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Gloucester 01930
29 Ocean Avenue
$665,000
● House - Off Market

29 Ocean Avenue

Gloucester, MA 01930
bedrooms
4 Beds
bathrooms
3 Baths
square feet
2,142 Ft²
$754,187
RealtyHop Estimate
14.44%
Since Sep 1, 2021
National-US
Primary Model

About This Property

A desirable Magnolia neighborhood offers this expanded ranch with Arts and Crafts elements. There is plenty of room for a home office or two, a large country kitchen, three bedrooms, two baths, and a SEPARATE STUDIO APT with its own bath and an enclosed, three season porch, good for extended family {or studio/workshop). A pretty yard is fenced, with open views of a lovely nearby lake...... A perfect choice for those looking for one level living with an in law opportunity, or room for an active family to enjoy. Close to Magnolia's shops, restaurants, and ocean beaches....OPEN HOUSE SUNDAY 6/20, 1-3PM, OR SHOWN BY APPOINTMENT....all offers to be considered on Monday, 6/21, at noon.
Unit Size
2,142 Ft²
Days on Market
-
Land Size
0.37 acres
Price per sqft
$308
Property Type
House
Property Taxes
$572
HOA Dues
-
Year Built
1900

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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: 5 years ago (MLSPIN #72851576)

Price History

Date / Event Date Event Price
Aug 3, 2021 Sold
Premium
Sold
Jun 17, 2021 Listed by Sagan Harborside Sotheby's International Realty $659,000
Listed by Sagan Harborside Sotheby's International Realty

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1900
  • Effective Year Built: 1900
  • Building Count: 1
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 11
  • Exterior Walls Type: 12
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 100
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 16,190
  • Total Building Area: 2,232
  • Gross Building Area: 2,694
  • Building Area: 2,232
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,232
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000372
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Gloucester School District
  • School Tax School District: GLOUCESTER SD
  • Census Tract: 221901

Zoning

  • Zoning: R-20

Geography

  • Parcel: GLOU M:0171 B:0038 L:0000
  • Block: 38
  • Municipality: GLOUCESTER
  • Latitude: 42.5798
  • Longitude: -70.7105

    Address

  • Full Address: 29 Ocean Ave
  • Address - House Number: 29
  • Address - Street Name: Ocean
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C025
  • 4-Digit Zip Code: 5240
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $670,600

    Appraisal Valuation

  • Standard Deviation: 0.1741
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 77
  • Final Value: 802,881
  • High Value: 942,738
  • Low Value: 663,024

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $689,200
  • Assessed Land Value: $259,100
  • Assessed Improvements Value: $430,100

    Sales

  • Current Sale Contract Date: Aug 03, 2021
  • Current Sale Recording Date: Aug 03, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20210803001870
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 Gloucester

Stats & Trends

Median Asking:

$699,450

Sale Price/ft²

$443

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1941 ft²

Average Home Age

77 years

Currently For Sale

91 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

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Last Updated: 5 years ago
Data Source: MLS PIN, MLS# 72851576

Frequently Asked Questions

When was property at 29 Ocean Avenue built and last sold?
The property at 29 Ocean Avenue was built in 1900 and last sold on Aug 3, 2021 for $665,000.
How much is this home worth?
The estimated value of the home located at 29 Ocean Avenue is $690,833.
What are some comparable homes to 29 Ocean Avenue?
There are currently no comparable homes to 29 Ocean Avenue.
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