Groton, New London County
Apartment and Multifamily appraisal in Groton, CT
MAI-led appraisals of apartment property in Groton for lenders, estates, owners, investors and attorneys.
Apartment and Multifamily property in Groton
Groton's rental market is driven by Electric Boat and the Naval Submarine Base, with demand for everything from small multifamily houses to larger garden-style complexes.
- 16%of our Groton work is apartment property
- Partnerinspects every property and signs every report
How we value apartment property
Rent roll and lease terms
Actual rents compared with market rents, unit mix, vacancy, and who pays heat, hot water and electric.
Operating expenses
Taxes, insurance, utilities, repairs and management, checked against comparable buildings so the net income is realistic.
Capitalization rate
Supported by local apartment sales, not national surveys.
Condition and deferred maintenance
Roofs, heating systems, lead and code issues all matter, especially in older Connecticut buildings.
What to send us
- Current rent roll with unit mix and lease dates
- Two to three years of operating statements
- Real estate tax bill and insurance cost
- List of recent capital improvements
Learn more about apartment and multifamily appraisals or our work across Groton.
Apartment and Multifamily appraisals in Groton: common questions
Do you appraise apartment property in Groton?
Yes. Groton is one of the towns where we do the most apartment work in New London County, and we inspect every property in person.
Can you do an estate or date-of-death appraisal of a apartment property in Groton?
Yes. We prepare retrospective appraisals of apartment property in Groton for executors, estate attorneys and families.
Do you appraise small apartment buildings?
Yes. Two- to six-family and small walk-up buildings are a large share of our apartment work.
Which approach do you use for apartments?
Mainly the income approach, supported by the sales comparison approach. For proposed or newer buildings we also consider cost.
Need a commercial appraisal in Groton?
Tell us about the property and what the appraisal is for. We will respond with a fee and a delivery date, usually within one business day.