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Gloucester 01930
51 Farrington Avenue
$2,300,000
● House - Off Market

51 Farrington Avenue

Gloucester, MA 01930
bedrooms
5 Beds
bathrooms
3 Baths, 1 Half Bath
square feet
3,286 Ft²
$2,557,297
RealtyHop Estimate
18.94%
Since Jun 1, 2021
National-US
Primary Model

About This Property

LOCATION LOCATION LOCATION...A very special property with both Farrington Ave. and Brace Cove addresses!! This oversized Cape, coupled with two additional lots...***, is ideal for family gatherings and  entertaining. It offers unobstructed ocean views, a fireplaced great room with double french doors that open to a Columbian hardwood deck, an inground pool with pool house and bath, and a boardwalk to the beach! The kitchen is delightful, and the dining room leads to a formal living room with fireplace and a library/TV room The master bedroom suite includes a large walk-in  closet, a separate cedar closet, and master bath. This home was loved by the same family for many years... now you can make it your proud home, too!.........***53A Farrington Ave., 22 Brace Cove
Unit Size
3,286 Ft²
Days on Market
-
Land Size
2.17 acres
Price per sqft
$654
Property Type
House
Property Taxes
$1,387
HOA Dues
-
Year Built
1958

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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 years ago (MLSPIN #72799260)

Price History

Date / Event Date Event Price
May 12, 2021 Sold
Premium
Sold
Mar 17, 2021 Listed by Engel & Volkers By the Sea $2,150,000
Listed by Engel & Volkers By the Sea
Sep 13, 2018 Sold
Premium
Sold

Property Highlights

Air Conditioning
Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1958
  • Effective Year Built: 1958
  • Building Count: 1
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 4
  • 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: 1,444
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 47,480
  • Total Building Area: 3,286
  • Gross Building Area: 7,785
  • Building Area: 3,286
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 3,286
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000001090
  • 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: RC-40

Geography

  • Parcel: GLOU M:0134 B:0040 L:0000
  • Block: 40
  • Municipality: GLOUCESTER
  • Latitude: 42.5947
  • Longitude: -70.6474

    Address

  • Full Address: 51 Farrington Ave
  • Address - House Number: 51
  • Address - Street Name: Farrington
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C023
  • 4-Digit Zip Code: 4255
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $1,822,000

    Appraisal Valuation

  • Standard Deviation: 0.1593
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 80
  • Final Value: 2,243,494
  • High Value: 2,601,090
  • Low Value: 1,885,897

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $1,872,600
  • Assessed Land Value: $1,015,600
  • Assessed Improvements Value: $857,000

    Sales

  • Current Sale Contract Date: May 07, 2021
  • Current Sale Recording Date: May 12, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20210512000700
  • Previous Sale Recording Date: Sep 13, 2018
  • Previous Sale Amount: $1,725,000
  • 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:

$699,900

Sale Price/ft²

$443

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1919 ft²

Average Home Age

80.1 years

Currently For Sale

90 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 years ago
Data Source: MLS PIN, MLS# 72799260

Frequently Asked Questions

When was property at 51 Farrington Avenue built and last sold?
The property at 51 Farrington Avenue was built in 1958 and last sold on May 7, 2021 for $2,300,000.
How much is this home worth?
The estimated value of the home located at 51 Farrington Avenue is $0.
What are some comparable homes to 51 Farrington Avenue?
There are currently no comparable homes to 51 Farrington Avenue.
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