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Gloucester 01930
8 Island Rock
$1,850,000
● House - Off Market

8 Island Rock

Gloucester, MA 01930
bedrooms
5 Beds
bathrooms
2 Baths
square feet
2,242 Ft²
$2,927,665
RealtyHop Estimate
46.75%
Since Aug 1, 2019
National-US
Primary Model

About This Property

8 Island Rock Lane overlooks Gloucester's outer harbor where the sunsets are nothing short of spectacular and views of the coastline keep one riveted. Built atop a granite outcropping in 1912, this quintessential summer home is incomparable. Open airy rooms, hardwood floors throughout, and the most fabulous wrap around porch (all 4 sides!) allowing for outside enjoyment no matter what the weather, complete the charm of this summer paradise. If enjoying a sandy beach is your pleasure, lovely Niles Beach is a stone's throw away. Walk to Rocky Neck, Eastern Point, and all within a 1 hr drive to Boston! Breezy and Beautiful!  Recently, this home received an exemption from FEMA due to its elevation - a rarity for oceanfront property!
Unit Size
2,242 Ft²
Days on Market
-
Land Size
0.53 acres
Price per sqft
$890
Property Type
House
Property Taxes
$1,386
HOA Dues
-
Year Built
1912

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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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.

Last updated: 5 months ago (MLSPIN #72388495)

Price History

Date / Event Date Event Price
Jul 1, 2019 Sold
Premium
Sold
Sep 5, 2018 Listed by Engel & Volkers By the Sea $1,995,000
Listed by Engel & Volkers By the Sea

Property Highlights

Parking Available
Fireplace

Building Info

Overview

    General

  • Year Built: 1912
  • Effective Year Built: 1912
  • Building Count: 1
  • Bedroom Count: 5
  • Bathroom Count: 6
  • Full Bathrooms: 4
  • Partial Bathrooms: 6
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 0
  • Building Style: 5
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 13
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 0
  • Basement Area: 0
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 23,258
  • Total Building Area: 2,460
  • Gross Building Area: 4,356
  • Building Area: 2,460
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 2,460
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000534
  • 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-10

Geography

  • Parcel: GLOU M:0133 B:0021 L:0000
  • Block: 21
  • Municipality: GLOUCESTER
  • Latitude: 42.5989
  • Longitude: -70.6568

    Address

  • Full Address: 8 Island Rock Ln
  • Address - House Number: 8
  • Address - Street Name: Island Rock
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C023
  • 4-Digit Zip Code: 4166
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $2,554,400

    Appraisal Valuation

  • Standard Deviation: 0.1593
  • Valuation Date: Jan 17, 2024
  • Confidence Score: 80
  • Final Value: 2,614,087
  • High Value: 3,030,753
  • Low Value: 2,197,421

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $2,625,300
  • Assessed Land Value: $1,643,200
  • Assessed Improvements Value: $982,100

    Sales

  • Current Sale Contract Date: Jul 01, 2019
  • Current Sale Recording Date: Jul 01, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20190701002540
  • Previous Sale Recording Date: Apr 11, 2014
  • 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:

$699,000

Sale Price/ft²

$448

Below Asking

0.03%

Average Days on Market

56

Average Home Size

1962 ft²

Average Home Age

84 years

Currently For Sale

92 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: 5 months ago
Data Source: MLS PIN, MLS# 72388495

Frequently Asked Questions

When was property at 8 Island Rock Lane built and last sold?
The property at 8 Island Rock Lane was built in 1912 and last sold on Jul 1, 2019 for $1,850,000.
How much is this home worth?
The estimated value of the home located at 8 Island Rock Lane is $2,004,734.
What are some comparable homes to 8 Island Rock Lane?
There are currently no comparable homes to 8 Island Rock Lane.
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