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    Remodeled Apartment Near Town Beach Title is generated by Realmo AI

    157 River Road Unit 2, Willington, CT 06279

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    For Lease
    $2,850/Mo $22 SF/Yr (calc)

    Meticulously remodeled apartment with modern amenities and convenient location.

    Type:Multi-Family Rental
    Property size:
    1,522 SF
    Added:
    Apr 21, 2026
    Days on Market:
    39
    Last Refresh:
    May 15 at 12:34 pm

    Property Features for 157 River Road Unit 2

    General Information

    Standard status
    Active
    Size
    1,522 SF
    Property subtype
    Multi-Family Rental

    Building Details

    Year Built
    1840

    We can help!

    Listing Contact
    Timothy Morse

    Listing agent Timothy Morse

    Listing office Alliance Realty LLC

    Listing date Apr 21, 2026

    Source Lockandkeyre

    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 Alliance Realty LLC

    HighLights

    • Completely remodeled with new plumbing, electrical, HVAC, windows, insulation, fixtures, kitchens, and baths.
    • Stunning kitchen with Cambria Quartz counters, custom cabinetry, stainless appliances, and washer/dryer.
    • Refinished hardwood floors throughout and ethernet/cable wiring in every room.
    • Master bedroom suite with full bath, plus two additional bedrooms and a second full bath.
    • Located across the street from town beach, community gallery, history museum, and performance venue.
    • Off‑street parking, yard space, high‑efficiency propane heat, and central air.

    Overview

    This meticulously remodeled apartment features new plumbing, electrical, HVAC, windows, insulation, fixtures, kitchens, and baths. Refinished hardwood floors extend throughout the unit. Every room is wired for ethernet and cable. The kitchen features Cambria Quartz counters, custom cabinetry, stainless appliances, and a washer/dryer. The open living room and dining room showcase sparkling hardwood floors. The master bedroom suite includes a full bath. Two additional bedrooms and a second full bath are also present. Each bath features granite top vanities and glass shower doors. The unit is equipped with high-efficiency propane heat, central air, and thermopane windows. Off-street parking is available. Residents can enjoy a yard space. The property is located across the street from the town beach, community gallery, history museum, and performance venue, with easy access to I-84 and UConn. Note: these photos are unit 2 (upper) this is an almost identical unit in floorplan and condition. The property size is 1522 square feet.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Real Estate Agency Law Firm Big Box & Wholesale Store Kitchen & Bath Showroom Storage Facility HVAC Service Furniture & Home Goods Veterinary Clinic Plumbing Service

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

    Location Insight

    • Map
    • Local Demand
    City
    Willington
    County
    Tolland
    State
    Connecticut
    Longitude
    -72.30007
    Latitude
    41.85728

    Nearby Similar for Lease

    • $2,850/Mo

      Remodeled Apartment Near Town Beach

      Meticulously remodeled apartment with modern amenities and convenient location.
      157 River Rd 2, Willington, CT 06279
      View Details
    • $2,500/Mo

      Spacious Updated 4-Bedroom Apartment

      Updated 4-bedroom apartment near universities with modern amenities and parking.
      162 Pinney Hill Rd, Willington, CT 06279
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Meticulously remodeled apartment with modern amenities and convenient location.
    Where is this multifamily property located?
    The property is located at 157 River Road Unit 2 Willington, CT.
    What is the lease rate?
    The lease rate is $2,850 /Mo.
    What are key features of this property?
    This property features: Completely remodeled with new plumbing, electrical, HVAC, windows, insulation, fixtures, kitchens, and baths.; Stunning kitchen with Cambria Quartz counters, custom cabinetry, stainless appliances, and washer/dryer.; Refinished hardwood floors throughout and ethernet/cable wiring in every room.
    (860) 481-9553
    We can help!
    Listing Contact
    Timothy Morse
    Learn More
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    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.

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