182 Trumbull Ave

Bridgeport, CT 06606

$339,000D

3 bd · 1.0 ba · 1,001 sqft · Built 1941 · SingleFamily · Under Contract · 28 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,932/mo
• Mortgage (P&I): −$1,778
• Tax + insurance: −$578
• HOA: −$0
• Vac / Maint / Mgmt: −$616
• Net cashflow: $-39/mo
• Annual: $-469/yr
• Cap rate: 6.15%
• Cash-on-cash: -0.49%
• DSCR: 0.98
• 1% rule: 0.86%
• Cash to close: $94,920

Investor read

• This is a 3-bed/1.0-bath single-family listed at $339k.
• At list price, monthly cash flow is $-39 ($-469/yr) — negative.
• To cash-flow at today's rent, offer at most $332k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $293k (13.5% below list).
• It's been on market 28 days — a 2% lower offer ($334k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $293k (13.5% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• 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.
• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+3.1%/yr); 152 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 852 units permitted in Greater Bridgeport Planning Region in 2024 (698 in 5+ unit buildings).
• 15 sale attempts since 34y 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.
• 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.
• Cap rate 6.2% vs local median 5.0% in Bridgeport — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• At $2,932/mo this rent would consume 48% 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.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.