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Beverly 01915
10-16 Congress
$3,500,000
● Land - Off Market

10-16 Congress

Beverly, MA 01915
bedrooms
Studio
bathrooms
0 Bath
$4,185,722
RealtyHop Estimate
44.34%
Since May 1, 2019
MA-Boston
Primary Model

About This Property

10-16 Congress Street is a transit-oriented, waterfront development site located in downtown Beverly, Massachusetts.  The property is offered with approvals and permits in-place (including special permit, ConCom and Chapter 91 license) to build 62 market-rate apartment or condominium units and presents the opportunity to capitalize on the new Opportunity Zones tax regulations in 2019.    * OFFERS DUE: THURSDAY, DECEMBER 6th *
Unit Size
-
Days on Market
-
Land Size
3.78 acres
Price per sqft
-
Property Type
Land
Property Taxes
$833
HOA Dues
-
Year Built
1954

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 6 months ago (MLSPIN #72416391)

Price History

Date / Event Date Event Price
Aug 25, 2023 Sold
Premium
Sold
Apr 1, 2019 Sold
Premium
Sold
Oct 26, 2018 Listed by Colliers International $2,900,000
Listed by Colliers International
Jun 30, 2015 Sold
Premium
Sold
Jan 31, 2003 Sold
Premium
Sold

Property Highlights

Building Info

Overview

    General

  • Year Built: 1954
  • Effective Year Built: 1954
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 768
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,755
  • Total Building Area: 1,600
  • Gross Building Area: 3,438
  • Building Area: 1,600
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 1,600
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000086
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Beverly School District
  • School Tax School District: BEVERLY SD
  • Census Tract: 217402

Zoning

  • Zoning: R6

Geography

  • Account Number: R6
  • Parcel: BEVE M:0001 B:0007 L:
  • Block: 7
  • Municipality: BEVERLY
  • Latitude: 42.5409
  • Longitude: -70.8896

    Address

  • Full Address: 10 Cliff St
  • Address - House Number: 10
  • Address - Street Name: Cliff
  • Address - Suffix Type: St
  • State: MA
  • City Name: Beverly
  • Carrier Code: C001
  • 4-Digit Zip Code: 4806
  • Zip Code: 01915

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $641,700
  • Initial Tax Delinquent Year: 2022

    Appraisal Valuation

  • Standard Deviation: 0.1702
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 78
  • Final Value: 707,434
  • High Value: 827,843
  • Low Value: 587,025

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $571,400
  • Assessed Land Value: $333,900
  • Assessed Improvements Value: $237,500

    Sales

  • Current Sale Contract Date: Aug 25, 2023
  • Current Sale Recording Date: Aug 25, 2023
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20230825001320
  • Previous Sale Recording Date: Jun 30, 2015
  • Previous Sale Amount: $433,000
  • Previous Sale Document Type: O
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Beverly

Stats & Trends

Median Asking:

$749,000

Sale Price/ft²

$457

Below Asking

0.01%

Average Days on Market

51

Average Home Size

3143 ft²

Average Home Age

77 years

Currently For Sale

59 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 160 Federal St, Salem, MA, 01970

$1,725 /mo

  • 1 Bed
  • 1 Bath
160 Federal St, Salem, MA, 01970 Listing by Rick Rivera

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 6 months ago
Data Source: MLS PIN, MLS# 72416391

Frequently Asked Questions

When was property at 10 Congress Street built and last sold?
The property at 10 Congress Street was built in 1954 and last sold on Aug 25, 2023 for $775,000.
How much is this home worth?
The estimated value of the home located at 10 Congress Street is $2,929,000.
What are some comparable homes to 10 Congress Street?
There are currently no comparable homes to 10 Congress Street.
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