39 Fairmount
Norwich, CT 06360
- 6 beds
- 4 baths
- 3,854 sqft
- 8,712 sqft lot
- $136 per sqft
- 1886 build
- – on site
The VC Property Group is proud to present this High Yield Investment Opportunity consisting of 2 properties in Norwich, Ct. The portfolio is comprised of 9 units, 6 two bedrooms, 2 one bedrooms, and a studio. The offering is made up of a 4-family and 5 unit property. All utilities are separate and tenant paid, with a mix of on and off street parking. This is a value add opportunity with an estimated $1,000,000 ARV, yielding a 30% ROI once fully stabilized. Based on an assumed repair budget of $225k, properties will yield an estimated $175k net profit at full ask in a flip scenario assuming a 6 month hold, or an 85% Effective LTV in a buy and hold scenario. VC Property Group's capital markets team is able to broker bridge/rehab financing up to 90% LTV + 100% Rehab for qualified, experienced investors. Disclaimer: All financials and estimates detailed above have been derived by VC Property Group using industry standard underwriting and property valuation practices, but all buyers must conduct their own due diligence and independently verify all financial details themselves prior to purchase. Viewing this Saturday, Feb 1, from 1 to 2pm. We will begin tour at 39 Fairmount St, Norwich, Ct
Last checked:
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Last updated Jan 30, 2025
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MLS# 24071635 —
The Building
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Year Built:1886
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Year Built Source:Public Records
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New Construction Type:No/Resale
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Style:Units on different Floors
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Roof Information:Asphalt Shingle
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Attic:No
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Exterior Siding:Vinyl Siding
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Foundation Type:Masonry
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Basement Description:Full
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SqFt Total:3854
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SqFt Est Heated Above Grade:3854
Room Dimensions
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Living Area SqFt Per Public Record:3854
Location
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Directions:Call Agent
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Neighborhood:N/A
The Property
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Parcel Number:2021067
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Property Type:Multi-Family For Sale
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Property Subtype:4 Family
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Zoning:MF
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Acres:0.2
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Acres Source:Public Records
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Lot Description:Level Lot
Listing Agent
- Contact info:
- Agent phone:
- (860) 519-3800
Taxes
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Tax Year:July 2024-June 2025
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Property Taxes:5730
Beds
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Beds Total:6
Baths
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Total Baths:4
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Full Baths:4
Heating & Cooling
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Heat Type:Baseboard
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Heat Fuel Type:Electric
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Cooling System:None
Utilities
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Water Source:Public Water Connected
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Sewage System:Public Sewer Connected
Schools
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Elementary School:Per Board of Ed
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High School:Per Board of Ed
The Community
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Swimming Pool:No
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Direct Waterfront:No
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Waterfront Description:Not Applicable
Parking
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Garage & Parking:None
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/30/25
Jan 30, 2025
|
Listed / Active | SMART_MLS | $525,000 |
