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Gloucester 01930
7 Michaels Ln
Photo of 7 Michaels Ln
Sold on May 17, 2007

1

Map

$563,900
● House - Off Market

7 Michaels Ln

Gloucester, MA 01930
bedrooms
4 Beds
bathrooms
2 Baths, 1 Half Bath
square feet
2,340 Ft²
$975,272
RealtyHop Estimate
71.13%
Since Jun 1, 2007
National-US
Primary Model

About This Property

Like new 4 BR 2.5 Bath Colonial in move in condition & priced 19K below assessed value. Built in 2001 the house has all the extras including; s.steel appliances, maple kitchen cabinets, hardwood floors, decorator mantel, two tray ceilings, designer tile, central vac., outdoor jacuzzi, super store water heater, window treatments & fenced yard. Located on a private cul-de-sac, the home has a wonderful farmer's porch & sits on an acre lot. Walking dist.to back shore,Rocky Neck area & Nile beach.
Unit Size
2,340 Ft²
Days on Market
-
Land Size
1.00 acres
Price per sqft
$244
Property Type
House
Property Taxes
$430
HOA Dues
-
Year Built
2001

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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: 4 months ago (MLSPIN #70500318)

Price History

Date / Event Date Event Price
Jun 28, 2021 Sold
Premium
Sold
Apr 28, 2021 Listed $989,000
Listed
Aug 21, 2012 Sold
Premium
Sold
May 15, 2012 Listed $539,000
Listed
May 17, 2007 Sold
Premium
Sold
Show More

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 2001
  • Effective Year Built: 2001
  • 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: 5
  • Exterior Walls Type: 19
  • 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: 1,170
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 43,665
  • Total Building Area: 2,340
  • Gross Building Area: 4,819
  • Building Area: 2,340
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 2,340
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000001002
  • 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-20

Geography

  • Parcel: GLOU M:0076 B:0137 L:0000
  • Block: 137
  • Municipality: GLOUCESTER
  • Latitude: 42.5993
  • Longitude: -70.6428

    Address

  • Full Address: 7 Michaels Ln
  • Address - House Number: 7
  • Address - Street Name: Michaels
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C016
  • 4-Digit Zip Code: 4261
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $913,600

    Appraisal Valuation

  • Standard Deviation: 0.1593
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 80
  • Final Value: 1,062,874
  • High Value: 1,232,288
  • Low Value: 893,460

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $939,000
  • Assessed Land Value: $290,400
  • Assessed Improvements Value: $648,600

    Sales

  • Current Sale Contract Date: Jun 28, 2021
  • Current Sale Recording Date: Jun 28, 2021
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 626671
  • Previous Sale Recording Date: Aug 21, 2012
  • Previous Sale Amount: $520,000
  • 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

Rentals Near You

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 70500318

Frequently Asked Questions

When was property at 7 Michael's Lane built and last sold?
The property at 7 Michael's Lane was built in 2001 and last sold on Jun 28, 2021 for $941,000.
How much is this home worth?
The estimated value of the home located at 7 Michael's Lane is $985,356.
What are some comparable homes to 7 Michael's Lane?
There are currently no comparable homes to 7 Michael's Lane.
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