$640,000
●
Multifamily -
Off Market
21 Eastern Avenue
Gloucester, MA 01930
4 Beds
2 Baths
2,144 Ft²
$629,900
RealtyHop Estimate
0.00%
Since Dec 1, 2023
National-US
Primary Model
About This Property
Centrally located 2-family with detached 2-car garage close to
Gloucester's historic downtown, beaches and Rt. 128! This property
is an excellent opportunity for both investors and owner occupants,
with a 4-room 2-bedroom unit on the first floor which is
currently rented for $1,924/month, and a 5-room 2-bedroom
townhouse-style unit on the 2nd and 3rd floors which is currently
owner-occupied and has been freshly painted. Each unit has its own
heat and electric, and each has its own deck. Recent updates
include new roof and vinyl replacement windows throughout in 2009,
new 8-foot sliding glass door in 2009, new decks (2009-2010), 2 gas
heating systems in 2010, new vinyl and Pergo flooring in 2021 and
new hot water tank in 2022. Perfect location for commuters!
Unit Size
2,144 Ft²
Days on Market
-
Land Size
0.14 acres
Price per sqft
$294
Property Type
Multifamily
Property Taxes
$413
HOA Dues
-
Year Built
1812
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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: 4 years ago (MLSPIN #73144600)
Price History
Property Highlights
Parking Available
Fireplace
Parking Details
Has Garage
Parking Features: Paved Drive, Off Street, Tandem, Paved
Garage Spaces: 2
Interior Details
Full Bathrooms: 2
Interior Features: Mudroom, Unit 1(Ceiling Fans, High Speed Internet Hookup, Bathroom With Tub & Shower, Internet Available - Broadband), Unit 2(Ceiling Fans, Cathedral/Vaulted Ceilings, High Speed Internet Hookup, Upgraded Countertops, Walk-In Closet, Bathroom With Tub & Shower, Open Floor Plan, Programmable Thermostat, Slider, Internet Available - Broadband), Unit 1 Rooms(Living Room, Kitchen), Unit 2 Rooms(Living Room, Dining Room, Kitchen)
Appliances: Unit 2(Range, Dishwasher, Disposal, Refrigerator, Washer, Dryer, Vent Hood), Utility Connections for Gas Range, Utility Connections for Gas Dryer, Utility Connections for Electric Dryer, Utility Connections Varies per Unit
Flooring Type: Wood, Vinyl, Varies Per Unit, Hardwood, Pine, Wood Laminate, Unit 2(Tile Floor, Hardwood Floors, Wood Flooring)
Laundry Features: Washer Hookup, Unit 1(Washer & Dryer Hookup)
Rooms: 9
Has Fireplace
Fireplace Features: Unit 2(Fireplace - Wood burning)
Fireplaces: 1
Basement: Full, Interior Entry, Dirt Floor, Concrete, Unfinished
Exterior Details
Security Features: Security System, Unit 1 Security System, Unit 2 Security System
Property Condition: Unit 2 Remodeled
Road Responsibility: Public Maintained Road
Year Built Source: Public Records
Year Built Details: Approximate, Renovated Since
PropertySubType: 2 Family - 2 Units Up/Down
Stories (Total): 3
Building Area Units: Square Feet
Window Features: Insulated Windows, Screens
Construction Materials: Frame, Post & Beam
Patio and Porch Features: Porch, Deck - Wood, Covered
Lead Paint: Unknown
Lot Features: Cleared, Sloped
Lot Size Area: 0.14
Lot Size Units: Acres
Lot Size Acres: 0.14
Zoning: R-5
Parcel Number: M:0050 B:0012 L:0000, 1896322
Water Source: Public
Financial Details
Tax Map Number: 50
Tax Assessed Value: $467,600
Tax Annual Amount: $4,952
Utilities Details
Utilities: for Gas Range, for Gas Dryer, for Electric Dryer, Washer Hookup, Varies per Unit
Cooling Type: None, Unit 1(None)
Heating Type: None, Unit 1(Central Heat, Hot Water Baseboard, Gas, Individual), Unit 2(Central Heat, Hot Water Baseboard, Gas, Individual, Unit Control)
Sewer : Public Sewer
Location Details
Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Highway Access, Marina, Public School, T-Station, Sidewalks
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
08/11/2023
| |
4 Bed
|
2 Bath
|
2144 ft²
|
$629,900
4 Bed
2 Bath
2144 ft²
|
$640,000
+1.60%
11/09/2023
|
Mark T. Vadala
Vadala Real Estate
|
|
09/04/2008
| |
3 Bed
|
2 Bath
|
2098 ft²
|
$219,900
3 Bed
2 Bath
2098 ft²
|
$205,000
-6.78%
11/10/2008
|
Mark T. Vadala
|
Building Info
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