7 Griswold Avenue

Old Lyme, CT 06371

$465,000
Price
5
Beds
2
Baths
1,744 Sq. Ft.
$267 / Sq. Ft.
1,744
Sq. Ft.
$267
per Sq. Ft.

Description

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...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.
  1. Listed by Kristopher J Tramont • Real Broker CT, LLC
    P: (860) 884-9511 C: (860) 884-9511 Tramont.realtor@protonmail.com
  2. Listed by Kristopher J Tramont • Real Broker CT, LLC
    P: (855) 450-0442 C: (860) 884-9511 Tramont.realtor@protonmail.com

Property Details for 7 Griswold Avenue

Basement Description
Full, Unfinished
Direct Waterfront
No
Expected Active Date
06-28-2024
Garages Number
1
Neighborhood
N/A
Style
Other
Garage Parking Info
Attached Garage
Swimming Pool
No
LISTING UPDATED: 08/16/2024 09:49 AM

Property Details for 7 Griswold Avenue

StatusUnder Contract - Continue To Show
MLS #24027842
Days on Market52
Taxes$4,602 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / 2 Family
Year Built1920
Lot Size0.17 AC / 7,405 SF
CountyNew London County

Building Information for 7 Griswold Avenue

Stories-Residences2Year Built1920Building Size-Lot Size0.17 AC / 7,405 SF

Property Information for 7 Griswold Avenue

Summary
Property and Location
  • Acres Source: Public Records
  • Directions: GPS
  • Elementary School: Per Board of Ed
  • High School: Per Board of Ed
  • Latitude: 41.333552
  • Longitude: -72.321763
  • State: Connecticut
HOA and Fees
  • Home Owner's Assocation: No
  • Tax Year: July 2024-June 2025
  • Property Tax: $4,602
Interior and Exterior Features
Exterior Features
  • Waterfront Description: Not Applicable
Interior Features
  • Attic Description: Access Via Hatch
  • Cooling System: Ceiling Fans
  • Heat Type: Baseboard
  • Attic YN: Yes
  • Fireplaces Total: 0
  • Laundry Room Info: Hook-Up In Unit 1, Hook-Up In Unit 2
  • Rooms Total: 8
Property
Property and Assessments
  • Color: White
  • Construction Description: Frame
  • Exterior Siding: Vinyl Siding
  • Foundation Type: Concrete, Stone
  • Fuel Tank Location: Above Ground
  • New Construction Type: No/Resale
  • Roof: Asphalt Shingle
  • Year Built: 1920
  • Year Built Source: Public Records
  • Bank Owned Property: No
  • Sq Ft Description: Main House - 1024, Rear House - 720
Lot Information
  • Lot Description: Level Lot
  • Parcel Number: 1552122
  • Sq Ft Est Heated Above Grade: 1744.0
  • Sq Ft Total: 1744.0
  • Zoning: R15
Utilities
  • Heat Fuel Type: Electric, Propane
  • Hot Water Description: Electric, Tank Size Unknown
  • Sewage System: Septic
  • Water Source: Private Well
Multi Family
Income and Expenses
  • Occupied By: Tenant
  • Total Number of Units: 2
  • Total Rooms Multi Family: 8
Unit 1
  • Lease: Monthly
  • Listing Key: 1BA5B33DB4B12A16E063D501100A51B5
  • Unit Entry Order: 1
  • Unit Full Baths: 1
  • Unit Modified Date: 08-16-2024
  • Unit Monthly Rent: $1,300
  • Unit Num Bedrms: 3
  • Unit Num Rooms: 5
Unit 2
  • Lease: Monthly
  • Listing Key: 1BA5B33DB4B12A16E063D501100A51B5
  • Unit Entry Order: 2
  • Unit Full Baths: 1
  • Unit Modified Date: 08-16-2024
  • Unit Monthly Rent: $800
  • Unit Num Bedrms: 2
  • Unit Num Rooms: 3

Property History for 7 Griswold Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7 Griswold Avenue

Taxable ValueLand$59,600Additions$129,000Total$188,600
Tax Record2024$4,602 ($384 / month)
Home Facts
Lot Size7,500 SqFtStyleMulti-Family Dwelling (2-4)CountyNEW LONDONAPNOLYM M:28 L:60

Schools near 7 Griswold Avenue

This home is within Regional School District 18.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Private - PK to 6
Rating
School
Distance
Mile Creek School
PublicK to 5

Lyme-Old Lyme Middle School
Public6 to 8

Lyme-Old Lyme High School
Public9 to 12

The Children's Tree Montessori School
PrivatePK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of Real Broker CT, LLC, Kristopher J Tramont; Real Broker CT, LLC, Kristopher J Tramont

Based on information from one of the following Multiple Listing Services: Darien MLS, Smart MLS and Greenwich Multiple Listing Service. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Darien MLS, Smart MLS and Greenwich Multiple Listing Service is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.