
24 Ocean Avenue Marblehead — Photo 1 of 39
$1,485,000
Investment Analysis — 24 Ocean Avenue
Marblehead, MA 01945
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01945 carries an estimated $3,390/mo in gross rent — about a 1.26% cap rate and $18,777/yr in estimated NOI at the $1,485,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
3
SqFt
3,000
Style
Single Family
Built
1935
Location, Location....Goldthwait/Devereux neighborhood. This desirable 4 bedroom, 3 full bath Colonial home is a short distance to town shops, restaurants, schools, beaches, boat ramp and Marblehead Harbor. Expansive lot size of 11.499 sf boasts an oversized fenced in yard and brick patio combination. Perfect for family fun and entertaining. Mature trees, plantings and lush lawns throughout the property. Bright and sunny, the newly updated stainless and stone countertop eat-in kitchen features double wall ovens, gas 5 burner countertop range and custom shelving and cabinetry. Remodeled 1st level open floor plan incorporates large family room w/ wood burning stove, patio access, ceramic tile mudroom, full size laundry and loads of closet storage. Spacious (29X15) living room with wood burning fireplace and hardwood flooring leaves plenty of room for formal dining. A first level bedroom/office with large double closet is conveniently located near a full bath with shower/tub combination. The primary bedroom features include full bath w/ tumbled marble shower, a cathedral ceiling, custom closet/cabinets and loft area. Additional dramatic new bath includes double vanity, walk in tile and glass enclosed shower and custom features. 2 additional bedrooms include one at (20X19) and the other at (12 X11) used currently as an office. The lower level offers tremendous storage, work shop, new gas fired heating system (2026), circuit breakers, bulk head access to driveway exterior. A comfortable covered deck area lies just off the driveway and living room. Driveway allows for 7 to 8 cars and/or boat storage. Ample room for future garage or ADU. The property has been inspected prior to market. Inspection available to those Buyers that come and view the property.
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: 900 sq ft (the lesser of 900 sq ft or half the 3,000 sq ft principal dwelling). Lot size: 11,499 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.
Open Houses
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Water Heater • Oven • Dishwasher • Disposal • Microwave • Range • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Golf
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First29 x 15
Closet, Closet/Cabinets - Custom Built, Flooring - Hardwood, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled
Dining Room
Lvl Main,FirstFlooring - Hardwood, Exterior Access, Open Floorplan, Remodeled
Kitchen
Lvl Main,First18 x 15
Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Cabinets - Upgraded, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled, Stainless Steel Appliances
Family Room
Lvl Main,First23 x 12
Wood / Coal / Pellet Stove, Flooring - Hardwood, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled
Primary Bedroom
Lvl Second17 x 12
Bathroom - Full, Skylight, Vaulted Ceiling(s), Closet, Closet/Cabinets - Custom Built, Flooring - Hardwood, Recessed Lighting, Remodeled
Bedroom 2
Lvl Second20 x 19
Bedroom 3
Lvl Second12 x 10
Closet, Flooring - Hardwood, Remodeled
Bedroom 4
Lvl Main,First15 x 13
Closet, Flooring - Hardwood, Recessed Lighting, Remodeled
Bathroom 1
Lvl FirstBathroom - Half, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl SecondBathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Cabinets - Upgraded, Remodeled, Wainscoting
Bathroom 3
Lvl SecondBathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Recessed Lighting, Remodeled
Listing Agent: Steven White
Listing Office: William Raveis R.E. & Home Services
MLS® Number: 73580158
