62 Eastern Point Road #3
About This Property
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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%.
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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.
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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 |
|---|---|---|---|
| Dec 22, 2025 | Sold | ||
| Sold | |||
| Nov 13, 2025 | In contract | - | |
| In contract | |||
| Nov 5, 2025 | Listed by LandVest, Inc., Ipswich | $550,000 | |
| Listed by LandVest, Inc., Ipswich | |||
| |||
|
Just steps from Niles Beach, this charming two-bedroom condo offers year-round views of the Atlantic Ocean, Gloucester Harbor, and the Boston skyline. Whether you're looking for a year-round residence, a weekend retreat, or a summer escape, this sweet coastal condo has it all. The sunny interior features newly refinished wood floors, an open-concept layout, and seamless indoor-outdoor living with both a private deck and balcony. The updated kitchen boasts warm wood cabinetry, stainless steel appliances, granite countertops, and a convenient half wall opening to the dining area. The spacious living room is perfect for relaxing and taking in views, whether from inside or the rear deck. Upstairs, two generous bedrooms each open to a large shared balcony overlooking Niles Beach and beyond. Additional highlights include in-unit laundry, two assigned parking spaces, storage, and unbeatable proximity to the beach. Recent upgrades to the condo association include new roofs and exterior paint.
| |||
| Sep 27, 2013 | Sold | ||
| Sold | |||
| May 24, 2013 | Listed by Premier Realty Group, Inc. | $309,000 | |
| Listed by Premier Realty Group, Inc. | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
11/05/2025
|
2 Bed
|
1 Bath
|
937 ft²
|
$550,000
2 Bed
1 Bath
937 ft²
|
$550,000
12/22/2025
|
Monahan Barker Team
LandVest, Inc., Ipswich
| |
|
05/03/2021
|
2 Bed
|
2 Bath
|
892 ft²
|
$449,500
2 Bed
2 Bath
892 ft²
|
$465,000
+3.45%
06/28/2021
|
The Murray Brown Group
Sagan Harborside Sotheby's International Realty
| |
|
05/18/2017
|
3 Bed
|
2 Bath
|
1263 ft²
|
$439,000
3 Bed
2 Bath
1263 ft²
|
$432,000
-1.59%
06/30/2017
|
Rick Petralia
Churchill Properties
| |
|
11/14/2013
|
2 Bed
|
2 Bath
|
892 ft²
|
$309,000
2 Bed
2 Bath
892 ft²
|
$290,000
-6.15%
01/24/2014
|
Robin Martyn
Churchill Properties
| |
|
07/13/2013
|
2 Bed
|
1 Bath
|
937 ft²
|
$295,000
2 Bed
1 Bath
937 ft²
|
$290,000
-1.69%
12/30/2013
|
Ron Goulart & Jennifer Anderson
RE/MAX Advantage Real Estate
| |
|
05/24/2013
|
2 Bed
|
1 Bath
|
937 ft²
|
$309,000
2 Bed
1 Bath
937 ft²
|
$290,000
-6.15%
09/27/2013
|
Lauretta Raffi
Premier Realty Group, Inc.
| |
|
06/13/2012
| |
Loft
|
-
|
9610 ft²
|
$975,000
Loft
-
9610 ft²
|
$875,000
-10.26%
11/07/2012
|
Richard Cooper
Sagan Harborside Sotheby's International Realty
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017