$475,000
●
Condo -
Off Market
40 Middle Street #1
Gloucester, MA 01930
3 Beds
1 Bath
820 Ft²
$3,156
Est. Monthly
$300
HOA / Fees
6.66%
Cap Rate
About This Property
Beautifully updated 1st floor, 3 bedroom condo in the heart of
downtown Gloucester. New kitchen and bath. Open concept living room
with great sunlight, new and refinished hardwood floors, in-unit
laundry, storage, Steps from Main Street restaurants and shops, and
the harbor, park and beach. Private yard. New patio. On-site
parking. This unit has its own private entrance. Move right in.
This gem won't last.
Unit Size
820 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$610
Property Type
Condo
Property Taxes
$400
HOA Dues
$300
Year Built
-
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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: 2 years ago (MLSPIN #73295732)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 22, 2024 | Sold | ||
| Sold | |||
| Oct 8, 2024 | In contract | - | |
| In contract | |||
| Sep 27, 2024 | Listed by Boston Metropolitan Realty | $499,999 | |
| Listed by Boston Metropolitan Realty | |||
Property Highlights
Parking Available
Interior Details
Level: First
Features: Flooring - Hardwood, Countertops - Stone/Granite/Solid, Open Floorplan, Recessed Lighting
Level: First
Features: Closet, Flooring - Hardwood
Features: Closet, Flooring - Laminate
Level: First
Features: Closet, Closet/Cabinets - Custom Built, Flooring - Hardwood, Lighting - Overhead
Level: First
Level: First
Features: Flooring - Hardwood, Open Floorplan, Recessed Lighting
Level: First
Full Bathrooms: 1
Interior Features: Finish - Sheetrock, Internet Available - Broadband
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer, ENERGY STAR Qualified Refrigerator, ENERGY STAR Qualified Dryer, ENERGY STAR Qualified Dishwasher, ENERGY STAR Qualified Washer
Flooring Type: Wood, Tile, Laminate
Laundry Features: First Floor, In Unit, Electric Dryer Hookup, Washer Hookup
Rooms: 5
Basement: Y
Parking Details
Parking Features: Off Street, Assigned, Stone/Gravel
Exterior Details
Entry Level: 1
Year Built Source: Public Records
Year Built Details: Approximate
PropertySubType: Condominium
Building Name: 40-42 Middle Street Condominiums
Structure Type: Low-Rise
Stories (Total): 1
Building Area Units: Square Feet
Window Features: Insulated Windows
Construction Materials: Frame
Patio and Porch Features: Porch, Patio
Lead Paint: Unknown
Lot Size Area: 0.17
Lot Size Units: Acres
Lot Size Acres: 0.17
Zoning: R-5
Parcel Number: 1894212
Water Source: Public
Financial Details
Tax Assessed Value: $499,000
Tax Annual Amount: $4,800
Utilities Details
Utilities: for Gas Range, for Electric Dryer, Washer Hookup
Cooling Type: None
Heating Type: Baseboard, Electric Baseboard
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Water, Sewer, Insurance, Maintenance Structure, Maintenance Grounds, Snow Removal, Trash, Reserve Funds
Association Fee Frequency: Monthly
HOA Fee: $300
Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station
Pets Allowed: Yes w/ Restrictions
Complex is Completed
Management: Owner Association
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 |
|---|---|---|---|---|---|---|---|
|
04/22/2026
|
3 Bed
|
1 Bath
|
930 ft²
|
$479,000
3 Bed
1 Bath
930 ft²
|
$485,000
+1.25%
06/03/2026
|
Waypoint Realty Group
Coldwell Banker Realty - Boston
| |
|
09/25/2025
|
2 Bed
|
1 Bath
|
835 ft²
|
$465,000
2 Bed
1 Bath
835 ft²
|
$450,000
-3.23%
11/24/2025
|
Jane Meterparel & Brian Marvelley
Churchill Properties
| |
|
01/16/2025
|
3 Bed
|
1 Bath
|
930 ft²
|
$499,000
3 Bed
1 Bath
930 ft²
|
$475,000
-4.81%
03/27/2025
|
Shoshanah Collins
Boston Metropolitan Realty
| |
|
09/27/2024
|
3 Bed
|
1 Bath
|
820 ft²
|
$499,999
3 Bed
1 Bath
820 ft²
|
$475,000
-5.00%
11/22/2024
|
Caroline Bramhall
Churchill Properties
| |
|
08/28/2024
|
1 Bed
|
1 Bath
|
517 ft²
|
$325,000
1 Bed
1 Bath
517 ft²
|
$305,000
-6.15%
11/15/2024
|
Shoshanah Collins
Boston Metropolitan Realty
| |
|
08/27/2024
|
2 Bed
|
1 Bath
|
835 ft²
|
$429,000
2 Bed
1 Bath
835 ft²
|
$435,000
+1.40%
10/15/2024
|
Shoshanah Collins
Boston Metropolitan Realty
| |
|
11/03/2023
| |
10 Bed
|
6 Bath
|
6731 ft²
|
$1,599,900
10 Bed
6 Bath
6731 ft²
|
$1,465,000
-8.43%
02/02/2024
|
Salvatore DiMercurio
Keller Williams Realty Evolution
|
Building Info
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