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For sale
  • $725,000

    502 East Main Street, Norwich, CT 06360

    12beds
    3,724sqft
    : 
    $5,752/mo
    Get pre-qualified
    Multi Family
    Built in 1860
    -- sqft lot
    $698,300 Zestimate®
    $195/sqft
    $-- HOA

    What's special

    Fully renovated
    **Turnkey Four-Unit Investment Opportunity!** Fully renovated and fully rented, this exceptional property offers four spacious three-bedroom, one-bath units-three in the main building and a separate cottage in the rear. Generating approximately $7,500 per month, or $90,000 annually, in reliable rental income, this is an outstanding opportunity for investors seeking immediate cash flow with minimal deferred maintenance. Extensive renovations have been completed throughout, offering low expenses and overhead and eliminating the need for major capital improvements. Three of the four units feature laundry hookups and dishwashers. Ideally located near shopping, dining, medical facilities, major commuter routes, and the area's nearby casinos. This property combines strong rental demand with convenience. Whether you're expanding your portfolio or looking for a turnkey income-producing asset, this four-unit property offers an attractive combination of condition, income, and location. One of the listing agents is also a member of the LLC that owns the property.
    36 days
    150
    7

    Zillow last checked:

    Listing updated:

    Listed by:

    The Jay and Carol Kelly Team at William Raveis Real Estate,

    James Kelly (860)550-0295,

    William Raveis Real Estate 860-886-1386,

    Co-Listing Agent: Ernest Tollja 646-775-0207,

    William Raveis Real Estate

    Source: Smart MLS,MLS#: 24190644MLS Logo

      Facts & features

      Interior

      Bedrooms & bathrooms
      • Bedrooms: 12
      • Bathrooms: 4
      • Full bathrooms: 4
      Heating
      • Baseboard, Natural Gas
      Cooling
      • None
      Appliances
      • Included: Water Heater
      • Laundry: In Unit
      Features
      • Doors: Storm Door(s)
      • Windows: Thermopane Windows
      • Basement: Partial,Unfinished
      • Attic: None
      • Has fireplace: No
      Interior area
      • Total structure area: 3,724
      • Total interior livable area: 3,724 sqft
      • Finished area above ground: 3,724

      Property

      Features
      • Exterior features: Sidewalk
      Lot
      • Size: 4,791 Square Feet
      • Features: Sloped
      Details
      • Parcel number: 2412488
      • Zoning: MF

      Construction

      Type & style
      • Home type: MultiFamily
      • Architectural style: Units on different Floors,Other
      • Property subtype: Multi Family
      Materials
      • Vinyl Siding
      • Foundation: Concrete Perimeter, Stone
      • Roof: Asphalt
      Condition
      • New construction: No
      • Year built: 1860

      Utilities & green energy

      • Sewer: Public Sewer
      • Water: Public
      Green energy
      • Energy efficient items: Doors, Windows

      Community & HOA

      HOA
      • Has HOA: No
      Location
      • Region: Norwich

      Financial & listing details

      • Price per square foot: $195/sqft
      • Tax assessed value: $194,000
      • Annual tax amount: $6,625
      • Date on market: 9/1/2026

        Estimated market value

        $698,300

        $663,000 - $733,000

        $1,853/mo

        Price history

        DateEventPrice
        9/1/2026Listed for sale$725,000+386.6%$195/sqft
        Source: Smart MLS #24190644 Report a problem
        11/8/2022Sold$149,000-0.6%$40/sqft
        Source: Smart MLS #170422874 Report a problem
        8/25/2022Listed for sale$149,900$40/sqft
        Source: William Raveis Real Estate, Mortgage & Insurance #170422874 Report a problem
        9/25/2021Contingent$149,900$40/sqft
        Source: Smart MLS #170422874 Report a problem
        8/1/2021Pending sale$149,900$40/sqft
        Source: William Raveis Real Estate, Mortgage & Insurance #170422874 Report a problem
        7/24/2021Listed for sale$149,900+24.9%$40/sqft
        Source: William Raveis Real Estate, Mortgage & Insurance #170422874 Report a problem
        10/2/2020Listing removed$120,000$32/sqft
        Source: William Raveis Real Estate #170324309 Report a problem
        8/29/2020Price change$120,000-7.7%$32/sqft
        Source: William Raveis Real Estate #170324309 Report a problem
        8/7/2020Listed for sale$130,000+8.4%$35/sqft
        Source: William Raveis Real Estate #170324309 Report a problem
        4/11/1988Sold$119,900$32/sqft
        Source: Public Record Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$7,851 +5.9%$194,000
        2024$7,411 +70.1%$194,000 +115.8%
        2023$4,356 0%$89,900
        2022$4,358 -0.3%$89,900
        2021$4,373 +0.4%$89,900
        2020$4,357 +57.9%$89,900 +56.3%
        2019$2,759 -24.8%$57,500 -24.1%
        2018$3,668 -0.7%$75,800
        2017$3,694 +1.4%$75,800
        2015$3,643 +4.7%$75,800
        2014$3,481 -42.3%$75,800 -59.5%
        2013$6,034 +3.7%$187,000
        2012$5,816 +7.9%$187,000
        2011$5,391 +2.9%$187,000
        2010$5,240 +3.4%$187,000
        2009$5,070 +58.3%$187,000 +73.1%
        2008$3,203 -11%$108,000
        2007$3,599 +4.1%$108,000
        2006$3,458 +4.1%$108,000
        2005$3,321 +147.3%$108,000 +238.6%
        2003$1,343 +23.1%$31,900
        2001$1,091 $31,900
        Find assessor info on the county website

        Monthly payment

        Est. payment

        Payment breakdown

        Explore the cost of this home by adjusting the details. Changes won't be saved.
        All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
        HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
        See how much you could borrow to make a competitive offer.

        Climate risks

        Neighborhood: 06360

        Getting around

        59 / 100
        Somewhat Walkable
        32 / 100
        Some Transit
        20 / 100
        Somewhat Bikeable

        Nearby schools

        GreatSchools rating
        Schools provided by the listing agent
        • High: Norwich Free Academy

        Source: Smart MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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