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Gloucester 01930
8 Glenmere Way
$640,000
● House - Off Market

8 Glenmere Way

Gloucester, MA 01930
bedrooms
6 Beds
bathrooms
3 Baths
square feet
4,130 Ft²
$4,465
Est. Monthly

About This Property

CHANGE IN BUYER CIRCUMSTANCES COULD BE YOUR GOLDEN OPPORTUNITY!  This CONTRACTOR SPECIAL  is  priced nearly $400,000 below its assessed value and offers a number of possibilities for future use. Best described as a diamond-in the rough, off-the-beaten track, 4,100 sq ft carriage house on .85 acres,  ready for a new owner to restore it to its former glory or develop it into something new. Set on a dead-end street  just steps to the the Annisquam River with waterfront and dock access via the Wolf Hill HOA. Six bedrooms, three bathrooms, multiple living rooms and two stairways offer potential for townhome reconfiguration, a multi-generational compound or a live/work from home complex where studio or workshop space might be needed. SOLD 'AS IS'.
Unit Size
4,130 Ft²
Days on Market
-
Land Size
0.84 acres
Price per sqft
$169
Property Type
House
Property Taxes
$1,033
HOA Dues
-
Year Built
1957

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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 #73154934)

Price History

Date / Event Date Event Price
Aug 13, 2024 Sold
Premium
Sold
Dec 17, 2023 In contract -
In contract
Dec 5, 2023 Relisted $699,000
Relisted
Oct 5, 2023 In contract -
In contract
Sep 5, 2023 Listed by Advisors Living - Gloucester $699,000
Listed by Advisors Living - Gloucester
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Property Highlights

Parking Available
Air Conditioning
Fireplace

Building Info

Overview

    General

  • Year Built: 1957
  • Effective Year Built: 1957
  • Building Count: 1
  • Bedroom Count: 6
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • 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: 9
  • Basement Area: 1,449
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,060
  • Total Building Area: 4,218
  • Gross Building Area: 6,507
  • Building Area: 4,218
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 4,218
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000277
  • 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: 221800

Zoning

  • Zoning: R-20

Geography

  • Parcel: GLOU M:0089 B:0009 L:0000
  • Block: 9
  • Municipality: GLOUCESTER
  • Latitude: 42.624
  • Longitude: -70.6852

    Address

  • Full Address: 8 Glenmere Way
  • Address - House Number: 8
  • Address - Street Name: Glenmere
  • Address - Suffix Type: Way
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C029
  • 4-Digit Zip Code: 2534
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $839,900

    Appraisal Valuation

  • Standard Deviation: 0.0799
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 94
  • Final Value: 720,034
  • High Value: 777,571
  • Low Value: 662,498

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $863,200
  • Assessed Land Value: $241,900
  • Assessed Improvements Value: $621,300

    Sales

  • Current Sale Recording Date: Mar 03, 2003
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
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

1906 ft²

Average Home Age

79.6 years

Currently For Sale

89 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: 4 months ago
Data Source: MLS PIN, MLS# 73154934

Frequently Asked Questions

When was property at 8 Glenmere Way built and last sold?
The property at 8 Glenmere Way was built in 1957 and last sold on Jan 1, 1970 for $320,000.
How much is this home worth?
The estimated value of the home located at 8 Glenmere Way is $705,990.
What are some comparable homes to 8 Glenmere Way?
There are currently no comparable homes to 8 Glenmere Way.
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