	74
129 Price St	0.32mi	5/2.0 (-1)	2,464 (-5%)	2mo	$590,000	$239	66
652 Bishop Ave	0.59mi	6/3.0	2,686 (+4%)	5mo	$550,000	$205	62
1248 Pembroke St	0.51mi	6/2.0	2,310 (-11%)	3mo	$460,000	$199	52
123-125 Summerfield Ave	0.42mi	7/3.0 (+1)	2,288 (-12%)	5mo	$660,000	$288	52
123 Summerfield Ave	0.42mi	7/3.0 (+1)	2,288 (-12%)	6mo	$660,000	$288	52
578 Granfield Ave	0.61mi	7/4.0 (+1)	2,596 (+0%)	14mo	$525,000	$202	50
289 Pearl Harbor St	0.55mi	5/2.0 (-1)	2,358 (-9%)	2mo	$375,000	$159	49
580 Shelton St	0.59mi	6/2.0	2,805 (+8%)	11mo	$590,000	$210	45
509 Ogden St	0.62mi	6/2.0	2,849 (+10%)	9mo	$420,000	$147	43
135 N Bishop Ave	0.56mi	5/2.0 (-1)	2,337 (-10%)	12mo	$450,000	$193	38

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $39,042
• Equity at exit: $63,369

10-year hold

• IRR: 17.6%
• Equity multiple: 2.46×
• Total profit: $173,269
• Equity at exit: $36,746

Cash invested: $119,000 (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: 18.0×

Monthly cashflow live

• Estimated rent: $5,914 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$574 /mo · $6,885/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,242
• Net cashflow: $1,692

Break-even live

Break-even rent $3,772

Max offer price $425,000

Occupancy floor 66%

Sensitivity live

Price	-10% $1,933	-5% $1,813	+0% $1,692	+5% $1,572	+10% $1,452
Rent	-10% $1,225	-5% $1,459	+0% $1,692	+5% $1,926	+10% $2,160
Rate	-1.0pp $1,907	-0.5pp $1,801	base $1,692	+0.5pp $1,582	+1.0pp $1,470

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$5,913
Total (3 units)			$5,914

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
479 Putnam St Unit 3R Bridgeport, CT	5.0	2.0	2000	$2,350	$1.18	20d	1	0.50mi
20 Pearl Harbor Cir Bridgeport, CT	5.0	2.0	2290	$3,500	$1.53	3d	1	0.87mi
7 Armstrong Pl Bridgeport, CT	5.0	1.0	2449	$2,750	$1.12	24d	1	1.09mi

Listing history 5 events

1. 2026-06-02
   status $425,000 Under Contract 41 DOM
2. 2026-06-01
   days on market $425,000 Under Contract - Continue to Show 41 DOM
3. 2026-05-31
   days on market $425,000 Under Contract - Continue to Show 40 DOM
4. 2026-05-06
   historical Under Contract - Continue to Show 751-char remark

   Show marketing remark (751 chars)

   Excellent investment opportunity in Bridgeport! This 3-family property offers significant upside potential for savvy investors or contractors looking for their next project. The finished 3rd floor provides immediate value, while the 1st and 2nd floors have been fully gutted offering a blank canvas to design and renovate to your specifications. With strong rental potential and increasing demand for multi-family housing in the area, this property presents a chance to maximize returns once completed. Ideal for fix-and-flip, long-term hold, or income-producing strategy. Property is being sold strictly as-is. Buyers and agents to perform their own due diligence. Don't miss the opportunity to transform this property into a high-performing asset!

5. 2026-04-21
   listed $425,000 Active 751-char remark

   Show marketing remark (751 chars)

   Excellent investment opportunity in Bridgeport! This 3-family property offers significant upside potential for savvy investors or contractors looking for their next project. The finished 3rd floor provides immediate value, while the 1st and 2nd floors have been fully gutted offering a blank canvas to design and renovate to your specifications. With strong rental potential and increasing demand for multi-family housing in the area, this property presents a chance to maximize returns once completed. Ideal for fix-and-flip, long-term hold, or income-producing strategy. Property is being sold strictly as-is. Buyers and agents to perform their own due diligence. Don't miss the opportunity to transform this property into a high-performing asset!

ⓘ 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: $6,885 · $574/mo
• Projected year-2 tax: $7,990 · $666/mo
• Expected delta: +$1,105/yr (+$92/mo · 16.0%)

ⓘ 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 54% 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: $70,968
• − Mortgage interest: −$23,807
• − Property taxes: −$6,885
• − Insurance: −$2,125
• − Repairs & maintenance: −$5,677
• − Management: −$5,677
• − Depreciation: −$12,364
• Taxable income: $14,433
• Est. tax owed @ 24.0%: −$3,464
• After-tax cash flow: $16,846/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): 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

2 events — show timeline

• 2026-05-06 Contingent — Smart MLS
• 2026-04-21 Listed $425,000 Smart MLS

Property tax history

-0.2%/yr

Latest (2023): $6,885 · +0.0% YoY. Source: county tax records.