NOT LISTED FOR SALE

Estimated Value: $746,225 - $838,000

7 Beds
3 Baths
2,547 Sq Ft
$309/Sq Ft Est. Value

Last Sold October 29, 2021

Last sale price $650,000 $255 Per Sq Ft

Est. 21% increase in value since last sale

Current estimated payment $4,884/month

6 Days on Market

About This Home

As of October 2021

Well-maintained 3 family in Gloucester! Unit one offers three bedrooms one bath, unit two offers two bedrooms one bath and unit three features two bedrooms one bath. Good size common area in basement with washer & dryer hookups and individual designated storage space per unit. Driveway with off-street parking for 5 vehicles. Rents are below market value and plenty of room for additional income. Close to downtown Gloucester, shops, restaurants and waterfront. Easy access to Rt 128 and MBTA. Wonderful opportunity to purchase a cash flowing asset for an investor or owner-occupied while renting out the other units.

Last Listed By

Salvatore Dimercurio

Keller Williams Realty Evolution Listed on: 09/14/2021

Keller Williams Realty Evolution

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,835

Year Built

  • 1900

Lot Details

  • 3,920

Interior Spaces

  • Property has 1 Level

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,835

Year Built

1900

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • Directions: GPS
  • Garage Yn: No
  • Road Frontage Type: Public
  • Year Built Details: Approximate
  • Special Features: None
  • Year Built: 1900

Interior Features

  • Appliances: Unit 1(Range,Refrigerator), Unit 2(Range,Refrigerator), Unit 3(Range,Refrigerator), Gas Water Heater
  • Has Basement: Full, Interior Entry, Concrete
  • Total Bathrooms: 3
  • MAIN LO: C95098
  • LIST PRICE PER Sq Ft: 235.53
  • PRICE PER Sq Ft: 255.2
  • MAIN SO: AC1991
  • Full Bathrooms: 3
  • Total Bedrooms: 7
  • Fireplace: No
  • Interior Amenities: Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Living Room,Kitchen)
  • Stories: 6

Exterior Features

  • Roof: Shingle
  • Foundation Details: Brick/Mortar
  • Disclosures: 3rd Bedroom In Unit #1 Does Not Have A Closet.
  • Exclusions: Washer & Dryers In Basement Are Tenants And Are Not Included.
  • Waterfront Features: Beach Front, Ocean, 0 to 1/10 Mile To Beach
  • Waterfront: Yes

Garage/Parking

  • Parking Features: Paved Drive, Off Street
  • Open Parking: Yes
  • Total Parking Spaces: 5

Utilities

  • Cooling: Unit 1(None), Unit 2(None), Unit 3(None)
  • Heating: Unit 1(Gas), Unit 2(Gas), Unit 3(Electric)
  • Cooling Y N: No
  • Electric: Circuit Breakers
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Shopping, Park, Walk/Jog Trails, Golf, Medical Facility, Laundromat, Highway Access, Marina, Public School
  • HOA Rent Includes: Unit 1(Water), Unit 2(Water), Unit 3(Water)

Lot Info

  • LOT SIZE: 3880
  • PAGE: 252
  • Farm Land Area Units: Square Feet
  • Lot Size Sq Ft: 3920.399999
  • Zoning: R-5

Multi Family

  • LEVELS 1: 1
  • LEVELS 2: 1
  • LEVELS 3: 1
  • LEASE 3: N
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 1: 1
  • FLRS 3: 3
  • FLRS 2: 2
  • Annual Gross Income: 52200
  • Property Net Operating Income: 52200
  • Number Of Units Total: 3
  • Total Actual Rent: 4350

Tax Info

  • Tax Annual Amount: 5281
  • Tax Book Number: 24194
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 14, 2021
Closed on
Oct 29, 2021
Sold by
Zappa Peter and Zappa Vincenza
Bought by
Gurung Chet and Gurung Dikshya
Seller's Agent
Salvatore Dimercurio
Keller Williams Realty Evolution
Buyer's Agent
Kevin Farrar
Atlantic Coast Homes,Inc
List Price
$599,900
Sold Price
$650,000
Premium/Discount to List
$50,100
8.35%
Total Days on Market
6
Current Estimated Value
$785,806

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$135,806
Avg. Annual Appreciation
5.44%
Original Mortgage
$487,500
Outstanding Balance
$450,302
Interest Rate
2.8%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$335,504

Purchase Details

Closed on
Apr 20, 2005
Sold by
Verga Anthony J and Verga Peter G
Bought by
Zappa Peter

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$328,000
Interest Rate
5.87%
Mortgage Type
Purchase Money Mortgage

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
Gurung Chet $650,000 None Available
Zappa Peter $410,000 --
Zappa Peter $410,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gurung Chet $89,697
Open Gurung Chet $487,500
Closed Gurung Chet $487,500
Previous Owner Zappa Peter $30,000
Previous Owner Zappa Peter $285,000
Previous Owner Vinagre Jose Silva $328,000
Previous Owner Vinagre Jose Silva $148,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/29/2021 10/29/21 Sold $650,000 +8.4% $255 / Sq Ft
09/21/2021 09/21/21 Pending -- -- --
09/14/2021 09/14/21 For Sale $599,900 -- $236 / 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 $5,835 $599,700 $123,600 $476,100
2024 $5,835 $599,700 $123,600 $476,100
2023 $6,075 $573,700 $110,400 $463,300
2022 $5,457 $465,200 $96,000 $369,200
2021 $5,281 $424,500 $87,300 $337,200
2020 $4,997 $405,300 $87,300 $318,000
2019 $4,628 $364,700 $87,300 $277,400
2018 $4,439 $343,300 $87,300 $256,000
2017 $4,217 $319,700 $78,600 $241,100
2016 $3,886 $285,500 $78,600 $206,900
2015 $3,810 $279,100 $78,600 $200,500
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72894516

MLS Property Information Network (MLS PIN)

APN: GLOU-000030-000013