53 Folly Point Rd Lot 1
About This Property
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 29, 2023 | Sold | ||
| Sold | |||
| Apr 25, 2023 | In contract | - | |
| In contract | |||
| Jun 5, 2022 | Listed by LandVest, Inc., Manchester -by-the-Sea | $3,500,000 | |
| Listed by LandVest, Inc., Manchester -by-the-Sea | |||
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The only buildable, oceanfront parcel of land currently available for sale on the North Shore. Located in Gloucester’s Folly Cove on Folly Point Road with panoramic, bold ocean views towards Halibut Point State Park and Maine. This elevated, dramatic site features an approval not required (ANR) building lot at 1.19± acres . The city sewer and electricity are at located at the street. This beautiful oceanfront parcel of land is perched high above sea level; feel the breeze of the Atlantic Ocean while enjoying marine life and panoramic vistas. A once in a lifetime opportunity to build your dream house or family compound in this very private area on Cape Ann with unobstructed ocean views. Adjacent lot 2 also available for sale.
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017