$465,000 Price Analysis   ♡   Old Lyme, CT 06371 5 bed 2 bath 1,744 SqFt ($266/SqFt) 7,405SqFt lot. Built 1920 Listed 2024-06-24, Taxes $4,432 | ✓ USDA Eligible near Old Lyme, CT |
Explore this exceptional investment opportunity in Old Lyme
CT, ideally positioned right off I-95 and close to the picturesque White Sand Beach Town Beach. This property features two separate units, making it a versatile choice for investors interested in both long-term rentals and short-term accommodations such as Airbnb or for ownr-occupants seeking a residence that can also generate income. The front u nit offers a practical layout with three bedrooms and one bathroom, perfect for families or individuals looking for accessible, comfortable living. The second unit includes two bedrooms and one bathroom, complemented by an attached garage, adding convenience and value.
This arrangement is ideal for owner-occupants looking to offset their mortgage payments and increase cash flow through rental income. Located near a popular local attraction, the property's proximity to the beach enhances its appeal for short-term vacation rentals while maintaining steady demand for long-term leases. This strategic location not provides excellent rental income potential but also offers flexibility in rental strategy to adapt to various market needs and preferences. Whether you're looking to expand your rental portfolio, start in real estate investment or find a home that helps pay for itself, this multi-unit property in Old Lyme represents a smart buy with significant income potential, ideal for diversifying your investment approach.
Presented by Kristopher Tramont at
Real Broker Ct, Llc.
Property MLS #24027842 from SMARTMLS
Basement Description: Full, Unfinished
Full Bathrooms: 2
Heating Features: Heat Fuel Type: Electric, Propane, Heat Type: Baseboard
Heating Fuel: Electric, Propane
Water Heaters: Electric
Lot Size Acres: 0.17
Lot Size Square Feet: 7405
Garage Description: Attached Garage
High School: Per Board of Ed
Map directions Map directions Map directions Map directionsSource Listing Status: Active
County: New London
Availability Date: 2024-06-28
Directions: GPS
Source Property Type: Multi-Family For Sale
Postal Code Plus 4: 1106
Zoning: R15
Property Subtype: 2 Family
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2023 | $129,000 + $59,600 $188,600 | $4,432 |
| 2022 | $129,000 + $59,600 $188,600 | $4,432 |
| 2021 | $129,000 + $59,600 $188,600 | $4,394 |
| 2020 | $129,000 + $59,600 $188,600 | $4,376 |
| 2019 | $122,200 + $62,800 $185,000 | $4,146 |
| 2018 | $122,200 + $62,800 $185,000 | $4,053 |
| 2017 | $122,200 + $62,800 $185,000 | $4,024 |
| 2016 | $122,200 + $62,800 $185,000 | $3,922 |
| 2015 | $122,200 + $62,800 $185,000 | $3,815 |
| 2013 | $154,700 + $62,800 $217,500 | $4,198 |
| 2006 | $108,500 + $69,100 $177,600 | $3,161 |
| 2005 | $108,500 + $69,100 $177,600 | $2,948 |
| 2004 | $70,200 + $33,800 $104,000 | $2,652 |
| 2003 | $70,200 + $33,800 $104,000 | $2,454 |
$465,000
SMARTMLS
Listing removed 2012-02-29
$189,000
CTMLS
Listing removed 2012-02-29
$189,000
CTMLS
Price Changed 2011-12-16
$189,000
CTMLS
Price Changed 2011-12-16
$189,000
CTMLS
Listed 2011-09-02
$219,000
CTMLS
Listed 2011-09-02
$219,000
CTMLS
Sold 2002-02-01
$160,000
Public Record
Sold 1989-11-16
$124,000
Public Record
Year Built: 1920
Above Grade Finished Area: 1744
Attic: Attic Description: Access Via Hatch, Attic YN: Y
Building Exterior Type: Vinyl Siding
Construction Materials: Frame
Foundation Details: Concrete, Stone
Property Age: 104
Total Area Sqft: 1744
Water Source: Private Well
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.