NOT LISTED FOR SALE

29 Commercial St Marblehead, MA 01945

Estimated Value: $828,238 - $934,000

4 Beds
2 Baths
1,671 Sq Ft
$515/Sq Ft Est. Value

Last Sold May 12, 2022

Last sale price $711,000 $425 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $5,273/month

Highlights

  • Waterfront
  • Deck
  • Laundry Room
  • Marblehead High School Rated A
  • Park
  • 3-minute walk to Hammond Park

About This Home

As of May 2022

Investment opportunity: Ship yard area 2 family, close to center of town. Plenty of parking, private backyard, decks. Perfect owner occupied or investment property with big upside potential. Harvey windows, updated electric, gas furnace. Projected rents return yields 6.4% cap rate. *Units are vacant: Rental figures are approx.Property subject to license to sell. Subject to license to sell. Offers taken up until signing of purchase and sales agreement. 2/17

Last Agent to Sell the Property

Sean Gildea

Sagan Harborside Sotheby's International Realty Listed on: 02/01/2022

Co-Listed By

Jodi Gildea

Sagan Harborside Sotheby's International Realty

Last Buyer's Agent

Sean Gildea

Sagan Harborside Sotheby's International Realty Listed on: 02/01/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,528

Year Built

  • Built in 1800

Lot Details

  • 4,792 Sq Ft Lot
  • Waterfront
  • Level Lot

Home Design

  • Duplex
  • Block Foundation
  • Stone Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 1,671 Sq Ft Home
  • Property has 1 Level
  • Insulated Windows
  • Laundry Room

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Basement

  • Basement Fills Entire Space Under The House
  • Sump Pump

Parking

  • 4 Car Parking Spaces
  • Off-Street Parking

Outdoor Features

  • Deck

Schools

  • Public Elementary And Middle School
  • Marblehead High School

Utilities

  • 2 Heating Zones
  • 110 Volts
  • 100 Amp Service
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $4,200
  • Assessor Parcel Number 2023774

Community Details

Recreation

  • Park

Additional Features

  • 2 Units
  • Net Operating Income $45,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,528

Year Built

Built in 1800

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 2 Family - 2 Units Up/Down
  • Year Built: 1800
  • Buyer Agency: 2.5%
  • Buyer Agency Type: %
  • Transaction Broker: 1%
  • Transaction Broker Type: %
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Stories: 3

Interior Features

  • Interior Amenities: Unit 1 Rooms(Living Room,Dining Room,Kitchen,Mudroom), Unit 2 Rooms(Living Room,Kitchen)
  • Fireplace YN: No
  • Appliances: Unit 1(Range,Refrigerator), Unit 2(Range,Refrigerator), Gas Water Heater
  • Total Bedrooms: 4
  • Full Bathrooms: 2
  • Total Bathrooms: 2
  • Total Bathrooms: 2
  • Laundry Features: Laundry Room
  • Basement: Full, Sump Pump
  • Living Area: 1671
  • Stories Total: 3
  • Window Features: Insulated Windows
  • MAIN LO: AN4471
  • LIST PRICE PER Sq Ft: 418.31
  • PRICE PER Sq Ft: 425.49
  • MAIN SO: AN4471

Exterior Features

  • Construction Materials: Frame
  • Foundation Details: Block, Stone
  • Patio And Porch Features: Deck, Deck - Wood
  • Road Frontage Type: Public
  • Roof: Shingle
  • Waterfront Features: Beach Front, Ocean, 3/10 to 1/2 Mile To Beach, Beach Ownership(Public)
  • Waterfront YN: Yes

Garage/Parking

  • Garage YN: No
  • Parking Features: Off Street
  • Total Parking Spaces: 4

Utilities

  • Sewer: Public Sewer
  • Electric: 110 Volts, 100 Amp Service
  • Water Source: Public
  • HEAT UNITS: 1
  • HEAT ZONES: 2
  • COOLING ZONES: 0

Condo/Co-op/Association

  • Community Features: Park

Lot Info

  • Parcel Number: 2023774
  • Zoning: GR
  • Farm Land Area Units: Square Feet
  • Lot Features: Level
  • Lot Size Acres: 0.11
  • Lot Size Area: 0.11
  • Lot Size Sq Ft: 4791.6
  • Lot Size Units: Acres
  • LOT SIZE: 4700
  • PAGE: 436

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 5527.81
  • Tax Book Number: 9452

Multi Family

  • Gross Income: 50400
  • Net Operating Income: 45000
  • Number Of Units Total: 2
  • Total Actual Rent: 4200
  • LEVELS 1: 1
  • LEVELS 2: 1
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 2: 2

MLS Schools

  • High School: Marblehead
  • Elementary School: Public
  • Middle Or Junior School: Public

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 17, 2022
Sold by
Kearney Alexia and Kearney Michael
Bought by
Coastal Guest House Llc
Current Estimated Value
$860,560

Purchase Details

Listed on
Feb 1, 2022
Closed on
May 11, 2022
Sold by
Lynch Daniel J Jr Est
Bought by
Kearney Alexia and Kearney Michael
Seller's Agent
Sean Gildea
Sagan Harborside Sotheby's International Realty
Buyer's Agent
Sean Gildea
Sagan Harborside Sotheby's International Realty
List Price
$699,000
Sold Price
$711,000
Premium/Discount to List
$12,000
1.72%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.11%
Original Mortgage
$568,000
Interest Rate
5%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Coastal Guest House Llc -- None Available
Kearney Alexia $711,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Kearney Alexia $568,000
Previous Owner Lynch Daniel J $628,500
Previous Owner Lynch Daniel J $50,000
Previous Owner Lynch Daniel J $190,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/12/2022 05/12/22 Sold $711,000 +1.7% $425 / Sq Ft
02/02/2022 02/02/22 Pending -- -- --
02/01/2022 02/01/22 For Sale $699,000 -- $418 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,447 $822,900 $512,800 $310,100
2024 $7,735 $863,300 $558,400 $304,900
2023 $6,416 $641,600 $433,000 $208,600
2022 $6,017 $572,000 $370,300 $201,700
2021 $5,528 $530,500 $330,500 $200,000
2020 $5,785 $556,800 $376,000 $180,800
2019 $5,369 $499,900 $319,100 $180,800
2018 $5,383 $488,500 $307,700 $180,800
2017 $5,127 $465,700 $284,900 $180,800
2016 $4,609 $415,200 $262,100 $153,100
2015 $4,474 $403,800 $250,700 $153,100
2014 $4,178 $376,700 $227,900 $148,800
Source: Public Records

Agents Affiliated with this Home

  • Sean Gildea

    Seller's Agent in 2022

    Sean Gildea

    Sagan Harborside Sotheby's International Realty

    (781) 775-5785

    19 in this area

    37 Total Sales

    Sean Gildea
    Section Image

  • J

    Seller Co-Listing Agent in 2022

    Jodi Gildea

    Sagan Harborside Sotheby's International Realty

    (781) 775-5784

    14 in this area

    29 Total Sales

    Jodi Gildea
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72938418

MLS Property Information Network (MLS PIN)

APN: MARB-000114-000008

Massachusetts Essex County Marblehead 01945

29 Commercial St, Marblehead, MA

This home is located at 29 Commercial St, Marblehead, MA 01945 since 01 February 2022 and is currently estimated at $860,560, approximately $514 per square foot. This property was built in 1800. 29 Commercial St is a home located in Essex County with nearby schools including Marblehead High School, Marblehead Community Charter Public School, and Devereux School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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