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232 Franklin Street

Norwich, Connecticut 06360

ACTIVE - NEW$319,900
Beds
5
Baths
1 | 2
SqFt
2,606
Acres
0.11
Year Built
1900
Matt Caiola

Matt Caiola

Luxury Real Estate Advisor

MCMATT CAIOLALUXURY PROPERTIES
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3-Car Garage

About This Home

Versatile mixed-use opportunity with extensive recent upgrades. This property has undergone significant improvements, including brand new kitchens, updated bathrooms and showers, new flooring throughout each unit, and new appliances. Major mechanicals have been addressed with a brand new furnace backed by a 10-year warranty, along with a recently replaced gas meter and new gas line. Exterior updates include siding approximately 3 years old, recently paved driveway (2 years), and new roofing on the garage, shed, and rear portion of the home. Additional features include durable metal garage doors, a detached 3-car garage, and a private backyard offering functional outdoor space. The front portion of the commercial space was updated within the past year, enhancing usability for business or mixed-use potential. Property is zoned General Commercial with potential for mixed-use conversion (buyer to perform due diligence), and will be delivered compliant with a first-floor commercial unit and second-floor residential unit. Ideal for investors or owner-occupants seeking flexibility, modernization, and long-term upside in a walkable location.

Key Facts

City/Town
Norwich
Neighborhood
N/A
Property / Style
Multi-Family · Units on different Floors
Year Built
1900
Days on Market
0 days
Beds
5
Baths
1 full · 2 half
Living Area
2,606 sq ft
Lot Size
0.11 acres
Garage / Parking
3 garage · 6 total
Property Taxes
$5,474 / Annually

Market Snapshot

The Norwich Market

Multi-Family · trailing 12 months

Median Days on Market

23

22 active listings

Median $ / Sq Ft

$148

22 active listings

Sale-to-List Ratio

101.0%

96 sales

How this home compares

List Price

$319,900

vs $360,000 median

11.1% below median

Price / Sq Ft

$123

vs $148 median

16.9% below median

Days on Market

0 days

vs 23 days median

23 days fresher than median

Based on 22 active and 96 closed sales (trailing 12 mo) of multi-family in Norwich. Source: SmartMLS · As of September 12, 2026.

Location

232 Franklin Street, Norwich, Connecticut

Property + 12 nearby

Estimate Your Payment

Estimated Monthly Payment

Rates: Freddie Mac PMMS via FRED
$2,225

per month

  • Principal & Interest$1,662
  • Property Taxes$456
  • Insurance$107
  • HOA$0

Estimates only. Actual rates, taxes, insurance, and HOA fees vary. Consult a lender for current rates.

Location

City/Town
Norwich
Neighborhood
N/A
County
New London

Residence

Property Type
Multi-Family
Subtype
Other
Style
Units on different Floors
Year Built
1900
New Construction
No/Resale
Living Area
2,606 sq ft

Schools

Elementary
Per Board of Ed
High
Per Board of Ed

Interior

Heating
Hot Water
Heat Fuel
Natural Gas
Cooling
None
Basement
Full

Exterior & Lot

Lot Size
0.11 acres
Zoning
CC
Garage / Parking
3 garage spaces6 total parking spacesDetached GarageOff Street Parking
Waterfront Details
Not Applicable
Water Source
Public Water Connected
Sewer
Public Sewer Connected
Flood Zone
No
Construction
Vinyl Siding
Roof
Shingle
Foundation
ConcreteStone
Lot Description
N/A

Listing & Financials

Property Taxes
$5,474 / Annually
Days on Market
0
MLS #
24206430
MLS Status
Active

Similar Properties

Homes with a close match in area, property type, and price.

Listed By

Scott Aceto

(203) 300-8589

Smith & Oak Real Estate Company

(401) 400-4114

This information is believed to be accurate, but without warranty.

The IDX display contains information sourced from SmartMLS, Inc. as of 9/12/2026. 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 9/12/2026 at 2:15 AM UTC.