SoldDec 31, 2025

Listed by Gregory Hanner from Garden Realty

Bought with Miguel Afanador from Mikasa Realty Group, Inc.

Source: SmartMLS Connecticut #24128739

29 Sheas Ln, Norwich, CT, 06380

$430,000

6
3
15
3327 sq. ft.
1.19 ac.

Duplex

•

30+ days on the market

Sold: Dec 31, 2025

What's around 29 Sheas Ln

About this property

Opportunity knocks! This fully occupied 3-family home on 1.19 acres features a rural feel, thanks to its expansive front yard and buildings set back from the road. Despite its rural ambiance, it offers urban conveniences and presents strong income potential. The 3D tour shows the exterior of the property. Each apartment includes 2 Bedrooms, in-unit laundry hookups, and separate utilities. Two units are located on the ground floor, and all tenants are long-term, with month-to-month agreements. The 2nd-floor tenant is actively planning to purchase, creating the possibility for an owner-occupant Buyer to step in. A detached 4-Car Garage plus a 2-Car Carport adds rental income, and there is abundant off-street parking. Recent updates include a brand-new main house roof and a 5-year-old garage roof. Landlord covers water, sewer, snow removal, and yard maintenance. The current gross monthly income is $3,740, with market rents projected to be higher. The current Cap rate is 5.6%, and it could be increased to 10.0% with modest rental rate increases. A full pro forma is available. This property delivers both stability and growth potential for Investors or flexibility for an Owner-Occupant. Conveniently located in Taftville near Norwich amenities and highways, this opportunity is a rare find. This opportunity is available to Cash Buyers or those using conventional mortgages, as the building won't qualify for FHA or VA financing due to peeling paint.

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Seller's review

5 months ago

My Investment Property Got Liquidated Quickly and At The Right Price!

Greg quickly sold my 3-family investment property in Norwich, CT, at the right price. I was totally pleased with his presentation and marketing of our listing. His guidance through every step of the process was priceless and beyond professional. We look forward to working with him again when it comes time to sell our primary home or either of the two condos remaining in my small portfolio.

R
Raymond Mastronunzio
Seller

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