NOT LISTED FOR SALE

251 Lebanon Ave Colchester, CT 06415

Estimated Value: $275,000 - $323,000

6 Beds
2 Baths
1,656 Sq Ft
$181/Sq Ft Est. Value

Last Sold April 08, 2021

Last sale price $210,000 $127 Per Sq Ft

Est. 42% increase in value since last sale

Current estimated payment $1,877/month

4 Days on Market

Highlights

  • Partially Wooded Lot
  • Attic
  • Thermal Windows
  • William J. Johnston Middle School Rated A-
  • No HOA
  • Shed

About This Home

As of April 2021

Good money maker in this multi-family close to town. This property is occupied. There are two- 2 bedroom units. First floor unit painted recently with new carpet. Close to airline trail and walk to town. Come see this great investment today. Property price is based on market experience as a two family rental. Bonus value: town zoning approval in place to use the 3rd unit which needs a complete renovation. Approved 3rd unit plans include a 2 br with full bath and laundry. Perfect for owner occupant. Live in one unit and rent the other 2. New electric throughout in 2011 with high efficiency hydronic filled electric baseboards & new asphalt driveway installed 2014. Pictures were from when vacant. Owner agent.

Last Agent to Sell the Property

Jack Faski

Carl Guild & Associates License #REB.0757798 Listed on: 02/24/2021

Co-Listed By

Matthew Faski

Carl Guild & Associates License #RES.0794152

Last Buyer's Agent

Rick Loranger

Coldwell Banker Realty License #REB.0789367

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,842

Year Built

  • Built in 1895

Lot Details

  • 0.41 Acre Lot
  • Level Lot
  • Partially Wooded Lot

Home Design

  • Concrete Foundation
  • Frame Construction
  • Asphalt Shingled Roof
  • Vinyl Siding

Interior Spaces

  • 1,656 Sq Ft Home
  • Thermal Windows

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 2 Full Bathrooms

Attic

  • Attic Floors
  • Walkup Attic

Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House

Parking

  • Driveway
  • Paved Parking

Outdoor Features

  • Shed

Location

  • Property is near shops
  • Property is near a bus stop

Schools

  • Colchester Elementary School
  • Bacon Academy High School

Utilities

  • Floor Furnace
  • Baseboard Heating
  • Radiant Heating System
  • Electric Water Heater

Listing and Financial Details

  • Exclusions: 2 Seater outhouse in back of yard

Community Details

Overview

  • No Home Owners Association
  • 2 Units

Building Details

  • Gross Income $21,600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,842

Year Built

Built in 1895

Lot Details

0

Listing Details

  • Property Type: Multi-Family For Sale
  • Style: Units on different Floors
  • Sq Ft Est Heated Above Grade: 1656
  • Public Record Living Room Sq Ft: 1656
  • Total Sq Ft: 1656
  • Year Built: 1895
  • Nearby Amenities: Park, Shopping/Mall, Walk to Bus Lines
  • Property Sub Type: 2 Family
  • Exclusions: 2 Seater outhouse in back of yard
  • Direct Waterfront: No
  • Home Warranty Offered: Yes
  • Public Record Gross Sq Ft: 3451
  • Tax Year Updated Dt: 02/18/2021
  • Directions: Rt 16 (Lebanon Ave)
  • Special Features: None

Interior Features

  • Total Bedrooms: 6
  • Total Bathrooms: 2.00
  • Full Bathrooms: 2
  • Attic Description: Walk-up, Floored
  • Basement Description: Full With Walk-Out
  • Laundry Room Location: Possible laundry basement
  • Attic: Yes

Exterior Features

  • Exterior Features: Shed
  • Exterior Siding: Vinyl Siding
  • Foundation Type: Concrete
  • Roof Information: Asphalt Shingle
  • Swimming Pool: No
  • Construction Description: Frame

Garage/Parking

  • Garage Parking Info: Paved
  • Driveway Type: Paved

Utilities

  • Heat Type: Baseboard, Radiant
  • Heat Fuel Type: Electric
  • Hot Water Description: Electric
  • Water Source: Public Water Connected
  • Sewer: Public Sewer Connected

Condo/Co-op/Association

  • HOA: No

Green Features

  • Energy Features: Thermopane Windows

Lot Info

  • Acres: 0.4100
  • Lot Description: Level Lot, Lightly Wooded
  • Zoning: R60

Multi Family

  • Gross Annual Income: 21600
  • Unit Count: 3
  • Total Multi Family: 12
  • Total Num Of Units: 2

Tax Info

  • Tax Year: July 2020-June 2021
  • Property Tax: 3842
  • Mil Rate Base: 32.840
  • Assessor Parcel Number: 2336617

MLS Schools

  • Elementary School: Colchester
  • High School: Bacon Academy

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 24, 2021
Closed on
Apr 8, 2021
Sold by
Faski John and Catalano Paul A
Bought by
Star Alexander P
Seller's Agent
Jack Faski
Carl Guild & Associates
Buyer's Agent
Rick Loranger
Coldwell Banker Realty
List Price
$209,000
Sold Price
$210,000
Premium/Discount to List
$1,000
0.48%
Current Estimated Value
$299,102

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$89,102
Avg. Annual Appreciation
8.06%
Original Mortgage
$178,500
Outstanding Balance
$160,904
Interest Rate
2.9%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$138,198

Purchase Details

Closed on
Jul 13, 2011
Sold by
Bank Of America Na
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Oct 26, 2006
Sold by
Gilbert Max
Bought by
Phillips Bradford

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$119,600
Interest Rate
6.48%
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Star Alexander P $210,000 None Available
Federal National Mortgage Association -- --
Phillips Bradford $149,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Star Alexander P $178,500
Previous Owner Phillips Bradford $69,000
Previous Owner Phillips Bradford $161,000
Previous Owner Phillips Bradford $119,600
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/11/2021 04/11/21 Off Market $210,000 -- --
04/08/2021 04/08/21 Sold $210,000 +0.5% $127 / Sq Ft
02/28/2021 02/28/21 Pending -- -- --
02/24/2021 02/24/21 For Sale $209,000 0.0% $126 / Sq Ft
01/25/2020 01/25/20 Rented $900 0.0% --
12/15/2019 12/15/19 Under Contract -- -- --
12/04/2019 12/04/19 For Rent $900 +2.9% --
12/30/2016 12/30/16 Rented $875 0.0% --
12/29/2016 12/29/16 Under Contract -- -- --
11/02/2016 11/02/16 For Rent $875 +2.9% --
05/26/2013 05/26/13 Rented $850 -2.9% --
05/26/2013 05/26/13 Under Contract -- -- --
03/08/2013 03/08/13 For Rent $875 -- --
Source: SmartMLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,701 $123,700 $30,000 $93,700
2024 $3,546 $123,700 $30,000 $93,700
2023 $3,367 $123,700 $30,000 $93,700
2022 $3,350 $123,700 $30,000 $93,700
2021 $3,842 $117,000 $33,500 $83,500
2020 $3,842 $117,000 $33,500 $83,500
2019 $3,842 $117,000 $33,500 $83,500
2018 $3,777 $117,000 $33,500 $83,500
2017 $3,787 $117,000 $33,500 $83,500
2016 $3,811 $123,300 $44,200 $79,100
2015 $3,793 $123,300 $44,200 $79,100
2014 $3,769 $123,300 $44,200 $79,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: SmartMLS

MLS Number: 170373651

SmartMLS

APN: COLC-000027-000000-000035