40 Spring Garden Ave Unit 42 Norwich, CT 06360
Central Norwich NeighborhoodEstimated payment $2,919/month
Total Views
3,445
5
Beds
3
Baths
2,769
Sq Ft
$153
Price per Sq Ft
Highlights
- City View
- Heating System Uses Steam
- Coin Laundry
About This Home
Rare Norwich Investment Opportunity - Fully Rented 3-Family Cash Cow! Professional pictures coming soon! Welcome to 40-42 Spring Garden Ave, the only livable 3-family available in Norwich right now-a true income-producing gem. This property is fully rented and generating strong cash flow, making it an ideal turnkey investment for savvy buyers. Property Highlights: Fully rented - strong, steady income from Day 1 Well-maintained with a newer roof and updated mechanicals 2 units with oil heat (natural gas already in the building for future conversion) Coin-operated laundry in basement for extra income stream Two driveways - rare convenience for tenants and guests Close to casinos, highways (I-395/Route 32), shopping, and downtown Norwich With high rental demand and limited multi-family inventory in Norwich, this property is a prime opportunity for investors looking for solid returns and long-term growth. To see the full potential of this property, including the income/expense spreadsheet and additional financial details, reach out the listing agent today for access to the complete investor folder.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $7,301
Year Built
- Built in 1908
Lot Details
- 6,098 Sq Ft Lot
Parking
- 6 Parking Spaces
Home Design
- Stone Foundation
- Frame Construction
- Asphalt Shingled Roof
- Vinyl Siding
Interior Spaces
- 2,769 Sq Ft Home
- City Views
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Full Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
- Sump Pump
- Laundry in Basement
Schools
- Norwich Free Academy High School
Utilities
- Window Unit Cooling System
- Heating System Uses Steam
- Heating System Uses Oil
- Fuel Tank Located in Basement
Community Details
- 3 Units
- Coin Laundry
Listing and Financial Details
- Assessor Parcel Number 2031157
Map
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
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 | $7,301 | $180,400 | $31,400 | $149,000 |
| 2024 | $6,891 | $180,400 | $31,400 | $149,000 |
| 2023 | $4,723 | $97,100 | $21,400 | $75,700 |
| 2022 | $4,707 | $97,100 | $21,400 | $75,700 |
| 2021 | $4,723 | $97,100 | $21,400 | $75,700 |
| 2020 | $4,706 | $97,100 | $21,400 | $75,700 |
| 2019 | $4,655 | $97,000 | $21,400 | $75,600 |
| 2018 | $4,287 | $88,600 | $21,400 | $67,200 |
| 2017 | $4,318 | $88,600 | $21,400 | $67,200 |
| 2016 | $4,347 | $88,600 | $21,400 | $67,200 |
| 2015 | $4,258 | $88,600 | $21,400 | $67,200 |
| 2014 | $4,069 | $88,600 | $21,400 | $67,200 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/01/2025 09/01/25 | For Sale | $425,000 | -- | $153 / Sq Ft |
Source: SmartMLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- | |
| Quit Claim Deed | -- | -- | |
| Warranty Deed | $255,000 | -- | |
| Warranty Deed | $255,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $250,044 | VA | |
| Previous Owner | $257,500 | No Value Available | |
| Previous Owner | $260,482 | No Value Available | |
| Previous Owner | $96,000 | No Value Available |
Source: Public Records
Similar Homes in Norwich, CT
Source: SmartMLS
MLS Number: 24123152
APN: NORW-000117-000003-000066
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