837 Bank Street
New London, Connecticut 06320
Reduced from $525,000
- Beds
- 5
- Baths
- 4
- SqFt
- 2,478
- Acres
- 0.11
- Year Built
- 1893
- Property Type
- 4 Family
Matt Caiola
Luxury Real Estate Advisor
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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
- 63 days
- Beds
- 5
- Baths
- 4 full
- Living Area
- 2,478 sq ft
- Lot Size
- 0.11 acres
- Property Taxes
- $3,786 / Annually
Market Snapshot
The New London Market
Multi-Family · trailing 12 months
Active Listings
13
11 under contract
Median List Price
$525,000
13 active listings
Median Closed Price
$366,250
46 sales
Median Days on Market
26
13 active listings
Median $ / Sq Ft
$195
13 active listings
Sale-to-List Ratio
101.2%
46 sales
How this home compares
List Price
$499,900
vs $525,000 median
In line with median
Price / Sq Ft
$202
vs $195 median
In line with median
Days on Market
63 days
vs 26 days median
37 days longer than median
Based on 13 active and 46 closed sales (trailing 12 mo) of multi-family in New London. Source: SmartMLS · As of September 14, 2026.
Location
837 Bank Street, New London, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Sep 10, 2026per month
- Principal & Interest$2,597
- Property Taxes$316
- Insurance$167
- 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
- $3,786 / Annually
- Days on Market
- 63
- MLS #
- 24191023
- MLS Status
- Under Contract - Continue to Show
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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 9/14/2026. 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 9/14/2026 at 10:50 PM UTC.