NOT LISTED FOR SALE

Estimated Value: $680,000 - $813,676

5 Beds
3 Baths
2,558 Sq Ft
$292/Sq Ft Est. Value

Last Sold June 29, 2022

Last sale price $740,000 $289 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $4,774/month

37 Days on Market

Highlights

  • Marina
  • Deck
  • Wood Flooring
  • Medical Services
  • Property is near public transit
  • Tennis Courts

About This Home

As of June 2022

Waterviews from this 3 Family fully leased investment property located just steps to beautiful Stacy Boulevard overlooking Gloucester Harbor! Consists of 2BR, 2 BR and 1 BR apts all in good condition. . Near 3 beaches, tennis courts, Beauport Hotel, Cape Ann Marina, Stage Fort Park and close to downtown. Current gross monthly income $4548. Rents below current market rate. All separate heat and electric. First floor has in unit laundry, common laundry for units 2 and 3 located in full basement. Plenty of on street parking available in neighborhood. SHOWN BY APPOINTMENT ONLY!

Last Agent to Sell the Property

Peter and Pam Lane

North Shore's Gold Coast Realty Listed on: 04/06/2022

Last Buyer's Agent

Chris Blasczak

Liberty Residential Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,684

Year Built

  • Built in 1865 | Remodeled

Lot Details

  • 2,038 Sq Ft Lot
  • Level Lot

Home Design

  • Triplex
  • Stone Foundation
  • Frame Construction
  • Shingle Roof

Interior Spaces

  • 2,558 Sq Ft Home
  • Insulated Doors
  • Dishwasher

Flooring

  • Wood
  • Pine Flooring
  • Laminate

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 3 Full Bathrooms

Laundry

  • Dryer
  • Washer

Basement

  • Basement Fills Entire Space Under The House
  • Interior Basement Entry
  • Block Basement Construction

Parking

  • On-Street Parking
  • Open Parking

Outdoor Features

  • Deck
  • Patio
  • Porch

Location

  • Property is near public transit

Schools

  • O'maley Middle School
  • Gloucester High School

Utilities

  • No Cooling
  • Heating Available
  • Separate Meters
  • 100 Amp Service
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $4,548
  • Rent includes unit 1(water), unit 2(water), unit 3(water)
  • Tax Lot 67
  • Assessor Parcel Number 1893509

Community Details

Overview

  • 3 Units
  • Property has 1 Level

Amenities

  • Medical Services
  • Shops

Recreation

  • Marina
  • Tennis Courts
  • Park
  • Jogging Path

Building Details

  • Insurance Expense $3,513
  • Water Sewer Expense $1,670
  • Operating Expense $5,350
  • Net Operating Income $49,226

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,684

Year Built

Built in 1865 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 3 Family - 3 Units Up/Down
  • Property Condition: Unit 3 Remodeled
  • Year Built: 1865
  • Buyer Agency: 2
  • Buyer Agency Type: %
  • Transaction Broker: 2
  • Transaction Broker Type: %
  • Year Built Details: Approximate,Renovated Since
  • SUB AGENCY OFFERED: No
  • Year Round: Yes
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Stories: 6

Interior Features

  • Flooring: Wood,Hardwood,Pine,Wood Laminate, Unit 1(undefined), Unit 2(Hardwood Floors,Wood Flooring), Unit 3(Hardwood Floors)
  • Interior Amenities: Unit 1(Stone/Granite/Solid Counters,Bathroom With Tub & Shower,Slider), Unit 2(Bathroom With Tub & Shower,Slider), Unit 3(Cathedral/Vaulted Ceilings,Stone/Granite/Solid Counters,Upgraded Cabinets,Upgraded Countertops,Bathroom With Tub & Shower,Open Floor Plan), Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Living Room,Kitchen)
  • Door Features: Insulated Doors
  • Fireplace YN: No
  • Appliances: Washer, Dryer, Unit 1(Range,Dishwasher,Refrigerator,Washer,Dryer), Unit 2(Range,Dishwasher,Refrigerator), Unit 3(Range,Dishwasher,Refrigerator), Gas Water Heater,Electric Water Heater,Tank Water Heater
  • Total Bedrooms: 5
  • Full Bathrooms: 3
  • Total Bathrooms: 3
  • Total Bathrooms: 3
  • Basement: Full, Interior Entry, Concrete
  • Living Area: 2558
  • Stories Total: 6
  • MAIN LO: C95247
  • LIST PRICE PER Sq Ft: 292.81
  • PRICE PER Sq Ft: 289.29
  • MAIN SO: AN0224

Exterior Features

  • Exterior Features: Unit 1 Balcony/Deck, Unit 2 Balcony/Deck
  • Construction Materials: Frame
  • Foundation Details: Stone
  • Home Warranty YN: No
  • Patio And Porch Features: Porch, Deck, Deck - Wood, Patio
  • Road Frontage Type: Public
  • Road Surface Type: Paved
  • Roof: Shingle
  • Waterfront Features: Beach Front, Harbor, 1/10 to 3/10 To Beach, Beach Ownership(Public)
  • Waterfront YN: No

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: On Street

Utilities

  • Sewer: Public Sewer
  • Cooling: Unit 1(None), Unit 2(None), Unit 3(None)
  • Heating: Unit 1(Forced Air,Gas,Individual,Unit Control), Unit 2(Forced Air,Oil), Unit 3(Electric Baseboard,Unit Control)
  • Cooling Y N: No
  • Electric: Circuit Breakers, 100 Amp Service, Individually Metered
  • Heating YN: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Tennis Court(s), Park, Walk/Jog Trails, Medical Facility, Highway Access, Marina, T-Station, Sidewalks
  • Rent Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water)
  • Senior Community YN: No

Fee Information

  • Water Sewer Expenses: 1670

Lot Info

  • Parcel Number: 1893509
  • Zoning: R5
  • Farm Land Area Units: Square Feet
  • Lot Features: Level
  • Lot Size Acres: 0.05
  • Lot Size Area: 0.05
  • Lot Size Sq Ft: 2038
  • Lot Size Units: Acres
  • PAGE: 0

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 5684.36
  • Tax Book Number: 0
  • Tax Lot: 67
  • Tax Map Number: 3

Multi Family

  • Gross Income: 54576
  • Insurance Expense: 3513
  • Net Operating Income: 49226
  • Number Of Units Total: 3
  • Operating Expense: 5350
  • Total Actual Rent: 4548
  • LEVELS 1: 1
  • Basement Included Sq Ft: No
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 3: Y
  • LEASE 2: Y
  • LEASE 1: Y
  • FLRS 1: 1
  • FLRS 3: 3
  • FLRS 2: 2

MLS Schools

  • High School: Gloucester
  • Middle Or Junior School: O'maley

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 5, 2018
Closed on
Aug 17, 2018
Sold by
Willows Rt
Bought by
187 East Main Street L
Seller's Agent
Ruth Pino
RE/MAX Beacon
Buyer's Agent
Peter and Pam Lane
North Shore's Gold Coast Realty
List Price
$468,000
Sold Price
$480,000
Premium/Discount to List
$12,000
2.56%
Current Estimated Value
$777,276

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$297,276
Avg. Annual Appreciation
7.49%
Original Mortgage
$417,000
Interest Rate
4.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 18, 2010
Sold by
Berkman Carol L
Bought by
Willows Rt

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,000
Interest Rate
5.05%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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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
187 East Main Street L $480,000 --
Willows Rt $305,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 187 East Main St Llc $437,500
Closed 187 East Main Street L $417,000
Previous Owner Willows Rt $206,000
Previous Owner Willows Rt $215,000
Previous Owner Berkman Carol L $10,000
Previous Owner Berkman Alma D $205,500
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/29/2022 06/29/22 Sold $740,000 -1.2% $289 / Sq Ft
05/14/2022 05/14/22 Pending -- -- --
05/13/2022 05/13/22 For Sale $749,000 0.0% $293 / Sq Ft
04/26/2022 04/26/22 Pending -- -- --
04/21/2022 04/21/22 For Sale $749,000 0.0% $293 / Sq Ft
04/19/2022 04/19/22 Pending -- -- --
04/14/2022 04/14/22 Price Changed $749,000 -11.8% $293 / Sq Ft
04/06/2022 04/06/22 For Sale $849,000 +76.9% $332 / Sq Ft
08/17/2018 08/17/18 Sold $480,000 +2.6% $188 / Sq Ft
07/11/2018 07/11/18 Pending -- -- --
07/05/2018 07/05/18 For Sale $468,000 -- $183 / 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 $6,219 $639,200 $141,400 $497,800
2024 $6,219 $639,200 $141,400 $497,800
2023 $6,311 $595,900 $109,800 $486,100
2022 $5,684 $484,600 $95,500 $389,100
2021 $5,500 $442,100 $86,800 $355,300
2020 $5,201 $421,800 $86,800 $335,000
2019 $4,579 $360,800 $86,800 $274,000
2018 $4,391 $339,600 $86,800 $252,800
2017 $4,230 $320,700 $82,700 $238,000
2016 $3,954 $290,500 $86,300 $204,200
2015 $3,879 $284,200 $86,300 $197,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72962830

MLS Property Information Network (MLS PIN)

APN: GLOU-000003-000067