232 Franklin Street
Norwich, Connecticut 06360
- Beds
- 5
- Baths
- 1 | 2
- SqFt
- 2,606
- Acres
- 0.11
- Year Built
- 1900
- Property Type
- Multi-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
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
Active Listings
22
28 under contract
Median List Price
$360,000
22 active listings
Median Closed Price
$352,500
96 sales
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
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Sep 10, 2026per 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
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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 9/12/2026. 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.