287 Central Avenue
Norwich, Connecticut 06360
- Beds
- 6
- Baths
- 5
- SqFt
- 4,130
- Acres
- 0.08
- Year Built
- 1860
- Neighborhood
- Greenville
- Property Type
- 5+ 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
Mixed-use investment opportunity featuring three residential units and two commercial spaces totaling approximately 4,130 square feet. The residential mix includes two one-bedroom units and one two-bedroom unit. Two residential units and one commercial space are currently occupied, while the second commercial space and one residential unit is vacant, offering immediate lease-up and value-add potential. Our underwriting team projects stabilized annual income of $74,700, effective gross income of $73,365 and NOI of approximately $64,027-representing an estimated 13.48% pro forma cap rate at the $475,000 asking price. Built in 1860, the property includes off-street parking, public water and sewer, electric heat and hot water, city trash pickup and tenant-paid utilities. An attractive opportunity for an investor seeking diversified income, an established tenant base and additional upside. Financial information and projections are available for review.
Key Facts
- City/Town
- Norwich
- Neighborhood
- Greenville
- Property / Style
- Multi-Family · Units on different Floors,Units are Side-by-Side
- Year Built
- 1860
- Days on Market
- 0 days
- Beds
- 6
- Baths
- 5 full
- Living Area
- 4,130 sq ft
- Lot Size
- 0.08 acres
- Property Taxes
- $4,340 / Annually
Market Snapshot
The Norwich Market
Multi-Family · trailing 12 months
Active Listings
28
26 under contract
Median List Price
$424,500
28 active listings
Median Closed Price
$360,000
97 sales
Median Days on Market
13
28 active listings
Median $ / Sq Ft
$157
28 active listings
Sale-to-List Ratio
101.2%
97 sales
How this home compares
List Price
$475,000
vs $424,500 median
11.9% above median
Price / Sq Ft
$115
vs $157 median
26.8% below median
Days on Market
0 days
vs 13 days median
13 days fresher than median
Based on 28 active and 97 closed sales (trailing 12 mo) of multi-family in Norwich. Source: SmartMLS · As of September 17, 2026.
Location
287 Central Avenue, Norwich, Connecticut
Estimate Your Payment
Estimated Monthly Payment
Rates: Freddie Mac PMMS via FRED · Updated Sep 17, 2026per month
- Principal & Interest$2,515
- Property Taxes$362
- Insurance$158
- HOA$0
Estimates only. Actual rates, taxes, insurance, and HOA fees vary. Consult a lender for current rates.
Location
- City/Town
- Norwich
- Neighborhood
- Greenville
- County
- New London
Residence
- Property Type
- Multi-Family
- Subtype
- 5 Family+
- Style
- Units on different Floors,Units are Side-by-Side
- Year Built
- 1860
- New Construction
- No/Resale
- Living Area
- 4,130 sq ft
Schools
- Elementary
- Per Board of Ed
- High
- Norwich Free Academy
Interior
- Heating
- Hot Water
- Heat Fuel
- Electric
- Cooling
- Window Unit
- Basement
- Full
Exterior & Lot
- Lot Size
- 0.08 acres
- Zoning
- NC
- Waterfront Details
- Not Applicable
- Water Source
- Public Water Connected
- Sewer
- Public Sewer Connected
- Construction
- Brick
- Roof
- Gable
- Foundation
- Concrete
- Lot Description
- Corner Lot
Listing & Financials
- Property Taxes
- $4,340 / Annually
- Days on Market
- 0
- MLS #
- 24207988
- 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 9/17/2026. 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 9/17/2026 at 10:10 PM UTC.