NOT LISTED FOR SALE

7 Franklin St New London, CT 06320

Coit Neighborhood

Estimated Value: $363,000 - $472,000

4 Beds
3 Baths
2,253 Sq Ft
$194/Sq Ft Est. Value

Last Sold December 19, 2024

Last sale price $425,000 $189 Per Sq Ft

Est. 3% increase in value since last sale

Current estimated payment $2,690/month

3 Days on Market

Highlights

  • Property is near public transit
  • Porch
  • Baseboard Heating
  • Attic
  • Public Transportation
  • 3-minute walk to Riverside Park Conservancy

About This Home

As of December 2024

Charming Historic 3-Family Multi-Unit Property with Great Income Potential! Welcome to 7 Franklin St, a beautifully maintained and tastefully updated historic building located in a prime area just minutes from downtown, The Garde Arts Center, Electric Boat, Connecticut College, and the Sub Base. This multi-family property boasts three well-appointed units, offering fantastic flexibility for investors and owner-occupants alike. Two units currently have reliable, long-term tenants, while the third is preparing for it's new short term tenant. Each unit has been thoughtfully renovated, blending modern conveniences with classic charm. With close proximity to local amenities and the potential for significant rental income, 7 Franklin St is a rare opportunity in a sought-after location. Don't miss out on the chance to own this exceptional income-generating property.

Last Agent to Sell the Property

Denise Moore

Kazantzis Real Estate, LLC License #RES.0815204 Listed on: 11/14/2024

Last Buyer's Agent

Artie Owens

eXp Realty License #RES.0814885

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,457

Year Built

  • Built in 1887

Lot Details

  • 1,742 Sq Ft Lot
  • Level Lot

Home Design

  • Concrete Foundation
  • Frame Construction
  • Asphalt Shingled Roof
  • Clap Board Siding

Interior Spaces

  • 2,253 Sq Ft Home
  • Attic or Crawl Hatchway Insulated

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms

Partially Finished Basement

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

Schools

  • New London High School

Additional Features

  • Porch
  • Property is near public transit
  • Baseboard Heating

Community Details

  • 3 Units
  • Public Transportation

Listing and Financial Details

  • Assessor Parcel Number 2000302

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,457

Year Built

Built in 1887

Lot Details

0

Listing Details

  • Neighborhood: N/A
  • Property Type: Multi-Family For Sale
  • Style: 3updown - Unit(s) per Floor
  • Sq Ft Est Heated Above Grade: 2253
  • Total Sq Ft: 2253
  • Year Built: 1887
  • New Construction: No/Resale
  • Nearby Amenities: Medical Facilities, Park, Public Transportation
  • Remarks Public Addendum: The property also features a partially finished basement, offering the possibility of additional living space, pending town approval. Property being sold "as is".
  • Property Sub Type: 3 Family
  • Direct Waterfront: No
  • Home Warranty Offered: No
  • Directions: GPS Friendly
  • Financing Used: Conventional Fixed
  • Living Area Sq Ft Per Public Record: 2253
  • Street Type: Street
  • Special Features: None

Interior Features

  • Total Bedrooms: 4
  • Total Bathrooms: 3
  • Full Bathrooms: 3
  • Attic Description: Crawl Space, Access Via Hatch
  • Basement Description: Full, Partially Finished, Full With Walk-Out
  • Laundry Room Info: None
  • Attic: Yes
  • Street Number Modifier: 7

Exterior Features

  • Exterior Features: Porch
  • Exterior Siding: Clapboard
  • Foundation Type: Concrete
  • Roof Information: Asphalt Shingle Gable
  • Waterfront Description: Not Applicable
  • Swimming Pool: No
  • Construction Description: Frame

Garage/Parking

  • Garage And Parking: None

Utilities

  • Cooling System: None
  • Heat Type: Baseboard
  • Heat Fuel Type: Electric
  • Hot Water Description: Domestic
  • Water Source: Public Water Connected
  • Sewer: Public Sewer Connected

Schools

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

Lot Info

  • Acres: 0.04
  • Lot Description: Level Lot
  • Zoning: C-1
  • Parcel #: 2000302

Multi Family

  • Total Number Of Units: 3

Tax Info

  • Tax Year: July 2024-June 2025
  • Property Tax: 4457
  • Total Assessed Value: 156400
  • Mil Rate Total: 27.5

MLS Schools

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

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 14, 2024
Closed on
Dec 19, 2024
Sold by
Thomas Donna
Bought by
Smith Aaron D
Seller's Agent
Denise Moore
Kazantzis Real Estate, LLC
Buyer's Agent
Artie Owens
eXp Realty
List Price
$429,900
Sold Price
$425,000
Premium/Discount to List
-$4,900
-1.14%
Views
12
Current Estimated Value
$436,306

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$11,306
Avg. Annual Appreciation
3.38%
Original Mortgage
$318,750
Outstanding Balance
$316,243
Interest Rate
6.79%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$120,063

Purchase Details

Closed on
Mar 7, 2005
Sold by
Corcoran Timothy
Bought by
Thomas Donna

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$199,920
Interest Rate
5.66%
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
Smith Aaron D $425,000 None Available
Smith Aaron D $425,000 None Available
Smith Aaron D $425,000 None Available
Thomas Donna $499,500 --
Thomas Donna $499,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smith Aaron D $318,750
Closed Smith Aaron D $318,750
Previous Owner Thomas Donna $22,000
Previous Owner Thomas Donna $199,920
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/19/2024 12/19/24 Sold $425,000 -1.1% $189 / Sq Ft
11/20/2024 11/20/24 Pending -- -- --
11/16/2024 11/16/24 For Sale $429,900 -- $191 / Sq Ft
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 $4,409 $156,400 $26,100 $130,300
2024 $4,457 $156,400 $26,100 $130,300
2023 $3,201 $83,300 $8,890 $74,410
2022 $3,204 $83,300 $8,890 $74,410
2021 $3,261 $83,300 $8,890 $74,410
2020 $3,281 $83,300 $8,890 $74,410
2019 $3,424 $83,300 $8,890 $74,410
2018 $2,680 $59,360 $11,270 $48,090
2017 $2,627 $59,360 $11,270 $48,090
2016 $2,483 $59,360 $11,270 $48,090
2015 $2,344 $59,360 $11,270 $48,090
2014 $2,034 $59,360 $11,270 $48,090
Source: Public Records

Agents Affiliated with this Home

  • Denise Moore

    Seller's Agent in 2024

    Denise Moore

    Kazantzis Real Estate, LLC

    (860) 917-0203

    1 in this area

    71 Total Sales

    Denise Moore
    Section Image

  • A

    Buyer's Agent in 2024

    Artie Owens

    eXp Realty

    (860) 869-2367

    1 in this area

    70 Total Sales

    Artie Owens
    Section Image
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Map

Source: SmartMLS

MLS Number: 24059680

SmartMLS

APN: NLON-000029-000172-000021

Connecticut New London County New London 06320 Coit

7 Franklin St, New London, CT

This home is located at 7 Franklin St, New London, CT 06320 since 14 November 2024 and is currently estimated at $436,306, approximately $193 per square foot. This property was built in 1887. 7 Franklin St is a home located in New London County with nearby schools including Harbor Elementary School, Bennie Dover Jackson Middle School, and New London High School.

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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