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$310,500
● Multifamily - Off Market

16 Summit

Gloucester, MA
bedrooms
5 Beds
bathrooms
2 Baths
square feet
2,480 Ft²
$542,475
RealtyHop Estimate
72.27%
Since May 1, 2016
National-US
Primary Model

About This Property

Conveniently located, this well built 2 Family overlooks both city and harbor.  The first level, one bedroom apartment is efficient and bright.  The 2nd unit offers townhouse style living with 2 floors, and 4 bedrooms. This property is solidly built, has  brand new electric services, parking, and a good size yard allowing many possibilities.  Great investment!
Unit Size
2,480 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$127
Property Type
Multifamily
Property Taxes
$253
HOA Dues
-
Year Built
-

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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: 4 years ago (MLSPIN #71964132)

Price History

Date / Event Date Event Price
Apr 28, 2016 Sold
Premium
Sold
Feb 24, 2016 Listed by Non Member Office $314,900
Listed by Non Member Office

Property Highlights

Parking Available
Parking Details
Parking Features: Paved Drive, Off Street, Paved
Interior Details
Full Bathrooms: 2
Interior Features: Unit 1(Ceiling Fans, Storage, Bathroom With Tub & Shower), Unit 2(Ceiling Fans, Storage, Bathroom With Tub & Shower), Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Kitchen)
Appliances: Unit 1(Range, Dishwasher, Refrigerator), Unit 2(Range, Dishwasher, Refrigerator), Oil Water Heater, Utility Connections for Electric Oven, Utility Connections for Electric Dryer, Utility Connections Varies per Unit
Flooring Type: Wood, Vinyl, Unit 1(undefined), Unit 2(Hardwood Floors)
Laundry Features: Washer Hookup
Rooms: 9
Basement: Full, Interior Entry, Concrete
Exterior Details
Year Built Source: Public Records
Year Built Details: Approximate
PropertySubType: 2 Family - 2 Units Up/Down
Stories (Total): 3
Building Area Units: Square Feet
Construction Materials: Frame
Lead Paint: Unknown
Lot Features: Gentle Sloping, Level, Sloped
Lot Size Area: 0.11
Lot Size Units: Acres
Lot Size Acres: 0.11
Zoning: R-5
Parcel Number: 1895130
Water Source: Public
Financial Details
Tax Assessed Value: $223,100
Tax Annual Amount: $3,036
Utilities Details
Utilities: for Electric Oven, for Electric Dryer, Washer Hookup, Varies per Unit
Cooling Type: Unit 1(None), Unit 2(None)
Heating Type: Unit 1(Oil), Unit 2(Oil)
Sewer : Public Sewer
Location Details
Community Features: Public Transportation, Shopping, Pool, Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Conservation Area, Highway Access, House of Worship, Marina, Public School, T-Station

Comparables

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

Past Sales

Date Unit Beds Baths Sqft Price Closed Listed By

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Last Updated: 4 years ago
Data Source: MLS PIN, MLS# 71964132
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