Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Three-Bedroom Apartment Available Title is generated by Realmo AI

    1 Farnsworth St 1, New London, CT 06320

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1,800 /Mo

    Recently renovated three-bedroom apartment near Coast Guard Academy.

    Type:Multi Family
    Added:
    Apr 27, 2026
    Days on Market:
    13
    Last Refresh:
    Apr 27 at 11:16 pm

    Property Features for 1 Farnsworth St 1

    General Information

    Standard status
    Active
    Property subtype
    Multi Family

    Building Details

    Year Built
    1912

    We can help!

    Listing Contact
    Susan Johnson

    Listing agent Susan Johnson License #RES.0800027

    Listing office

    Listing date Apr 27, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Susan Johnson

    HighLights

    • Renovated building offers modern living.
    • Enjoy the convenience of an in‑unit washer and dryer.
    • Features three bedrooms and two bathrooms.
    • Conveniently located near the Coast Guard Academy and Connecticut College.
    • Easy access to I‑95 and I‑395.
    • Spacious bedrooms and a large living area.

    Overview

    This renovated first-floor apartment features three bedrooms and two bathrooms, with a large living area and spacious bedrooms. A washer and dryer are provided in the unit. The building is located within walking distance of the Coast Guard Academy and Connecticut College, with convenient access to Interstates 95 and 395, Electric Boat, Pfizer, and Millstone. The unit is non-smoking, and no pets are allowed. The location has a walk score of 0, indicating it is somewhat walkable, a bike score of 37, indicating it is somewhat bikeable, and a transit score of 32, indicating some transit options are available.
    Location Intelligence

    Current Use by Public Records

    Residential income properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Auto Repair Shop Pharmacy Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New London
    County
    State
    Connecticut
    Longitude
    -72.10108
    Latitude
    41.37826

    Nearby Similar for Lease

    • Contact for pricing

      Functional Studio Space in Downtown

      3,000 SF studio space in vibrant downtown New London.
      38 Green St, New London, CT 06320
      View Details
    • Contact for pricing

      Refreshed Commercial Unit in New London

      Well-maintained 468 sq ft commercial unit for rent.
      455 Williams St 1, New London, CT 06320
      View Details
    • Contact for pricing

      Retail/Medical Space with High Ceilings

      6,120 SF retail/medical space with expansion potential.
      48-58 Ocean Ave, New London, CT 06320
      View Details
    • $1,692/Mo

      Office/Retail Space Overlooking Shaw's Cove

      Office and retail spaces available in pristine New London location.
      88-A Howard Street, New London, CT 06320
      View Details
    • $2,000/Mo

      Versatile Commercial Unit in New London

      800 SF commercial unit ideal for retail, food, or office.
      6 Lower Blvd, New London, CT 06320
      View Details
    • $2,000/Mo

      Versatile Commercial Unit For Rent

      800 SF commercial unit ideal for retail or office.
      6 Lower Boulevard, New London, CT 06320
      View Details
    • $1,500/Mo

      New London Office Space Available

      Office space for lease near downtown New London.
      245 Shaw Street #C, New London, CT 06320
      View Details
    • $1,200/Mo

      East New London Commercial Unit

      Well-maintained commercial unit in thriving coastal submarket, ideal for professionals.
      455 Williams Street #1, New London, CT 06320
      View Details
    • $2,100/Mo

      Freestanding Commercial Building with Drive-Throughs

      Commercial building with two drive-throughs, suitable for restaurant or retail.
      458 Ocean Avenue, New London, CT 06320
      View Details
    • $2,300/Mo

      Renovated Apartment Near Employers

      Recently renovated 3-bedroom apartment near shopping, dining, and employers.
      145 Crystal Ave 3, New London, CT 06320
      View Details
    • $2,200/Mo

      Completely Rebuilt Multi-Family Unit

      Two-bedroom, two-bath unit with modern finishes near Yale and Electric Boat.
      192 Montauk Ave 1, New London, CT 06320
      View Details
    • $2,900/Mo

      Downtown Photography Studio Space

      Functional studio space in downtown New London, ideal for photography.
      38 Green Street, New London, CT 06320
      View Details

    FAQs

    What type of property is this?
    Residential income property - Recently renovated three-bedroom apartment near Coast Guard Academy.
    Where is this residential income property located?
    The property is located at 1 Farnsworth St 1 New London, CT.
    What is the lease rate?
    The lease rate is $1,800 /Mo.
    What are key features of this property?
    This property features: Renovated building offers modern living.; Enjoy the convenience of an in‑unit washer and dryer.; Features three bedrooms and two bathrooms.
    (321) 223-4847
    We can help!
    Listing Contact
    Susan Johnson
    Real Estate License ID: RES.0800027
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1 Farnsworth St 1, New London, CT 06320
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!