$4,155 Closing Credit¹
#24069880, Michael Truong, Listing Office: eXp Realty
#24071635·
Listing Office: VC Property Group, LLC·
Listing Agent: Anthony Velez·
Listing Office Phone: (860) 519-3800
$6,234
closing credit¹
39 Fairmount St Norwich, CT 06360
$525,000 List price
$6,234
Closing credit¹
6 beds
4 full
3,854 sqft
0.2 acres
$136 / sqft
Multi-Family
Property details
About 39 Fairmount St
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
Highlights
Home typeMulti Family
HeatingBaseboard
StatusActive
Size3,854 sqft
BasementYes
Lot size0.2 Acres
Year built1886
MLS #24071635
Summary
- MLS Number: 24071635
- Office Name: VC Property Group, LLC
- Office Phone: (860) 519-3800
- Office Email: anthony.velez@vcpropertygrp.com
- Listing Agent: Anthony Velez
Copyright © 2025 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: 2/8/2025, 7:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$525,000
39 Fairmount St
$6,234
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Feb 23, 2024 | Home Sold | $725,000 |
| Dec 08, 1994 | Home Sold | $39,900 |
| Dec 20, 1991 | Home Sold | $90,000 |
| Jun 23, 1987 | Home Sold | $150,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $150,000 | $5,730 |
| 2023 | $126,100 | $6,134 |
| 2022 | $126,100 | $6,113 |
| 2021 | $126,100 | $6,134 |
| 2020 | $126,100 | $6,112 |
| 2019 | $126,100 | $6,052 |
History based on county public records data.
Nearby schools
4
John B. Stanton School
Public District KG-5
0.8 mi
•386 New London Tpke
4
Uncas Elementary School
Public District KG-5
1.0 mi
•280 Elizabeth Street Ext
4
Veterans' Memorial School
Public District KG-5
1.6 mi
•80 Crouch Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $45,763. The majority of Norwich, CT residents have income between $35k-100k annually. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
36%
<35k
49%
35k-100k
15%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
52%
Single, No Kids
17%
Single, with Kids
18%
Married, No Kids
13%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
14%
<11 yrs old
8%
12-17 yrs old
24%
18-34 yrs old
42%
35-64 yrs old
12%
65+ yrs old
What do the neighbors do for fun?
College Basketball
Soccer
Pro Boxing
Where do the neighbors shop?
Dillards
Forever 21
Family Dollar
Where do the neighbors go to eat?
Logan's Roadhouse
Dominos Pizza
White Castle
What do the neighbors drive?
Hyundai
Mazda
Chevrolet
What do the neighbors listen to?
Rock
Rhythmic Contemporary Hits
Contemporary Inspirational
All data provided by Home Junction and Claritas
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This home is located at 39 Fairmount St in Norwich, CT and zip code 06360. This 3,854 square foot home, which was built in 1886, sits on a 0.20 acre lot. Features: 6 bedrooms, 4 bathrooms. It has been listed on Rocket Homes since January 30, 2025 and is currently priced at $525,000.
In January 2025, from all listings sold in Norwich, CT there were more than 15 sold above asking price, over 17 sold below and more than 6 were sold right at the asked price. The inventory of homes for sale in Norwich, CT between December and January 2025 increased by 10.1%.
From Rocket Homes Real Estate and based on county public records data.