Zumper
modified
Updated 5+ Days Ago

Highlights

  • Pet Friendly
  • Professionally managed
  • Updated apartments
  • Well-maintained common areas
  • Vibrant neighborhoods
  • Updated kitchen and bath
  • Professionals

Location

40 Pearl St, New London, CT 06320, USA
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Tour 40 Pearl Street | Downtown New London Living Steps from the Waterfront

Contact

Management

Alpha Capital Management LLC

Leasing office

(203) 350-7064

Property Overview

40 Pearl Street | Downtown New London Living Steps from the Waterfront offers updated apartments, well-maintained common areas, and professionally managed living in a vibrant neighborhood. With strong value, excellent amenities, and a highly rated location, it may appeal to professionals and pet owners seeking convenience and quality near the waterfront.

This summary uses Zumper’s proprietary data. “Zumper Expert Ratings,” “Things you’ll love,” and “Great for” are based on our internal analyses of market trends and renter insights.

Zumper Expert Rating

8.6
Very Good
With a solid 8.6 out of 10 overall, 40 Pearl Street | Downtown New London Living Steps from the Waterfront is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 40 Pearl Street | Downtown New London Living Steps from the Waterfront has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.

Things you’ll love

  • Middle school nearby
  • Less expensive
  • Eco-friendly trash disposal

Great for

  • Pet owners

Floor plans

1BR/1.0BA1 bed1 bath379+ sqft$1,450–$1,500 /mo2 units availableUnit 8 at 40 Pearl Street offers a well-located 1-bedroom apartment in the heart of Downtown New London, making it an excellent option for Electric Boat employees, Coast Guard personnel, and military professionals seeking convenience and reliability. The apartment is within close proximity to major employers including Electric Boat in Groton, the U.S. Coast Guard Academy, and Lawrence + Memorial Hospital, with easy access to I-95, Route 1, Union Station, and local ferry services. Residents enjoy a walkable neighborhood with nearby restaurants, cafés, the New London waterfront, and the Garde Arts Center, along with professionally managed living, online rent payments, and responsive maintenance. Unit 8 is ideal for professionals looking for a comfortable, centrally located home with a short commute and a strong connection to work and lifestyle amenities.

Let's explore this property.

Amenities for 40 Pearl Street | Downtown New London Living Steps from the Waterfront

Apartment Amenities

Heat and Hot Water Included

Appliances

FridgeOven
Stove/Oven

Building

Cats OKDogs OK
Onsite Coin Operated LaundryOnsite Laundry

Services

Trash Removal

Other

Cold Water & Sewer
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.

Policies and fees

Applicants

Applicants

One-time.

Contact Property

REQUIRED FEES

Security Deposit

One-time. Refundable.

Contact Property

Dog Policy

Allowed
Limit1

Cat Policy

Allowed
Limit1

Questions about this property’s policies and fees?

Building details

Property details

Units12

About 40 Pearl Street | Downtown New London Living Steps from the Waterfront

HomeApartments in New London 40 Pearl Street | Downtown New London Living Steps from the Waterfront

40 Pearl Street is a professionally managed 12-unit apartment building located in the heart of Downtown New London, offering residents a walkable lifestyle surrounded by restaurants, cafés, nightlife, and cultural destinations such as the Garden Arts Center and the New London waterfront. The building provides convenient access to Union Station with Amtrak and Shore Line East service, nearby ferry terminals, and major roadways including I-95, making it ideal for commuters working at Electric Boat, the U.S. Coast Guard Academy, Lawrence + Memorial Hospital, and local colleges. With updated apartments, well-maintained common areas, and online rent payment and maintenance services, 40 Pearl Street delivers a comfortable, connected living experience in one of New London’s most vibrant and accessible neighborhoods.


Zumper Expert Rating

Our expert rating is based on a weighted average score of property attributes that renters care about most: price, amenities, location, quality, and trust.
8.6
/10
Very Good
With a solid 8.6 out of 10 overall, 40 Pearl Street | Downtown New London Living Steps from the Waterfront is a great option for renters. While some aspects, like Quality, might not be as distinguished as other properties nearby, 40 Pearl Street | Downtown New London Living Steps from the Waterfront has a number of attractive features—namely its Price— so you can be assured your rent will come with a high standard of living.
How we rated 40 Pearl Street | Downtown New London Living Steps from the Waterfront
Price·10A score that weighs the cost and location of the property, which we calculate by comparing rent prices of recent units to the median price of nearby rentals, adjusting for overall quality and features.
40 Pearl Street | Downtown New London Living Steps from the Waterfront offers an excellent balance between price and value. It's priced competitively for its amenities, location, and other key features. Compared to the median price per bedroom in the area, this property is less than, or about the same as, nearby rentals, so residents can expect great value without too many compromises on their desired standard of living.
Amenities·9A score based on the amenities offered at this property compared to other rentals in the area. We consider the quantity, quality, and popularity of features both on site and within the units.
40 Pearl Street | Downtown New London Living Steps from the Waterfront goes above and beyond to provide sought-after conveniences and desirable perks, including pets allowed. Renters looking for popular or luxurious features will find them here—and for that reason, 40 Pearl Street | Downtown New London Living Steps from the Waterfront receives one of the highest amenities scores.
Location·9A score based on proximity and ease of access to shops, restaurants, schools, and public transportation while considering the desirability of the area.
40 Pearl Street | Downtown New London Living Steps from the Waterfront is exceptional when it comes to location and conveniences. Communication with management or leasing staff is usually quick and easy and they often use advanced scheduling and communication tools to streamline the process. The location of this property offers easy access to popular points of interest in the area and options for getting around.
Quality·6A score based on what makes the property stand out, such as luxury features, unique offerings, age of the building, and our ability to verify the accuracy of these details.
While 40 Pearl Street | Downtown New London Living Steps from the Waterfront does not have many hallmark characteristics to highlight, it has some qualities and features that will resonate with a broad range of renters.
Trustworthiness·8A score based on the accuracy, completeness, recency, and usefulness of the information provided by this property, so you can trust that what you see is what you get.
The level of transparency this property provides distinguishes it as a great rental. With a high attention to detail and desirable features, renters can be sure they will get an accurate picture of their potential new home.

40 Pearl Street | Downtown New London Living Steps from the Waterfront is great for:

Pet owners

  • 1 pet hospital in the area
  • 1 pet grooming service nearby
  • 1 pet supply store near the property

Property highlights

We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.

How 40 Pearl Street | Downtown New London Living Steps from the Waterfront compares to other nearby properties.

Positives

Middle school nearby
There is a middle school 0.2 miles away
Less expensive
The 1-bedrooms are cheaper than other similar listings nearby
Eco-friendly trash disposal
This property has recycling pickup
Laundry available on site
Washers and dryers are available in-building

Considerations

Greater distance from high schools
The nearest high school is farther than 1.4 miles away
Lacks images
Fewer than 5 photos available for this property

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Rent trends in New London

1-bedroom apartments at 40 Pearl Street | Downtown New London Living Steps from the Waterfront cost about 3% less than the average rent price for 1-bedroom apartments in New London.

Median rents as of Oct 31 2026.
New London
A table of studio rental data trends in New London
MonthMedian Rent
November 2024$1,573
December 2024$1,442
January 2025$1,299
February 2025$1,289
March 2025$1,302
April 2025$1,329
May 2025$1,334
June 2025$1,291
July 2025$1,260
August 2025$1,250
September 2025$1,250
October 2025$1,254
November 2025$1,284
December 2025$1,300
January 2026$1,299
February 2026$1,296
March 2026$1,250
April 2026$1,250
May 2026$1,265
June 2026$1,348
July 2026$1,344
August 2026$1,359
September 2026$1,250
October 2026$1,250

Affordability calculator

Can I afford to live at 40 Pearl St?

Bedrooms

1 bedroom

Rent-to-income ratio

30%

Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income

$58,000/yr

With your selected rent-to-income ratio, you'd ideally want to make $58,000 annually to afford this 1-bedroom monthly rent price of $1,450.
For more information on rent affordability, visit our rent calculator.

Schools near 40 Pearl Street | Downtown New London Living Steps from the Waterfront

Mystic River Magnet School

160 fish town rd

mystic, CT, 6355

PK, K-5Public
B-

Westerly Inclusion Preschool P

23 highland ave

westerly, RI, 2891

PKPublic

Oysterponds Elementary School

23405 main rd

orient, NY, 11957

PK, K-6Public
B
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Getting around New London near 40 Pearl St

Walking

7/10
Grab your reusable bags–many shops and stores are within walking distance.

Driving

9/10
Commuting is easy with multiple accessible routes and plenty of parking.

Cycling

4/10
More spots are within biking distance and some roads are cyclist-friendly.

Transit

6/10
Popular public transit options are just a short walk from this location.

Points of interest for 40 Pearl St, New London

Groceries

9/10
At least one supermarket within a 5-minute walk

Shopping

5/10
Several shops within walking distance

Cafes

6/10
Some cafés within a few minutes’ walk

Restaurants

7/10
Variety of restaurants within a few minutes' walk

Primary schools

9/10
At least one elementary school within a 5-minute walk

High schools

9/10
At least one high school within a 5-minute walk

Nightlife

4/10
Some bars within walking distance

Explore the area around 40 Pearl St

Zambala Grocery Store
143 State St
Rainbow Grocery
224 State St
Fiddleheads Food Cooperative
13 Broad St
Fiesta Market
83 Mountain Ave
Pezzello Brothers Fruit & Produce
148 Jefferson Ave

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