Townhouse-Style
For Sale
$799,000
1 Granite Court, Gloucester, MA 01930
Two units include decks, fenced yards, and separate laundry facilities.
Property Size2,530 SF
Price / SF$315.81
Days on Market68
Property Features for 1 Granite Court
General Information
Standard status
Active
Size
2,530 SF
Property subtype
Multi-family
Additional Details
Road Access
Yes
Multifamily Units
2
Amenities
basement storage
separate laundry
deck
fenced backyard
Building Details
Year Built
1900
Listing Agency:
J. Barrett & Company
Listed By:
Laura Crowell · License #9586902
(978) 578-6570
Source:
Jbarrettrealty
Added: Aug 16
Changed: Oct 21
Last Checked: Oct 21 at 12:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of J. Barrett & Company
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Investment Insights
Based on property information with market context.
This 2,530-square-foot duplex contains two townhouse-style residences with separate living areas and expansive primary bedrooms. One unit includes an open arrangement connecting the living room, dining area, and kitchen. Both residences open to decks and private fenced outdoor areas. The property also provides off-street parking, basement storage, and individual laundry facilities for each unit.
Constructed in 1900, the property has been maintained with recent updates that include a renovated bathroom and new fencing. It is located on a residential street approximately ¼ mile from Gloucester High School and minutes from Downtown Gloucester. Shops, restaurants, the harbor, waterfront, local amenities, and North Shore beaches are also identified nearby.
Constructed in 1900, the property has been maintained with recent updates that include a renovated bathroom and new fencing. It is located on a residential street approximately ¼ mile from Gloucester High School and minutes from Downtown Gloucester. Shops, restaurants, the harbor, waterfront, local amenities, and North Shore beaches are also identified nearby.
Key Highlights
- Two‑unit duplex with 2,530 SF of building area
- Townhouse‑style residences with expansive primary bedrooms
- Deck access and private fenced‑in backyards for both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,621
Cap Rate
5.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$852,420
$852.4K
Cap Rate 7%
$608,871
$608.9K
Cap Rate 9%
$473,567
$473.6K
Market Conditions
NOI Build-Up for 2,530 SF
Gross rent
$63.8K $25.20/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$60.9K $24.07/SF
− OpEx
−$18.3K −$7.22/SF
NOI
$42.6K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$852,420
Cap Rate 7%
$608,871
Cap Rate 9%
$473,567
Alternative Uses
Best Use
Multifamily LT 5
$608.9K
$532.8K – $710.4K
NOI $42,621 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$549.6K
$480.9K – $641.2K
NOI $38,472 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,843 @ 7.0% cap · market cap 13.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
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Business Placement
Demographics for 01930, MA
29,729
Population
14,630
Households
2
Avg Household Size
50
Median Age
39%
College-Educated
94%
High-School Grad
26.2 sq mi
ZIP Area
1,135
Density / Sq Mi
$87,898
Median Household Income
$49,580
Median Earnings
$1,395
Median Rent
$587,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two units include decks, fenced yards, and separate laundry facilities.
Where is this duplex located?
The property is located at 1 Granite Court Gloucester, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,530 SF of building area; Townhouse‑style residences with expansive primary bedrooms; Deck access and private fenced‑in backyards for both units
