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Gloucester 01930
3 Locust Lane
$387,000
● House - Off Market

3 Locust Lane

Gloucester, MA 01930
bedrooms
2 Beds
bathrooms
2 Baths
square feet
1,564 Ft²
$660,314
RealtyHop Estimate
69.75%
Since Jul 1, 2016
National-US
Primary Model

About This Property

This charming year round cottage is very close to Niles Beach and Rocky Neck.  While the outside needs a little TLC the inside has been nicely updated with hardwood floors throughout, newer windows, and granite counters.  The living room has a two sided fireplace.  A sun room or could be a studio with sky lights leads to the Beacon Hill style backyard with Southwest exposure.  Seasonal waterviews.  Just a great place to enjoy all of what Niles Beach and Rocky Neck has to offer.  Although a year round cottage this would also be a great vacation home, investment, or condo alternative.
Unit Size
1,564 Ft²
Days on Market
-
Land Size
0.05 acres
Price per sqft
$249
Property Type
House
Property Taxes
$286
HOA Dues
-
Year Built
1920

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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: 4 months ago (MLSPIN #71995053)

Price History

Date / Event Date Event Price
Nov 30, 2021 Sold
Premium
Sold
Oct 20, 2021 Listed by Coldwell Banker Residential Brokerage - Gloucester $535,000
Listed by Coldwell Banker Residential Brokerage - Gloucester
Jun 14, 2016 Sold
Premium
Sold
Apr 27, 2016 Listed by Coldwell Banker Residential Brokerage - Gloucester $389,000
Listed by Coldwell Banker Residential Brokerage - Gloucester
May 3, 2010 Sold
Premium
Sold
Show More

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 1
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • Partial Bathrooms: 2
  • Building Condition: 2
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • 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: 1,968
  • Total Building Area: 1,564
  • Gross Building Area: 2,319
  • Building Area: 1,564
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,564
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000450
  • 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: 221300

Zoning

  • Zoning: R-10

Geography

  • Parcel: GLOU M:0133 B:0019 L:0000
  • Block: 19
  • Municipality: GLOUCESTER
  • Latitude: 42.5994
  • Longitude: -70.6548

    Address

  • Full Address: 3b Locust Ln
  • Address - House Number: 3b
  • Address - Street Name: Locust
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C023
  • 4-Digit Zip Code: 4252
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $599,600

    Appraisal Valuation

  • Standard Deviation: 0.1583
  • Valuation Date: Mar 13, 2024
  • Confidence Score: 80
  • Final Value: 699,568
  • High Value: 810,327
  • Low Value: 588,809

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $616,200
  • Assessed Land Value: $311,200
  • Assessed Improvements Value: $305,000

    Sales

  • Current Sale Contract Date: Nov 30, 2021
  • Current Sale Recording Date: Nov 30, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20211130007440
  • Previous Sale Recording Date: Jun 14, 2016
  • Previous Sale Amount: $387,000
  • 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 Gloucester

Stats & Trends

Median Asking:

$699,900

Sale Price/ft²

$443

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1919 ft²

Average Home Age

80.1 years

Currently For Sale

90 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

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 71995053

Frequently Asked Questions

When was property at 3 Locust Lane built and last sold?
The property at 3 Locust Lane was built in 1920 and last sold on Nov 30, 2021 for $585,000.
How much is this home worth?
The estimated value of the home located at 3 Locust Lane is $553,728.
What are some comparable homes to 3 Locust Lane?
There are currently no comparable homes to 3 Locust Lane.
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