837 Bank Street
New London, Connecticut 06320
- Beds
- 5
- Baths
- 4
- SqFt
- 2,478
- Acres
- 0.11
- Year Built
- 1893
- Property Type
- 4 Family
Matt Caiola
Luxury Real Estate Advisor
Request a private showing and get Matt's read on price, condition, and next steps.
About This Home
Investors, take notice. 837 Bank Street in New London offers the potential for an estimated 12-15% cap rate based on prior rental income, making it a property well worth considering for your next buy-and-hold investment. Three of the four units are renovated one-bedroom, one-bath apartments, while the standout fourth unit is a spacious townhouse-style residence featuring four bedrooms with additional living space in the finished attic. Each unit is separately metered, and one of the biggest advantages is the property's relatively low taxes for the area, helping maximize rental income and strengthen the overall return on investment. Conveniently located on Bank Street between New London and Waterford and along the bus line, this multifamily offers a desirable unit mix, strong income potential, and an excellent opportunity to add a quality asset to your portfolio. Come take a look and see why this property deserves your attention.
Key Facts
- City/Town
- New London
- Neighborhood
- N/A
- Property / Style
- Multi-Family · 4updown - Unit(s) per Floor
- Year Built
- 1893
- Days on Market
- 15 days
- Beds
- 5
- Baths
- 4 full
- Living Area
- 2,478 sq ft
- Lot Size
- 0.11 acres
- Property Taxes
- $3,800 / Annually
Market Snapshot
The New London Market
Multi-Family · trailing 12 months
Active Listings
8
10 under contract
Median List Price
$972,500
8 active listings
Median Closed Price
$382,500
52 sales
Median Days on Market
100
8 active listings
Median $ / Sq Ft
$193
8 active listings
Sale-to-List Ratio
100.0%
52 sales
How this home compares
List Price
$525,000
vs $972,500 median
46.0% below median
Price / Sq Ft
$212
vs $193 median
9.8% above median
Days on Market
15 days
vs 100 days median
85 days fresher than median
Based on 8 active and 52 closed sales (trailing 12 mo) of multi-family in New London. Source: SmartMLS · As of July 28, 2026.
Location
837 Bank Street, New London, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Jul 23, 2026per month
- Principal & Interest$2,677
- Property Taxes$317
- Insurance$175
- HOA$0
Estimates only. Actual rates, taxes, insurance, and HOA fees vary. Consult a lender for current rates.
Location
- City/Town
- New London
- Neighborhood
- N/A
- County
- New London
Residence
- Property Type
- Multi-Family
- Subtype
- Quadruplex
- Style
- 4updown - Unit(s) per Floor
- Year Built
- 1893
- New Construction
- No/Resale
- Living Area
- 2,478 sq ft
Schools
- Elementary
- Per Board of Ed
- High
- Per Board of Ed
Interior
- Heating
- Hot Air
- Heat Fuel
- Electric
- Cooling
- Window Unit
- Basement
- Full
Exterior & Lot
- Lot Size
- 0.11 acres
- Zoning
- C-1
- Waterfront Details
- Not Applicable
- Water Source
- Public Water Connected
- Sewer
- Public Sewer Connected
- Construction
- Aluminum
- Roof
- Asphalt Shingle
- Foundation
- Stone
- Lot Description
- City Views
Listing & Financials
- Property Taxes
- $3,800 / Annually
- Days on Market
- 15
- MLS #
- 24191023
- MLS Status
- Active
Similar Properties
Homes with a close match in area, property type, and price.
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 4:25 AM UTC.