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Gloucester 01930
8 Old Farm Ln
$505,000
● House - Off Market

8 Old Farm Ln

Gloucester, MA 01930
bedrooms
5 Beds
bathrooms
3 Baths
square feet
2,162 Ft²
$731,661
RealtyHop Estimate
46.63%
Since Sep 1, 2019
National-US
Primary Model

About This Property

Priced for a quick sale!  Converted barn offers views of Ipswich Bay and Crane's Beach! 4-5 bedrooms, large 3rd floor with balconies on both ends offers potential for master bedroom suite or rec room. Several oceanview decks, 2 car garage with spacious adjacent workshop is ideal for contractors, lobstermen or additional family room or bedroom.  In need of renovation but well worth it as neighbors house sold last year for $850,000.
Unit Size
2,162 Ft²
Days on Market
-
Land Size
0.30 acres
Price per sqft
$231
Property Type
House
Property Taxes
$617
HOA Dues
-
Year Built
1976

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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: 4 months ago (MLSPIN #72529556)

Price History

Date / Event Date Event Price
Aug 30, 2019 Sold
Premium
Sold
Jul 5, 2019 Listed by Churchill Properties $499,000
Listed by Churchill Properties
Jan 29, 2009 Sold
Premium
Sold
Jan 5, 2009 Listed by Churchill Properties $340,000
Listed by Churchill Properties
Jun 15, 1999 Sold
Premium
Sold
Show More

Property Highlights

Garage
Parking Available

Building Info

Overview

    General

  • Year Built: 1976
  • Effective Year Built: 1976
  • Building Count: 1
  • Bedroom Count: 5
  • 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: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 438
  • Garage Type: 7
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 12,855
  • Total Building Area: 2,662
  • Gross Building Area: 5,162
  • Building Area: 2,662
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 10
  • Heated Square Feet: 2,662
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000295
  • 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: 221100

Zoning

  • Zoning: R-20

Geography

  • District: 107
  • Parcel: GLOU M:0143 B:0064 L:0000
  • Block: 64
  • Municipality: GLOUCESTER
  • Latitude: 42.6799
  • Longitude: -70.6561

    Address

  • Full Address: 8 Old Farm Ln
  • Address - House Number: 8
  • Address - Street Name: Old Farm
  • Address - Suffix Type: Ln
  • State: MA
  • City Name: Gloucester
  • Carrier Code: C020
  • 4-Digit Zip Code: 1173
  • Zip Code: 01930

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $947,100

    Appraisal Valuation

  • Standard Deviation: 0.1593
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 80
  • Final Value: 951,002
  • High Value: 1,102,499
  • Low Value: 799,505

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $973,400
  • Assessed Land Value: $281,900
  • Assessed Improvements Value: $691,500

    Sales

  • Current Sale Contract Date: Aug 30, 2019
  • Current Sale Recording Date: Aug 30, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20190830006680
  • Previous Sale Recording Date: Jan 29, 2009
  • Previous Sale Amount: $330,000
  • 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:

$699,900

Sale Price/ft²

$443

Below Asking

0.02%

Average Days on Market

56

Average Home Size

1913 ft²

Average Home Age

81.9 years

Currently For Sale

88 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# 72529556

Frequently Asked Questions

When was property at 8 Old Farm Lane built and last sold?
The property at 8 Old Farm Lane was built in 1976 and last sold on Aug 30, 2019 for $505,000.
How much is this home worth?
The estimated value of the home located at 8 Old Farm Lane is $493,926.
What are some comparable homes to 8 Old Farm Lane?
There are currently no comparable homes to 8 Old Farm Lane.
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