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Gloucester 01930
40 Eastern Point Road
$225,000
● House - Off Market

40 Eastern Point Road

Gloucester, MA 01930
bedrooms
3 Beds
bathrooms
2 Baths
square feet
1,616 Ft²
$450,914
RealtyHop Estimate
91.88%
Since Sep 1, 2008
National-US
Primary Model

About This Property

Opportunity to create your own home in East Gloucester. 7500+ square foot lot with two existing houses. Main house is 1272 square feet and detached, rear cottage is 344 square feet with full bath and utilities. Views to inner harbor. Property sold "AS IS".  Niles beach (which is privately owned, but leased to the c/o Gloucester) is approximately 1/4 mile from property. Rocky Neck art colony is nearby to enjoy. Main foundation under house is unknown.
Unit Size
1,616 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$145
Property Type
House
Property Taxes
$248
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 #70608584)

Price History

Date / Event Date Event Price
Aug 5, 2008 Sold
Premium
Sold
Jul 2, 2007 Listed by Carlson GMAC Real Estate $235,000
Listed by Carlson GMAC Real Estate

Property Highlights

Fireplace
Parking Available

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1920
  • Building Count: 2
  • Bedroom Count: 3
  • Bathroom Count: 1
  • Full Bathrooms: 1
  • Partial Bathrooms: 1
  • Building Condition: 0
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 0
  • 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: 7,592
  • Total Building Area: 1,272
  • Building Area: 1,272
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 1,272
  • Heating Fuel Type: 0

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000174
  • Standard Land Use Code: 1100
  • County Land Use Code: 109

Neighborhood

  • School District Name: Gloucester School District
  • School Tax School District: GLOUCESTER SD
  • Census Tract: 221300

Zoning

  • Zoning: R-10

Geography

  • Parcel: GLOU M:0132 B:0010 L:0000
  • Block: 10
  • Municipality: GLOUCESTER
  • Latitude: 42.6005
  • Longitude: -70.6548

    Address

  • Full Address: 40 Eastern Point Rd
  • Address - House Number: 40
  • Address - Street Name: Eastern Point
  • Address - Suffix Type: Rd
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C023
  • 4-Digit Zip Code: 4131
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $903,900

    Appraisal Valuation

  • Standard Deviation: 0.1611
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 67
  • Final Value: 964,158
  • High Value: 1,119,553
  • Low Value: 808,762

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $929,000
  • Assessed Land Value: $321,900
  • Assessed Improvements Value: $607,100

    Sales

  • Current Sale Recording Date: Aug 05, 2008
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
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

1906 ft²

Average Home Age

79.6 years

Currently For Sale

89 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: 4 months ago
Data Source: MLS PIN, MLS# 70608584

Frequently Asked Questions

When was property at 40 Eastern Point Road built and last sold?
The property at 40 Eastern Point Road was built in 1920 and last sold on Jan 1, 1970 for $225,000.
How much is this home worth?
The estimated value of the home located at 40 Eastern Point Road is $267,247.
What are some comparable homes to 40 Eastern Point Road?
There are currently no comparable homes to 40 Eastern Point Road.
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