Bridgeport, CT- Water Bill Estimate

7 Replies

Hello all,

I am researching a property in Bridgeport, CT. I can’t seem to find anything regarding average water bill, or any kind of expectations. The property that I am interested in is a 4 family unit and the owner is hoping to sell this unit privately. The numbers look good but when speaking with him he stated that the water bill and sewer bill averaged out to about $100 per month each. This would be my first property and I’m naturally skeptical. Doesn’t a $100 water bill for a 4-family unit sound rather low? I’m new to the game so any help would be appreciated. He sounds like a seasoned investor so I’m sure he can sniff out someone way less experienced (me!).

Does anyone have any guidance or direct experience in Bridgeport? If he’s claiming $100/month and it ends up being $500.....well that certainly is a deal killer. If anyone could help I would appreciate it. Thanks! 

@Jose Centeno , yes, that sounds a little low. I figure $30-40/unit/month.

Since you're looking at a specific property, just call up the town and ask what the last year's charges were. While you're on the phone ask for the neighbor's bills, too. That way you can see if the costs are in line with similar properties.

@Jose Centeno Ask him to provide you with past bills in order to verify the numbers he is claiming. This is a very standard part of the due diligence process that buyers do when they get the property under contract. You can also try calling the city and see if they can give you past bill amounts for the address. 

@Jose Centeno - The local utilities typically give this info out at no charge.  If it does end up being high, there could be a some issue with leaking, so try to get a sense of what is "normal" for your property type.