Duplex-Style Two-Family
34 Summer Street Gloucester, MA 01930
34 Summer Street, Gloucester, MA, 01930
$1,100,000
For Sale
$1,100,000
Well-maintained two-family home with two units, full basements, and outdoor deck, patio, and yard space.
Property Size3,752 SF
Price / SF$293.18
Days on Market99
Property Features for 34 Summer Street
General Information
- Standard status
- Active
- Size
- 3,752 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Vadala Real Estate
Listed by
Mark Ventimiglia
(617) 846-8000
Source
Highlandre
Added: Apr 14 Updated: Jul 21 at 6:49PM Checked: Jul 21 at 6:49PM
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 Vadala Real Estate
Investment Insights
Based on property information with market context.
This beautifully maintained duplex-style two-family home offers two spacious, sun-filled units designed for comfortable living or income. Each first-floor level includes a living room, formal dining room, kitchen, and a half bath with laundry. Upstairs, both units provide three spacious bedrooms and a full bath. The owner’s unit extends to a finished third floor with two versatile bonus rooms that can function as additional bedrooms, a home office, playroom, or gym. Inside, gleaming hardwood floors, high ceilings, and abundant natural light help create an inviting atmosphere. Both units also include full basements.
Outside, enjoy a deck, a small patio area, and a rolling yard accented by picturesque granite outcroppings, creating an attractive setting for relaxing at home. The property is described as being just steps from downtown Gloucester’s shops, restaurants, and waterfront, supporting a highly convenient lifestyle.
Located at 34 Summer Street, this property provides options for an owner-occupied income setup, investment ownership, multi-generational living, or a potential condo conversion, as stated in the remarks.
Outside, enjoy a deck, a small patio area, and a rolling yard accented by picturesque granite outcroppings, creating an attractive setting for relaxing at home. The property is described as being just steps from downtown Gloucester’s shops, restaurants, and waterfront, supporting a highly convenient lifestyle.
Located at 34 Summer Street, this property provides options for an owner-occupied income setup, investment ownership, multi-generational living, or a potential condo conversion, as stated in the remarks.
Key Highlights
- Well‑maintained duplex‑style two‑family home (year built 1900) with two spacious units
- Each unit offers a first‑floor layout with living room, formal dining room, kitchen, and half bath with laundry
- Upstairs features three spacious bedrooms and a full bath
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $94.6k | $25.20 |
| − Vacancy | −$4.3k | −$1.13 |
| EGI | $90.3k | $24.07 |
| − OpEx | −$27.1k | −$7.22 |
| NOI | $63.2k | $16.85 |
3,752 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$903.0K
$790.1K – $1.05M
NOI $63,207 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$815.1K
$713.2K – $950.9K
NOI $57,054 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$2.22M
$1.94M – $2.59M
NOI $155,482 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Well-maintained two-family home with two units, full basements, and outdoor deck, patio, and yard space.
Where is this duplex located?
The property is located at 34 Summer Street Gloucester, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Well‑maintained duplex‑style two‑family home (year built 1900) with two spacious units; Each unit offers a first‑floor layout with living room, formal dining room, kitchen, and half bath with laundry; Upstairs features three spacious bedrooms and a full bath
