7 Franklin St New London, CT 06320
Coit NeighborhoodEstimated Value: $404,000 - $444,000
4
Beds
3
Baths
2,253
Sq Ft
$188/Sq Ft
Est. Value
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 2024Charming 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.
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
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%
Total Days on Market
3
Views
12
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$1,542
Avg. Annual Appreciation
-1.08%
Original Mortgage
$318,750
Outstanding Balance
$317,928
Interest Rate
6.79%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$105,280
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%
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Similar Homes in New London, CT
Home Values in the Area
Average Home Value in this Area
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 | Corcoran Timothy R | $22,000 | |
| Previous Owner | Corcoran Timothy R | $199,920 | |
| Previous Owner | Corcoran Timothy R | $49,980 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 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
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 | $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
68 Total Sales
-
Artie Owens
A
Buyer's Agent in 2024
Artie Owens
eXp Realty
(860) 869-2367
1 in this area
70 Total Sales
Map
Source: SmartMLS
MLS Number: 24059680
APN: NLON-000029-000172-000021
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