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Gloucester 01930
385 Magnolia Avenue
$325,000
● House - Off Market

385 Magnolia Avenue

Gloucester, MA 01930
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,702 Ft²
$613,385
RealtyHop Estimate
85.87%
Since Jul 1, 2014
National-US
Primary Model

About This Property

Old charm with modern convenience. Views of Little River from this 3bed/1.5 bath West Gloucester Colonial. Kitchen just fully renovated. Both baths updated. Lots of character remains with fireplaces, tall ceilings, built-in features and more. Convenient access to commuter rail and highway. New West Parish Elementary School being built nearby. Public landing right across the street. Neighborhood Business (NB) zoning means lots of options. Motivated seller.
Unit Size
1,702 Ft²
Days on Market
-
Land Size
0.20 acres
Price per sqft
$194
Property Type
House
Property Taxes
$257
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: 5 months ago (MLSPIN #71663524)

Price History

Date / Event Date Event Price
Jun 30, 2014 Sold
Premium
Sold
Apr 21, 2014 Listed by RE/MAX Advantage Real Estate $330,000
Listed by RE/MAX Advantage Real Estate
Nov 8, 2013 Sold
Premium
Sold
Jul 25, 2013 Listed by RE/MAX Advantage Real Estate $289,000
Listed by RE/MAX Advantage Real Estate

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • 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: 7
  • Basement Area: 838
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 8,844
  • Total Building Area: 1,695
  • Gross Building Area: 2,533
  • Building Area: 1,695
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,695
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000203
  • 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: NB

Geography

  • Parcel: GLOU M:0220 B:0125 L:0000
  • Block: 125
  • Municipality: GLOUCESTER
  • Latitude: 42.6103
  • Longitude: -70.7078

    Address

  • Full Address: 385 Magnolia Ave
  • Address - House Number: 385
  • Address - Street Name: Magnolia
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C025
  • 4-Digit Zip Code: 2357
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $545,200

    Appraisal Valuation

  • Standard Deviation: 0.1792
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 76
  • Final Value: 671,439
  • High Value: 791,802
  • Low Value: 551,077

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $560,300
  • Assessed Land Value: $151,200
  • Assessed Improvements Value: $409,100

    Sales

  • Current Sale Recording Date: Jun 30, 2014
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 63000588
  • Previous Sale Recording Date: Nov 08, 2013
  • Previous Sale Amount: $272,000
  • 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:

$699,000

Sale Price/ft²

$447

Below Asking

0.03%

Average Days on Market

56

Average Home Size

2011 ft²

Average Home Age

83.2 years

Currently For Sale

94 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 months ago
Data Source: MLS PIN, MLS# 71663524

Frequently Asked Questions

When was property at 385 Magnolia Avenue built and last sold?
The property at 385 Magnolia Avenue was built in 1920 and last sold on Jan 1, 1970 for $325,000.
How much is this home worth?
The estimated value of the home located at 385 Magnolia Avenue is $358,958.
What are some comparable homes to 385 Magnolia Avenue?
There are currently no comparable homes to 385 Magnolia Avenue.
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