135 Cherry Street Gloucester — Photo 1 of 39
$499,900
Investment Analysis — 135 Cherry Street
Gloucester, MA 01930 — Riverdale
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01930 carries an estimated $3,080/mo in gross rent — about a 4.69% cap rate and $23,441/yr in estimated NOI at the $499,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1
SqFt
1,071
Style
Single Family
Built
1965
Welcome to 135 Cherry Street, a wonderful opportunity in Gloucester’s established Riverdale neighborhood. Located directly across the street from the neighborhood elementary school, Beeman Elementary, this longtime-owned home offers an exceptionally convenient setting and is ready for its next chapter. Owned by the same owner for 25 years, the home features hardwood flooring, multiple newer windows, an attached one-car garage, and public water and sewer. Inside, a comfortable and functional layout provides plenty of opportunity to personalize the home over time while retaining its original character. Outside, the yard offers space to relax, garden, entertain, or create your own outdoor retreat. Beyond having the elementary school just across the street, O’Maley Innovation Middle School is also located along Cherry Street, adding to the convenience of this Riverdale location. Downtown Gloucester, commuter routes, beaches, waterfront attractions, shopping, dining, and all that Cape Ann has to offer are within easy reach. 135 Cherry Street offers a great opportunity to make a home your own in a convenient and well-established Gloucester neighborhood.
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 536 sq ft (the lesser of 900 sq ft or half the 1,071 sq ft principal dwelling). Lot size: 10,454 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
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Water Heater • Range • Microwave • Refrigerator
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Listing Agent: Christopher Pascoe
Listing Office: RE/MAX Synergy
MLS® Number: 73580209
