1040 Connecticut Ave · Bridgeport, CT 06607

$125,000

2 bd · 1.0 ba · 1,000 sqft · Condo · 50 Days on market

Built 1915 Good condition $467/mo HOA

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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 +25.3/30.0
• 1% rule +10.0/10.0
• Appreciation +10.0/10.0
• DSCR +8.3/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Schools +1.2/10.0

Listing remarks MLS

PURCHASE WITH AS LITTLE AS 3% DOWN. GREAT RENTAL ALTERNATIVE WITH CONVENIENT LOCATION. 2ND FLR UNIT IN NEED OF BEING UPDATED. PLEASE SEE THE AGENT NOTES WITH REGARDS TO POSSIBLE FINANCING AND FOR PLACING OFFERS. PLEASE NOTE THIS IS A CO-OP AND THERE ISN'T AN INDIVIDUAL TAX RECORD. ALL INFORMATION WAS ENTERED TO THE BEST OF OUR KNOWLEDGE AND BUYERS NEED TO COMPLETE THEIR DUE DILIGENCE. BUYERS WILL HAVE TO BE APPRVOED BY THE CO-OP BOARD AND PAY A $125 APPLICATION FEE.

Key facts

• Stainless appliances
• Rear stairway
• Additional storage

Tags

• NEWLY REMODELED
• LUXURY VINYL FLOORING
• STAINLESS APPLIANCES
• UPGRADED AND REMODELED
• REAR STAIRWAY
• ADDITIONAL STORAGE

Property features AI

Finance

• Other: Pets allowed
• Financial info: $467 monthly HOA fee; Professionally managed off site
• HOA & community: Homeowners association with monthly fee; Monthly association fee includes trash pickup, snow removal, heat, water, sewer, property management and taxes

Exterior

• Utilities: Public water connected; Public sewer in street; Natural gas
• Home design: Co-op unit (Condo/Co-Op); Located on unit floor 2; Part of Gateway Co-Ops
• Construction: Brick construction; Red brick color
• Exterior features: Brick exterior; Sidewalk; Garden area; City views

Interior

• Kitchen: Electric range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Radiator heat (natural gas); Hot water from electric 50-gallon tank
• Interior features: Total of 4 rooms; One-level unit; Basement is partial and unfinished with concrete floor, storage space and a partial walk-out; Attic with storage space and pull-down stairs
• Laundry & utility: Laundry area formerly located off the kitchen

🏢 Co-op / cooperative unit. The $125,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: 33 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $2,045/mo this rent would consume 49% of the median local household income ($50k/yr) (locally 534% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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 $11k; list at $125k implies a 1036% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent; built in 1915 — 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.64% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.75%
• DSCR: 1.43
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.5%
• Equity multiple: 3.47×
• Total profit: $86,514
• Equity at exit: $112,610

10-year hold

• IRR: 27.3%
• Equity multiple: 7.89×
• Total profit: $241,154
• Equity at exit: $242,848

Cash invested: $35,000 (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 06607

• Home prices YoY: 4.7%
• Active inventory: 33
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,045 high
• Mortgage (P&I): −$656
• Tax est. 1.5%: −$156 /mo · $1,875/yr
• Insurance: −$52
• HOA: −$467
• Vacancy / Maint / Mgmt: −$429
• Net cashflow: $284

Break-even live

Break-even rent $1,685

Max offer price $125,000

Occupancy floor 81%

Sensitivity live

Price	-10% $371	-5% $328	+0% $284	+5% $241	+10% $198
Rent	-10% $123	-5% $204	+0% $284	+5% $365	+10% $446
Rate	-1.0pp $347	-0.5pp $316	base $284	+0.5pp $252	+1.0pp $219

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
56-58 Edwin St Unit 2 Bridgeport, CT	2.0	1.0	900	$1,900	$2.11	44d	1	0.20mi
458 Hollister Ave Unit 2nd Bridgeport, CT	3.0	1.0	1100	$1,899	$1.73	44d	1	0.20mi
415 Logan St Unit 2nd Floor Bridgeport, CT	3.0	1.0	1500	$2,000	$1.33	44d	1	0.21mi
481 Hollister Ave Unit 2nd Bridgeport, CT	3.0	1.0	1250	$2,000	$1.60	24d	1	0.21mi
45-51 Cowles St Unit 45 Bridgeport, CT	3.0	1.0	1200	$2,600	$2.17	15d	1	0.26mi
45-51 Cowles St Unit 45 Bridgeport, CT	3.0	1.0	1200	$2,550	$2.12	22d	1	0.26mi
45-51 Cowles St Unit 45 Bridgeport, CT	3.0	1.0	1200	$2,400	$2.00	4d	1	0.26mi
1415 Stratford Ave Bridgeport, CT	2.0	1.0	1260	$2,300	$1.83	44d	1	0.33mi
1400 Stratford Ave Bridgeport, CT	2.0	1.0	950	$2,000	$2.11	44d	1	0.35mi
647 Union Ave Unit 2 Bridgeport, CT	2.0	1.0	750	$1,675	$2.23	4d	1	0.36mi
153 Hollister Ave Bridgeport, CT	3.0	1.0	1350	$1,900	$1.41	4d	1	0.43mi
53 Pixlee Pl Unit 2nd Bridgeport, CT	3.0	1.0	1475	$2,195	$1.49	4d	1	0.43mi
1804 Barnum Ave Unit 10 Bridgeport, CT	2.0	1.0	1100	$2,000	$1.82	44d	1	0.44mi
253 East Ave Unit 253 Bridgeport, CT	2.0	1.0	1267	$1,750	$1.38	24d	1	0.44mi
125 Hollister Ave Bridgeport, CT	2.0	1.0	1153	$1,700	$1.47	24d	1	0.45mi
123 Summerfield Ave Bridgeport, CT	2.0	1.0	1026	$2,300	$2.24	44d	1	0.47mi
556 Hollister St Stratford, CT	1.0–2.0	1.0	725	$2,295	$3.17	12d	4	0.48mi
110-112 Pixlee Pl Unit 2 Bridgeport, CT	2.0	1.0	1151	$1,800	$1.56	22d	1	0.49mi
166 6th St Bridgeport, CT	3.0	1.0	1100	$2,300	$2.09	20d	1	0.50mi
324 Union Ave Bridgeport, CT	3.0	1.0	1200	$2,000	$1.67	44d	1	0.50mi
75 Judson Pl Bridgeport, CT	3.0	1.5	1384	$2,850	$2.06	15d	1	0.52mi
467 Connecticut Ave Unit 3 Bridgeport, CT	2.0	1.0	820	$1,700	$2.07	24d	1	0.56mi
463-465 Connecticut Ave Unit 3 Bridgeport, CT	2.0	1.0	820	$1,700	$2.07	24d	1	0.56mi
250 Summerfield Ave Unit 1 Bridgeport, CT	2.0	1.0	1000	$1,875	$1.88	4d	1	0.57mi
334 Hollister St Unit 2 Stratford, CT	2.0	1.0	832	$2,200	$2.64	12d	1	0.58mi
1525 Central Ave Bridgeport, CT	1.0	1.0	625	$1,550	$2.48	44d	3	0.58mi
601 Newfield Ave Bridgeport, CT	3.0	1.0	1047	$2,300	$2.20	44d	1	0.60mi
2336 Barnum Ave Stratford, CT	2.0	1.0	1272	$1,950	$1.53	4d	1	0.61mi
129 Sage Ave Unit 2R Bridgeport, CT	2.0	1.0	1030	$1,750	$1.70	22d	1	0.62mi
192 Peace St Unit 1st floor Stratford, CT	2.0	1.0	712	$2,000	$2.81	44d	1	0.63mi
333 Ridgefield Ave Bridgeport, CT	3.0	1.0	1400	$2,250	$1.61	4d	1	0.64mi
335 Ridgefield Ave Bridgeport, CT	3.0	1.0	1400	$2,250	$1.61	4d	1	0.64mi
246 Judson Pl Apt B Bridgeport, CT	3.0	1.0	1000	$2,800	$2.80	15d	1	0.65mi
222 Beardsley St Unit 2nd floor Bridgeport, CT	2.0	1.0	934	$2,000	$2.14	12d	1	0.68mi
222 Beardsley St Unit 3rd floor Bridgeport, CT	2.0	1.0	732	$2,000	$2.73	44d	1	0.68mi
62 Clifford St Bridgeport, CT	3.0	1.5	1134	$2,500	$2.20	24d	1	0.68mi
1880 Seaview Ave Unit 3 Bridgeport, CT	1.0	1.0	1003	$1,300	$1.30	15d	1	0.69mi
136 Peace St Unit 4 Stratford, CT	2.0	1.0	800	$1,700	$2.12	44d	1	0.69mi
1150 Ogden Street Ext Unit 305 Bridgeport, CT	1.0	1.0	780	$1,425	$1.83	44d	1	0.73mi
1150 Ogden Street Ext Unit 102 Bridgeport, CT	1.0	1.0	700	$1,425	$2.04	15d	1	0.73mi

HOA detail condo

• Monthly dues: $467 · $5,604/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 50 DOM
2. 2026-06-17
   days on market $125,000 Active 49 DOM
3. 2026-06-16
   days on market $125,000 Active 48 DOM
4. 2026-06-15
   days on market $125,000 Active 47 DOM
5. 2026-06-13
   days on market $125,000 Active 45 DOM
6. 2026-06-13
   days on market $125,000 Active 44 DOM
7. 2026-06-10
   days on market $125,000 Active 42 DOM
8. 2026-06-09
   days on market $125,000 Active 41 DOM
9. 2026-06-08
   days on market $125,000 Active 40 DOM
10. 2026-06-07
    days on market $125,000 Active 39 DOM
11. 2026-06-05
    days on market $125,000 Active 36 DOM
12. 2026-06-03
    days on market $125,000 Active 35 DOM
13. 2026-06-03
    days on market $125,000 Active 34 DOM
14. 2026-06-01
    days on market $125,000 Active 33 DOM
15. 2026-05-31
    days on market $125,000 Active 32 DOM
16. 2026-04-28
    listed $125,000 Active 1277-char remark
17. 2013-02-28
    soldstatus $11,000 470-char remark

    Show marketing remark (470 chars)

    PURCHASE WITH AS LITTLE AS 3% DOWN. GREAT RENTAL ALTERNATIVE WITH CONVENIENT LOCATION. 2ND FLR UNIT IN NEED OF BEING UPDATED. PLEASE SEE THE AGENT NOTES WITH REGARDS TO POSSIBLE FINANCING AND FOR PLACING OFFERS. PLEASE NOTE THIS IS A CO-OP AND THERE ISN'T AN INDIVIDUAL TAX RECORD. ALL INFORMATION WAS ENTERED TO THE BEST OF OUR KNOWLEDGE AND BUYERS NEED TO COMPLETE THEIR DUE DILIGENCE. BUYERS WILL HAVE TO BE APPRVOED BY THE CO-OP BOARD AND PAY A $125 APPLICATION FEE.

18. 2012-12-14
    listed $9,900 470-char remark

    Show marketing remark (470 chars)

    PURCHASE WITH AS LITTLE AS 3% DOWN. GREAT RENTAL ALTERNATIVE WITH CONVENIENT LOCATION. 2ND FLR UNIT IN NEED OF BEING UPDATED. PLEASE SEE THE AGENT NOTES WITH REGARDS TO POSSIBLE FINANCING AND FOR PLACING OFFERS. PLEASE NOTE THIS IS A CO-OP AND THERE ISN'T AN INDIVIDUAL TAX RECORD. ALL INFORMATION WAS ENTERED TO THE BEST OF OUR KNOWLEDGE AND BUYERS NEED TO COMPLETE THEIR DUE DILIGENCE. BUYERS WILL HAVE TO BE APPRVOED BY THE CO-OP BOARD AND PAY A $125 APPLICATION FEE.

ⓘ 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 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: $24,536
• − Mortgage interest: −$7,002
• − Property taxes: −$1,875
• − Insurance: −$625
• − Repairs & maintenance: −$1,963
• − Management: −$1,963
• − HOA: −$5,604
• − Depreciation: −$3,636
• Taxable income: $1,868
• Est. tax owed @ 24.0%: −$448
• After-tax cash flow: $2,965/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 80/100 None rehab

This property is a well-maintained, recently renovated 2nd floor unit in a co-op complex. It features new appliances, flooring, and windows, making it ready for immediate occupancy.

Value-add opportunities

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental 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): 7,979
• Household income: $50,000
• Rent vs Own: 59.7% rent · 40.3% own
• Severe rent burden: 534.0

Population outlook (Greater Bridgeport County) Hauer SSP2

• By 2040: 365,581

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Hispanic / Latino 57% Black 31% Two or more races 19% Asian 6% White 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 32% Cuban 4% Dominican 4%
• Common ancestry: Estonian 1% Russian 1%
• Foreign-born: 25% · Canada, Vietnam, Jamaica
• Languages at home: 52% English-only · Spanish 42% Other Asian/Pacific 2% Other Indo-European 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: ▲ 26.05%
• Current HPI: 584.8108
• 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

+1162.6% since first listed

3 events — show timeline

• 2026-04-28 Listed $125,000 Smart MLS
• 2013-02-28 Sold (MLS) $11,000 Smart MLS
• 2012-12-14 Listed $9,900 Smart MLS