7 Silver Falls Road
East Lyme, Connecticut 06333
Reduced from $825,000
- Beds
- 5
- Baths
- 4
- SqFt
- 3,386
- Acres
- 2.37
- Year Built
- 1900
- Property Type
- 2 Family
Matt Caiola
Luxury Real Estate Advisor
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About This Home
Rare income-producing multi-family opportunity or ideal multigenerational compound in East Lyme! Situated on a sprawling 2.37-acre retreat along scenic Latimer Brook, this unique property features two fully detached homes on one lot. A high-yielding, flexible setup that is virtually impossible to replicate today. Perfect for savvy investors, families seeking separate-but-close living, or owner-occupants looking to offset their mortgage, the estate includes a spacious 2,252 sq. ft. main house (4 BR, 3 BA, expanded in 2004) and a private, fully detached 1,134 sq. ft. ranch cottage (1 BR, 1 BA) completely renovated with an effective build year of 2018. Adding immense value is a massive, versatile outbuilding with a workshop and garage space, ideal for home businesses, hobbyists, or extra storage rental income. The park-like acreage offers ultimate privacy with established fruit trees and the soothing sounds of Silver Falls, all while remaining minutes from East Lyme's coastal amenities, major highways, and top-rated schools. Live in one and rent the other, house multiple generations with perfect privacy, or lease both for maximum cash flow. This unique multi-family asset delivers endless potential.
Key Facts
- City/Town
- East Lyme
- Neighborhood
- N/A
- Property / Style
- Multi-Family · Other
- Year Built
- 1900
- Days on Market
- 34 days
- Beds
- 5
- Baths
- 4 full
- Living Area
- 3,386 sq ft
- Lot Size
- 2.37 acres
- Garage / Parking
- 1 garage · 10 total
- Property Taxes
- $10,680 / Annually
Market Snapshot
The East Lyme Market
Multi-Family · trailing 12 months
Active Listings
1
East Lyme inventory
Median List Price
$799,500
1 active listing
Median Closed Price
$500,000
7 sales
Median Days on Market
34
1 active listing
Median $ / Sq Ft
$236
1 active listing
Sale-to-List Ratio
98.3%
7 sales
How this home compares
List Price
$799,500
vs $799,500 median
In line with median
Price / Sq Ft
$236
vs $236 median
In line with median
Days on Market
34 days
vs 34 days median
In line with median
Based on 1 active and 7 closed sales (trailing 12 mo) of multi-family in East Lyme. Source: SmartMLS · As of July 28, 2026.
Location
7 Silver Falls Road, East Lyme, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Jul 23, 2026per month
- Principal & Interest$4,076
- Property Taxes$890
- Insurance$267
- HOA$0
Estimates only. Actual rates, taxes, insurance, and HOA fees vary. Consult a lender for current rates.
Location
- City/Town
- East Lyme
- Neighborhood
- N/A
- County
- New London
Residence
- Property Type
- Multi-Family
- Subtype
- Duplex
- Style
- Other
- Year Built
- 1900
- New Construction
- No/Resale
- Living Area
- 3,386 sq ft
Schools
- Elementary
- Flanders
- High
- East Lyme
Interior
- Heating
- BaseboardHeat PumpWood/Coal Stove
- Heat Fuel
- ElectricOilWood
- Cooling
- DuctlessSplit SystemWall Unit
- Laundry
- All Units Have Hook-Ups
- Laundry Location
- Main house has 3 hookups. Cottage has 1
- Basement
- FullFull With Hatchway
Exterior & Lot
- Lot Size
- 2.37 acres
- Zoning
- R40
- Garage / Parking
- 1 garage space10 total parking spacesAttached GaragePavedDrivewayUnpavedPavedUnpavedAsphaltGravel
- Waterfront
- Direct waterfront
- Waterfront Details
- BrookAccess
- Water Source
- Private Well
- Sewer
- Septic
- Flood Zone
- No
- Construction
- ShakeCedar
- Color
- Cedar Shake
- Roof
- Asphalt Shingle
- Foundation
- ConcreteStone
- Exterior Features
- BarnGuttersGuest HouseHot TubStone WallPatio
- Lot Description
- Some WetlandsLevel Lot
Listing & Financials
- Property Taxes
- $10,680 / Annually
- Days on Market
- 34
- MLS #
- 24186470
- MLS Status
- Active
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This information is believed to be accurate, but without warranty.
The IDX display contains information sourced from SmartMLS, Inc. as of 7/28/2026. This information is provided for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or leasing. Data is deemed reliable but is not guaranteed accurate by the MLS, the listing broker, the listing agent, or Matt Caiola. Buyers and tenants should independently verify all information that matters to their decision.
Map locations may be approximate. Any offer of compensation, if applicable, is made only to participants of the MLS where the listing is filed. ©2026 Smart MLS, Inc. All rights reserved.
Data last updated on 7/28/2026 at 6:15 AM UTC.