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Gloucester 01930
5 Salt Island Ln
$2,325,000
● House - Off Market

5 Salt Island Ln

Gloucester, MA 01930
bedrooms
7 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,954 Ft²
$4,670,984
RealtyHop Estimate
86.91%
Since Jun 1, 2014
National-US
Primary Model

About This Property

Once in a lifetime chance to own this spectacular, beachfront home on famous Good Harbor Beach, with private beach ownership. The large fireplaced living room and sunroom open onto an expansive deck overlooking the beach and Salt Island. This is a one of a kind, year-round sanctuary with stunning views and many outdoor living spaces, including a terrace on-the-rocks with steps to the beach and a sheltered patio bordered by gardens and a large, rolling lawn. Enjoy the ever changing scenery over the half-mile long beach and distant, rugged coastline from sunrise to sunset, capturing wonderful natural light and sea breezes. Walk-out basement with dressing rooms and shower. Seven bedrooms two and one half baths, providing a home for family living and entertaining on one of the most desired beaches on the Atlantic coast.
Unit Size
2,954 Ft²
Days on Market
-
Land Size
0.65 acres
Price per sqft
$846
Property Type
House
Property Taxes
$1,514
HOA Dues
-
Year Built
1929

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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 #71547487)

Price History

Date / Event Date Event Price
Aug 21, 2018 Sold
Premium
Sold
May 2, 2014 Sold
Premium
Sold
Jun 26, 2013 Listed by Coldwell Banker Residential Brokerage - Gloucester $2,499,000
Listed by Coldwell Banker Residential Brokerage - Gloucester

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1929
  • Effective Year Built: 1929
  • Building Count: 1
  • Bedroom Count: 7
  • Bathroom Count: 5
  • Full Bathrooms: 4
  • Partial Bathrooms: 5
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 12
  • 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: 1,913
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 9,290
  • Total Building Area: 3,027
  • Gross Building Area: 6,705
  • Building Area: 3,027
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 3,027
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000213
  • 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:0176 B:0063 L:0000
  • Block: 63
  • Municipality: GLOUCESTER
  • Latitude: 42.6217
  • Longitude: -70.6278

    Address

  • Full Address: 5 Salt Island Ln
  • Address - House Number: 5
  • Address - Street Name: Salt Island
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C008
  • 4-Digit Zip Code: 1941
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $3,823,500

    Appraisal Valuation

  • Standard Deviation: 0.1969
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 73
  • Final Value: 818,708
  • High Value: 979,955
  • Low Value: 657,461

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $3,929,600
  • Assessed Land Value: $2,692,200
  • Assessed Improvements Value: $1,237,400

    Sales

  • Current Sale Contract Date: Aug 20, 2018
  • Current Sale Recording Date: Aug 21, 2018
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 595309
  • Previous Sale Recording Date: May 02, 2014
  • Previous Sale Contract Date: Apr 29, 2014
  • Previous Sale Amount: $2,325,000
  • 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

$443

Below Asking

0.03%

Average Days on Market

56

Average Home Size

2017 ft²

Average Home Age

80.6 years

Currently For Sale

97 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# 71547487

Frequently Asked Questions

When was property at 5 Salt Island Lane built and last sold?
The property at 5 Salt Island Lane was built in 1929 and last sold on Aug 20, 2018 for $3,300,000.
How much is this home worth?
The estimated value of the home located at 5 Salt Island Lane is $2,512,291.
What are some comparable homes to 5 Salt Island Lane?
There are currently no comparable homes to 5 Salt Island Lane.
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