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Gloucester 01930
8 Great Ledge Lane
$749,000
● Multifamily - Off Market

8 Great Ledge Lane

Gloucester, MA 01930
bedrooms
5 Beds
bathrooms
3 Baths
square feet
4,974 Ft²
$4,198
Est. Monthly
8.74%
Cap Rate

About This Property

Main house is a 3 level, 13 room,2 full bath home, with new roof,heating system,paint,2 car garage with 8 car off street parking. Beautifully done in being renovated, with gorgeous solarium and sunroom and much, much more. This second unit is a legal apartment which can be rented or used as an in law if wanted. Has a kitchen, living room combo with full bath and bedroom. Approximately 528 sq. ft. of living area. This unit has heat, hot water, and electric included. Vacant,rented at $900 a month.
Unit Size
4,974 Ft²
Days on Market
-
Land Size
2.07 acres
Price per sqft
$151
Property Type
Multifamily
Property Taxes
$520
HOA Dues
-
Year Built
1988

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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: 2 years ago (MLSPIN #71004618)

Price History

Date / Event Date Event Price
Jun 13, 2011 Sold
Premium
Sold
Nov 24, 2009 Listed $749,000
Listed

Property Highlights

Garage
Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1988
  • Effective Year Built: 1988
  • Building Count: 1
  • Total Rooms: 15
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 3
  • Partial Bathrooms: 3
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 31
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 2
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,738
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 90,605
  • Total Building Area: 3,140
  • Gross Building Area: 5,924
  • Building Area: 3,140
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 3,140
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Subdivision: GREAT LEDGE REALTY TRUST
  • Land Acres: 0000002080
  • Standard Land Use Code: 1101
  • County Land Use Code: 104

Neighborhood

  • School District Name: Gloucester School District
  • School Tax School District: GLOUCESTER SD
  • Census Tract: 221902

Zoning

  • Zoning: R-40

Geography

  • Parcel: GLOU M:0240 B:0076 L:0000
  • Block: 76
  • Municipality: GLOUCESTER
  • Latitude: 42.6315
  • Longitude: -70.7368

    Address

  • Full Address: 8 Great Ledge Ln
  • Address - House Number: 8
  • Address - Street Name: Great Ledge
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C010
  • 4-Digit Zip Code: 1560
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $956,300

    Appraisal Valuation

  • Standard Deviation: 0.1611
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 79
  • Final Value: 1,109,591
  • High Value: 1,288,362
  • Low Value: 930,820

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $982,800
  • Assessed Land Value: $209,000
  • Assessed Improvements Value: $773,800

    Sales

  • Current Sale Recording Date: Jun 13, 2011
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
  • Previous Sale Recording Date: May 27, 2011
  • Previous Sale Amount: $360,000
  • Previous 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:

$699,450

Sale Price/ft²

$443

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1941 ft²

Average Home Age

77 years

Currently For Sale

91 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

Click here to view more rentals in the neighborhood.
Last Updated: 2 years ago
Data Source: MLS PIN, MLS# 71004618

Frequently Asked Questions

When was property at 8 Great Ledge Lane built and last sold?
The property at 8 Great Ledge Lane was built in 1988 and last sold on Jan 1, 1970 for $475,000.
How much is this home worth?
The estimated value of the home located at 8 Great Ledge Lane is $0.
What are some comparable homes to 8 Great Ledge Lane?
There are currently no comparable homes to 8 Great Ledge Lane.
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