$435,000
●
Condo -
Off Market
40 Middle Street #2
Gloucester, MA 01930
2 Beds
1 Bath
835 Ft²
$2,706
Est. Monthly
$275
HOA / Fees
7.97%
Cap Rate
About This Property
This won't last! Beautifully renovated 2 bedroom condo steps
from Main Street with water views! New stainless appliances and
granite counters, laundry in-unit, new patio, newer roof, basement
storage, 2 off-street parking spaces (one on the property and one
leased from nearby lot) plus on-street parking is available.
Restaurants, retail, parks, beach and the harbor are a stones throw
away, plus public transportation, commuter rail, schools and the
highway are close by.
Unit Size
835 Ft²
Days on Market
-
Land Size
0.17 acres
Price per sqft
$514
Property Type
Condo
Property Taxes
$324
HOA Dues
$275
Year Built
-
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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: 3 years ago (MLSPIN #73282308)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 24, 2025 | Sold | ||
| Sold | |||
| Oct 11, 2025 | In contract | - | |
| In contract | |||
| Sep 25, 2025 | Listed by Churchill Properties | $465,000 | |
| Listed by Churchill Properties | |||
   | |||
|
Discover the perfect balance of modern luxury and coastal charm in this meticulously restored condo in the heart of Gloucester. Offering a bright, open floor plan with soaring ceilings, oversized windows, and designer finishes, this home welcomes you with warmth and style. The gourmet kitchen is fully equipped with high-end appliances and sleek cabinetry, ideal for both everyday living and entertaining. Just steps from Gloucester’s vibrant downtown, you’ll enjoy easy access to dining, shopping, cultural attractions, and the harborfront. Available furnished, this residence offers a turnkey opportunity to embrace your dream coastal lifestyle.
| |||
| Oct 15, 2024 | Sold | ||
| Sold | |||
| Sep 9, 2024 | In contract | - | |
| In contract | |||
Show More
Property Highlights
Parking Available
Interior Details
Level: Second
Features: Flooring - Laminate, Pantry, Countertops - Stone/Granite/Solid, Countertops - Upgraded, Cabinets - Upgraded, Recessed Lighting, Remodeled, Stainless Steel Appliances, Gas Stove
Level: Second
Features: Flooring - Laminate, Closet - Double
Features: Walk-In Closet(s), Flooring - Laminate
Level: Second
Level: Second
Features: Flooring - Laminate, Recessed Lighting
Full Bathrooms: 1
Interior Features: Pantry, Mud Room, Internet Available - Broadband
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Washer, Dryer, ENERGY STAR Qualified Refrigerator, Range Hood
Flooring Type: Tile, Laminate, Hardwood
Rooms: 4
Basement: Y
Parking Details
Parking Features: Off Street, Assigned, Stone/Gravel
Exterior Details
Entry Level: 2
Year Built Source: Public Records
Year Built Details: Unknown/Mixed
PropertySubType: Condominium
Structure Type: Low-Rise
Stories (Total): 1
Building Area Units: Square Feet
Construction Materials: Frame
Lead Paint: Unknown
Lot Size Area: 0.17
Lot Size Units: Acres
Lot Size Acres: 0.17
Zoning: RS-5
Parcel Number: 1894212
Water Source: Public
Financial Details
Tax Map Number: 15
Tax Assessed Value: $400,000
Tax Annual Amount: $3,892
Utilities Details
Cooling Type: None
Heating Type: Electric Baseboard
Sewer : Public Sewer
Location Details
HOA/Condo/Coop Fee Includes: Water, Sewer, Insurance, Snow Removal, Trash, Reserve Funds
Association Fee Frequency: Monthly
HOA Fee: $275
Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Conservation Area, Highway Access, House of Worship, Marina, Private School, Public School, T-Station, Other
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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