2 months on rocket

Backup Offers

7 Griswold Ave, Old Lyme, CT, 06371

$465,000

Home List Price

$5,522*

Closing Credit

5 Bedrooms
2 Full Baths
1,744 SqFt
$267/SqFt
Multi

Location

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7 Griswold Ave, Old Lyme$465,000

Buyer Closing Credits

$5,522*

1.25% Loan Amount

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Contact Us Phone Number1 (855) 200-2001

Property Highlights

Home TypeMulti Family
ParkingAttached Garage
Attached Garage1 space
Year Built1920
HeatingBaseboard
CoolingCeiling Fan(s)
BasementYes
MLS #24027842
Lot Size0.17 Acres
StatusAccepting Backup Offers
(Under Contract - Continue to Show)

About 7 Griswold Ave

Explore this exceptional investment opportunity in Old Lyme, CT, ideally positioned right off I-95 and close to the picturesque White Sand Beach Town Beach. This property features two separate units, making it a versatile choice for investors interested in both long-term rentals and short-term accommodations such as Airbnb, or for owner-occupants seeking a residence that can also generate income. The front unit offers a practical layout with three bedrooms and one bathroom, perfect for families or individuals looking for accessible, comfortable living. The second unit includes two bedrooms and one bathroom, complemented by an attached garage, adding convenience and value. This arrangement is ideal for owner-occupants looking to offset their mortgage payments and increase cash flow through rental income. Located near a popular local attraction, the property's proximity to the beach enhances its appeal for short-term vacation rentals while maintaining steady demand for long-term leases. This strategic location not only provides excellent rental income potential but also offers flexibility in rental strategy to adapt to various market needs and preferences. Whether you're looking to expand your rental portfolio, start in real estate investment, or find a home that helps pay for itself, this multi-unit property in Old Lyme represents a smart buy with significant income potential, ideal for diversifying your investment approach.

Property Details

Property Features

Property Information:

  • Architectural Style: Other
  • Year Built: 1920
  • Living Area: 1,744 SqFt

Listing Office:

  • Office Name: Real Broker CT, LLC
  • Office Phone: (855) 450-0442
  • Listing Agent: Kristopher Tramont

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Full Bathrooms: 2
  • Total Bedroom Count: 5

Exterior Features

Exterior Information:

  • Private Pool: No

Parking Information:

  • Garage Space: 1 space
  • Attached Garage: Yes
  • Parking: Attached Garage

Lot Features

Lot Information:

  • Lot: Level
  • Lot Size: 0.17 Acres

Utilities

Utilities Information:

  • Heating: Baseboard
  • Cooling: Ceiling Fan(s)

Other

Directions Information:

  • Directions: GPS

Price Information

Listing Price Info

Price Summary:

  • List Price: $465,000
  • Price Per SqFt: $267/SqFt

Tax Information:

  • Annual Amount: $4,394
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Old Lyme, CT.

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Old Lyme, CT

City

Med. Sold Price

$611K

Med. Price/SqFt

$326

# of Sold Homes

14

7 Griswold Ave vs Old Lyme

88 DAYS ON ROCKET

$465,000

-$146K Less

$267/SqFt

-$60 Less

KEY TAKEAWAY

This property is $146K less than the Median Sold Price and $60/SqFt less than other homes in Old Lyme, CT.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Number: #24027842

Listing Office:

  • Office Name: Real Broker CT, LLC
  • Office Phone: (855) 450-0442
  • Listing Agent: Kristopher Tramont

IDXCopyright © 2024 Smart MLS. The data relating to real estate for sale on this website appears in part through the SMARTMLS Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by SMARTMLS through a licensing agreement. Listing information is from various brokers who participate in the SMARTMLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 9/20/2024, 10:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Feb 01, 2002Home Sold
$160,000
Nov 16, 1989Home Sold
$31,000

Tax History

YEARPROP. TAXASSESSMENT
2021$4,394$188,600
2020$4,376$188,600
2019$4,146$185,000
2018$4,053$185,000
2017$4,024$185,000

History based on county public records data.

Payment Calculator

$2,388

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,461

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Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-161258
7
/10

  • Mile Creek School

  • 250 Mile Creek Rd

  • 3.45 miles

  • Public District Grades PK-3

school-card-donut-161259
6
/10

  • Kathleen E. Goodwin School

  • 80 Old Boston Post Rd

  • 4.53 miles

  • Public District Grades PK-3

school-card-donut-161260
8
/10

  • Lyme Consolidated School

  • Route 156

  • 5.55 miles

  • Public District Grades KG-5

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $94,149. The majority of Old Lyme, CT residents have income between $35k-100k annually. The majority of families are married, no kids. Typical level of education for residents in this area is post secondary degree.

All data provided by Home Junction and Claritas

Rocket Homes›Connecticut›New London County›Old Lyme›06371›7 Griswold Ave

This home is located at 7 Griswold Ave in Old Lyme, CT and zip code 06371. This 1,744 square foot home, which was built in 1920, sits on a 0.17 acre lot. Features: 5 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since June 24, 2024 and is currently priced at $465,000.

In August 2024, from all listings sold in Old Lyme, CT there were more than 7 sold above asking price, over 5 sold below and more than 2 were sold right at the asked price. Between July 2024 and August 2024, Old Lyme, CT real estate market has seen decrease in the number of listings by 5.7%.

From Rocket Homes Real Estate and based on county public records data.

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