$650,000
SOLD JUL 2, 2024

50 Rappallo Ave Middletown, CT 06457

7 Beds
10 Baths
5,120 Sq Ft
5,227 Sq Ft Lot

Recently Sold

$127 Per Sq Ft

5 Days on Market

Highlights

  • Waterfront
  • Attic
  • Tankless Water Heater
  • Property is near public transit
  • Home Security System
  • Smart Appliances

About This Home

As of July 2024

Check out this 5-unit building in the popular downtown Middletown. This property consists of 4 residential apartments on the 2nd floor and 1 big commercial restaurant space on the 1st. All bathrooms were updated within the past year. Mostly new floors/paint/fixtures and upgrades throughout. Great turn-key investment. Owner is a licensed Realtor.

Last Agent to Sell the Property

Lucas Chaves

Coldwell Banker Calabro License #RES.0830521

Coldwell Banker Calabro

Last Buyer's Agent

Lani Liu-Helisch

Sovereign Properties License #REB.0788679

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,009

Year Built

  • Built in 1860

Lot Details

  • 5,227 Sq Ft Lot
  • Waterfront

Parking

  • 5 Parking Spaces

Property Views

  • Water
  • City

Home Design

  • Brick Exterior Construction
  • Stone Foundation
  • Asphalt Shingled Roof
  • Masonry Siding

Interior Spaces

  • 5,120 Sq Ft Home
  • Partially Finished Basement
  • Basement Fills Entire Space Under The House
  • Smart Appliances

Bedrooms and Bathrooms

  • 7 Bedrooms

Attic

  • Unfinished Attic
  • Attic or Crawl Hatchway Insulated

Home Security

  • Home Security System
  • Smart Lights or Controls
  • Smart Thermostat

Accessible Home Design

  • Modified Wall Outlets
  • Accessible Ramps

Eco-Friendly Details

  • Energy-Efficient Lighting

Location

  • Property is near public transit
  • Property is near shops

Schools

  • Middletown High School

Utilities

  • Hot Water Heating System
  • Gas Available at Street
  • Tankless Water Heater
  • Hot Water Circulator

Community Details

  • 5 Units
  • Gross Income $97,200

Listing and Financial Details

  • Assessor Parcel Number 1009412

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,009

Year Built

Built in 1860

Lot Details

0

Listing Details

  • Neighborhood: N/A
  • Property Type: Multi-Family For Sale
  • Style: Other
  • Sq Ft Est Heated Above Grade: 5120
  • Total Sq Ft: 5120
  • Year Built: 1860
  • New Construction: No/Resale
  • Nearby Amenities: Commuter Bus, Health Club, Lake, Library, Medical Facilities, Park, Private School(s), Shopping/Mall
  • Property Sub Type: 5 Family+
  • Handicap Features: Ramps
  • Direct Waterfront: No
  • Directions: Listing agent will do walk through, meet at front of building. Please call for any questions and schedule on showtime.
  • Financing Used: Cash
  • Living Area Sq Ft Per Public Record: 5120
  • Street Type: Avenue
  • Special Features: None

Interior Features

  • Total Bedrooms: 7
  • Total Bathrooms: 10
  • Full Bathrooms: 8
  • Half Bathrooms: 2
  • Attic Description: Unfinished, Access Via Hatch
  • Basement Description: Full, Partially Finished
  • Attic: Yes
  • Home Automation: Appliances, Electric Outlet(s), Lighting, Security System, Thermostat(s)
  • Street Number Modifier: 50

Exterior Features

  • Exterior Siding: Brick
  • Foundation Type: Stone
  • Roof Information: Asphalt Shingle
  • Waterfront Description: View
  • Swimming Pool: No
  • Construction Description: Brick

Garage/Parking

  • Total Parking Spaces: 5
  • Garage And Parking: None, Paved, Parking Lot, Off Street Parking

Utilities

  • Cooling System: None
  • Heat Type: Hot Water
  • Heat Fuel Type: Gas In Street
  • Hot Water Description: Natural Gas, Tankless Hotwater
  • Water Source: Public Water Connected, Public Water In Street
  • Sewer: Public Sewer Connected, Public Sewer In Street

Schools

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

Lot Info

  • Acres: 0.12
  • Lot Description: City Views
  • Flood Zone: No
  • Zoning: B-1
  • Parcel #: 1009412

Multi Family

  • Gross Annual Income: 97200
  • Net Operating Income: 74200
  • Total Number Of Units: 5

Tax Info

  • Tax Year: July 2024-June 2025
  • Property Tax: 11009
  • Total Assessed Value: 299160
  • Mil Rate Total: 36.8

MLS Schools

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

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 8, 2024
Closed on
Jun 28, 2024
Sold by
Rubicon Realty Llc
Bought by
Rapallo Llc
Seller's Agent
Lucas Chaves
Coldwell Banker Calabro
Buyer's Agent
Lani Liu-Helisch
Sovereign Properties
List Price
$649,999
Sold Price
$650,000
Premium/Discount to List
$1
0.0%
Total Days on Market
5
Views
17
Current Estimated Value
$621,781

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$28,219
Avg. Annual Appreciation
-0.67%

Purchase Details

Closed on
Aug 19, 2022
Sold by
Joseph Lucas
Bought by
Rubicon Realty Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$318,750
Interest Rate
5.81%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 4, 2022
Sold by
Mccalla Carlton
Bought by
Joseph Lucas

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$318,750
Interest Rate
5.81%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 20, 2012
Sold by
Leachman Gauntlet and Leachman Hyacinth I
Bought by
Mccallu Carlton

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$50,000
Interest Rate
3.61%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 16, 2001
Sold by
Suran Allen D
Bought by
Leachman Hyacinth I and Leachman Gauntlet

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$103,530
Interest Rate
7.01%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 26, 1998
Sold by
Labbadia Vincent P and Labbadia Kathleen N
Bought by
Suran Allan D

Map

Range of Values:

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Average Value
Not Available
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 Type Sale Price Title Company
Warranty Deed $650,000 None Available
Warranty Deed $650,000 None Available
Quit Claim Deed -- None Available
Quit Claim Deed -- None Available
Warranty Deed $425,000 None Available
Warranty Deed $425,000 None Available
Quit Claim Deed -- --
Quit Claim Deed -- --
Warranty Deed $125,000 --
Warranty Deed $125,000 --
Warranty Deed $85,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $318,750 Commercial
Previous Owner $50,000 Commercial
Previous Owner $155,000 Commercial
Previous Owner $103,530 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/02/2024 07/02/24 Sold $650,000 0.0% $127 / Sq Ft
06/13/2024 06/13/24 Pending -- -- --
06/08/2024 06/08/24 For Sale $649,999 -- $127 / Sq Ft
Source: SmartMLS

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
2024 $11,009 $299,160 $41,060 $258,100
2023 $10,501 $299,160 $41,060 $258,100
2022 $6,468 $147,000 $35,700 $111,300
2021 $7,981 $181,390 $35,700 $145,690
2020 $8,017 $181,390 $35,700 $145,690
2019 $8,054 $181,390 $35,700 $145,690
2018 $7,927 $181,390 $35,700 $145,690
2017 $7,035 $165,910 $35,700 $130,210
2016 $6,835 $165,910 $35,700 $130,210
2015 $6,570 $165,910 $35,700 $130,210
2014 $6,636 $165,910 $35,700 $130,210
Source: Public Records

Source: SmartMLS

MLS Number: 24023789

SmartMLS

APN: MTWN-000022-000000-000207