NOT LISTED FOR SALE

262 Route 163 Montville, CT 06353

Oxoboxo River Neighborhood

Estimated Value: $278,360

6 Beds
4 Baths
3,376 Sq Ft
$82/Sq Ft Est. Value

Last Sold June 07, 2021

Last sale price $250,000 $74 Per Sq Ft

Est. 11% increase in value since last sale

Current estimated payment $1,802/month

11 Days on Market

Highlights

  • Waterfront
  • Partially Wooded Lot
  • No HOA
  • 1.74 Acre Lot
  • Attic
  • 1 Car Detached Garage

About This Home

As of June 2021

Unique opportunity to own a multi-use property and enjoy waterfront views or fishing! The property consists of 4 income streams - a 2-family unit, a separate commercial building currently used as a restaurant (business not for sale, building only) with paved parking and indoor and outdoor seating near the water, and a rental parking lot rented to the trucking repair garage next door. Because the trucking repair garage and the rented parking lot is separated by a bunch of trees and a stream, from the remaining property the parking lot does not appear to be a part of it, but it is. Nearly worry free investment with tenants paying all their own utilities, caring for the lawn and snow, and the restaurant and parking lot paying their rent with little for the landlord to do! Public water & sewer hooked up, electric heat in the 2-family and propane heat in the restaurant. Many upgrades have been done to make this a great cash-flow investment with $42,000 a year income! Property will qualify for a mixed use residential loan for an owner-occupant buyer or commercial loan will be needed for non-owner occupant investors. Great cash flow with little effort! Highest and best offers due by Monday 3/15/2021 by 9pm.

Last Agent to Sell the Property

Jan Ledoux

Coldwell Banker Realty License #RES.0771099 Listed on: 03/05/2021

Coldwell Banker Realty

Co-Listed By

John Pizzi

Compass Connecticut, LLC License #RES.0763868

Compass Connecticut, LLC

Last Buyer's Agent

John Pizzi

Compass Connecticut, LLC License #RES.0763868

Compass Connecticut, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,065

Year Built

  • Built in 1945

Lot Details

  • 1.74 Acre Lot
  • Waterfront
  • Level Lot
  • Partially Wooded Lot

Home Design

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

Interior Spaces

  • 3,376 Sq Ft Home
  • Thermal Windows
  • Water Views
  • Walkup Attic

Bedrooms and Bathrooms

  • 6 Bedrooms

Basement

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

Parking

  • 1 Car Detached Garage
  • Gravel Driveway

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Space Heater
  • Baseboard Heating
  • Heating System Uses Oil Above Ground
  • Heating System Uses Propane
  • Electric Water Heater

Additional Features

  • Energy-Efficient Insulation
  • Patio

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Gross Income $42,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,065

Year Built

Built in 1945

Lot Details

0

Listing Details

  • Neighborhood: Uncasville
  • Property Type: Multi-Family For Sale
  • Sq Ft Est Heated Above Grade: 3376
  • Total Sq Ft: 3376
  • Year Built: 1945
  • Property Sub Type: 4 Family
  • Direct Waterfront: Yes
  • Radon Mitigation Air Ynu: No
  • Radon Mitigation Water Ynu: No
  • Directions: I-395 to Exit 6, Route 163, head north about 1/2 mile on the right just passed Courville's Garage. Rt 163 is also called Oakdale Rd.
  • Special Features: None

Interior Features

  • Total Bedrooms: 6
  • Total Bathrooms: 4.00
  • Full Bathrooms: 2
  • Half Bathrooms: 2
  • Attic Description: Walk-up
  • Basement Description: Full With Walk-Out
  • Laundry Room Info: Hook-Up In Unit 1, Hook-Up In Unit 2
  • Attic: Yes
  • Street Number Modifier: 262

Exterior Features

  • Exterior Features: Patio
  • Exterior Siding: Vinyl Siding, Stone
  • Foundation Type: Stone
  • Roof Information: Asphalt Shingle
  • Waterfront Description: Direct Waterfront
  • Swimming Pool: No
  • Construction Description: Frame, Stone

Garage/Parking

  • Garage Parking Info: Detached Garage
  • Garages Number: 1
  • Driveway Type: Paved, Gravel

Utilities

  • Cooling System: Wall Unit
  • Heat Type: Baseboard, Space Heater
  • Heat Fuel Type: Electric, Propane
  • Fuel Tank Location: Above Ground
  • Hot Water Description: Electric
  • Water Source: Public Water Connected
  • Sewer: Public Sewer Connected

Condo/Co-op/Association

  • HOA: No

Schools

  • Elementary School: Per Board of Ed
  • High School: Per Board of Ed

Green Features

  • Energy Features: Extra Insulation, Thermopane Windows

Lot Info

  • Acres: 1.7400
  • Lot Description: Water View, Level Lot, Lightly Wooded
  • Elevation Certificate: No
  • Flood Zone: No
  • Zoning: LI

Multi Family

  • Gross Annual Income: 42000
  • Net Operating Income: 34670
  • Unit Count: 4
  • Total Multi Family: 11
  • Total Num Of Units: 4

Tax Info

  • Tax Year: July 2020-June 2021
  • Property Tax: 6065
  • Total Assessed Value: 187310
  • Mil Rate Base: 32.380
  • Mil Rate Total: 32.380
  • Assessor Parcel Number: 2434433

MLS Schools

  • Elementary School: Per Board of Ed
  • High School: Per Board of Ed

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 5, 2021
Closed on
Jun 1, 2021
Sold by
Jones Robert P and Jones Faith A
Bought by
262 Route 163 Llc
Seller's Agent
Jan Ledoux
Coldwell Banker Realty
Buyer's Agent
John Pizzi
Compass Connecticut, LLC
List Price
$249,900
Sold Price
$250,000
Premium/Discount to List
$100
0.04%
Current Estimated Value
$278,360

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$28,360
Avg. Annual Appreciation
6.70%

Purchase Details

Closed on
Jun 24, 2008
Sold by
Hewitt Dorene A and Rioux Normand M
Bought by
Jones Robert P and Heckathorn Faith A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$232,000
Interest Rate
6.1%
Mortgage Type
Commercial
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
262 Route 163 Llc $250,000 None Available
Jones Robert P $290,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Jones Robert P $232,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/07/2021 06/07/21 Sold $250,000 0.0% $74 / Sq Ft
03/16/2021 03/16/21 Pending -- -- --
03/05/2021 03/05/21 For Sale $249,900 0.0% $74 / Sq Ft
05/24/2020 05/24/20 Rented $1,100 0.0% --
05/21/2020 05/21/20 Under Contract -- -- --
04/25/2020 04/25/20 For Rent $1,100 0.0% --
04/17/2020 04/17/20 Under Contract -- -- --
02/08/2020 02/08/20 For Rent $1,100 -89.8% --
02/07/2018 02/07/18 Rented $10,800 +1100.0% --
01/12/2018 01/12/18 For Rent $900 -10.0% --
07/01/2016 07/01/16 Rented $1,000 0.0% --
06/30/2016 06/30/16 Under Contract -- -- --
01/07/2016 01/07/16 For Rent $1,000 0.0% --
06/08/2015 06/08/15 Rented $1,000 0.0% --
06/05/2015 06/05/15 Under Contract -- -- --
12/03/2014 12/03/14 For Rent $1,000 -- --
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
2022 $4,743 $177,590 $50,050 $127,540
2021 $5,947 $187,310 $53,440 $133,870
Source: Public Records

Agents Affiliated with this Home

  • Jan Ledoux

    Seller's Agent in 2021

    Jan Ledoux

    Coldwell Banker Realty

    (860) 377-8700

    1 in this area

    116 Total Sales

    Section Image

  • J

    Seller Co-Listing Agent in 2021

    John Pizzi

    Compass Connecticut, LLC

    Section Image

  • J

    Buyer's Agent in 2018

    Jennifer Shepard

    Signature Properties of NewEng

    Section Image
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Map

Source: SmartMLS

MLS Number: 170377723

SmartMLS

APN: MONT M:078 B:019 L:000

Connecticut New London County Montville 06353 Oxoboxo River

262 Route 163, Montville, CT

This home is located at 262 Route 163, Montville, CT 06353 since 05 March 2021 and is currently priced at $278,360, approximately $82 per square foot. This property was built in 1945. 262 Route 163 is a home located in New London County with nearby schools including Leonard J. Tyl Middle School, Montville High School, and Bradley School-New London Regional.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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