Investment Analysis — 53 Western Ave

Gloucester, MA 01930 — Gloucester Harbor

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 9-bedroom in 01930 carries an estimated $3,390/mo in gross rent — about a 1.27% cap rate and $19,099/yr in estimated NOI at the $1,500,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

5.5

SqFt

4,610

Style

Single Family

Built

1741

Step into a piece of history overlooking Gloucester Harbor. Built in 1741 as a single family home, the property is currently used as an inn/multi unit property offering an expansive 4610 square feet of living space. Large exposed beams and unique features throughout. Conversion back to a single family would create a very stately captains house. Discover the enduring charm and potential of this historic Gloucester residence in the heart of America’s oldest seaport.

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 4,610 sq ft principal dwelling). Lot size: 5,770 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 MLS and other third-party data may be inaccurate or out of date.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.