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    Two-Unit Home Built in 1911 Title is generated by Realmo AI

    77 Taftville Occum Rd, Norwich, CT 06360

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    New
    For Sale
    $268,000

    Built in 1911, this two-unit residence offers flexible rental or owner-occupancy setup near major commuting routes.

    Type:Multi Family
    Property size:
    1,518 SF
    Price / SF:
    $176/SF
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 2:44 am

    Property Features for 77 Taftville Occum Rd

    General Information

    Standard status
    Active
    Size
    1,518 SF
    Property subtype
    Multi Family

    Building Details

    Year Built
    1911

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    Listing Contact
    Ivy Ong
    Ivy Ong

    Listing agent Ivy Ong License #RES.0794065

    Listing office RE/MAX Success

    Listing date Jun 4, 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 RE/MAX Success

    HighLights

    • Built in 1911, 2‑unit multi‑family home offering 1,518 SF with 4 bedrooms and 2 bathrooms.
    • Flexible setup for rental income or owner‑occupancy as a two‑unit residence.
    • Located near I‑395 (Exit 18) for easier commuting access.
    • BikeScore 23 (somewhat bikeable) and walkScore 6 (car‑dependent); transitScore 15 (minimal transit).
    • Nearby amenities include Norwichtown Commons, Salem Plaza, and Backus Great Plains Plaza.

    Overview

    This 2-unit multi-family home was built in 1911 and provides a total of 1,518 square feet. The layout includes 4 bedrooms and 2 bathrooms, making it well suited for either full rental use or owner-occupancy with income from the second unit. The property is presented as a residential income asset in solid, long-term housing stock.

    The home is located on Taftville Occum Rd in Norwich, CT, with easy access to I-395 near Exit 18. The area is served by John M. Moriarty School, Kelly Middle School, and Norwich Free Academy. Shopping is available a few minutes away at Norwichtown Commons, Salem Plaza, and Backus Great Plains Plaza, and local dining options include Occum Pizza. Occum Park, a $2.7 million riverfront redevelopment project, is nearby, along with Mohegan Park and the Veterans Memorial Rose Garden.

    For tenants, buyers, or owner-occupants seeking a straightforward two-unit structure, the mix of bedrooms and bathrooms supports practical living arrangements across the two units. With commuter access via I-395 and a mix of nearby daily conveniences, the property offers a usable, residential income setup in the Occum area. Schedule an appointment to view the property.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Auto Repair Shop Big Box & Wholesale Store Accounting Firm Kitchen & Bath Showroom

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

    Location Insight

    • Map
    • Local Demand
    City
    Norwich
    County
    New London
    State
    Connecticut
    Longitude
    -72.04842
    Latitude
    41.59126

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    FAQs

    What type of property is this?
    Duplex - Built in 1911, this two-unit residence offers flexible rental or owner-occupancy setup near major commuting routes.
    Where is this duplex located?
    The property is located at 77 Taftville Occum Rd Norwich, CT.
    What is the asking price?
    The asking price for this property is $268,000.
    What are key features of this property?
    This property features: Built in 1911, 2‑unit multi‑family home offering 1,518 SF with 4 bedrooms and 2 bathrooms.; Flexible setup for rental income or owner‑occupancy as a two‑unit residence.; Located near I‑395 (Exit 18) for easier commuting access.
    (860) 287-7851
    We can help!
    Listing Contact
    Ivy Ong
    Ivy Ong
    Real Estate License ID: RES.0794065
    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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    77 Taftville Occum Rd, Norwich, CT 06360
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