Active
32 Days on market
137 Prospect St. Gloucester — Photo 1 of 42

137 Prospect St. Gloucester — Photo 1 of 42

Recent Drop: $101,001

$797,000
$695,999

$695,999

Investment Analysis — 137 Prospect St.

Gloucester, MA 01930 — Downtown

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 3.31% cap rate and $23,041/yr in estimated NOI at the $695,999 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2

SqFt

1,568

Style

Single Family

Built

1900

Wake up to harbor views, spend your evenings watching Fourth of July fireworks from your private third-floor deck, and enjoy the best of downtown Gloucester from one of its most unique homes. This beautifully updated 3-bedroom, 2-bath single-family home offers 1,568 square feet of living space across three distinctive levels, creating a layout that feels remarkably spacious and full of character. Multiple rooms feature ceilings over 9 feet high, adding to the home's open, airy feel, while the top-floor office overlooks Gloucester Harbor, making working from home anything but ordinary. The renovated kitchen features a center island with bar seating, white cabinetry, and stainless steel appliances, flowing seamlessly into the dining and living spaces. Step outside to a backyard designed for enjoying the coastal lifestyle, with a fire pit for summer nights, an outdoor shower after a day at the beach, and a convenient side dog run for four-legged family members. Just steps from Main Street's shops, restaurants, galleries, and waterfront, less than a mile from St. Peter's Fiesta, and approximately 1.5 miles from Good Harbor Beach, this home offers an exceptional combination of coastal charm, downtown walkability, outdoor living, and privacy. A dry basement with approximately 375 square feet of storage adds valuable functionality.

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: 784 sq ft (the lesser of 900 sq ft or half the 1,568 sq ft principal dwelling). Lot size: 1,700 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.

Property Details

Financials

Original Price$797,000
Annual Taxes$5,049

Parking

Garage0
Off-Street0

Interior Specifications

Total Rooms11
FireplacesNone
FlooringWood
BasementUnfinished

Climate & Utilities

HeatingHot Water
CoolingWindow Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

Construction--
Roof--
FoundationGranite
ZoningB2

Property & Lot

Acres0.04
SqFt Lot1,700
Lot FeaturesOther

Amenities & Appliances

Gas Water Heater • Range • Dishwasher • Washer • Dryer

Neighborhood

Public Transportation

Geography

Floorplan Breakdown

Structural Layout

Second
Master BedroomBedroom 2
First
Living RoomDining RoomKitchenFamily RoomBedroom 3
Living Room
Lvl First

Beamed Ceilings, Flooring - Hardwood

Dining Room
Lvl First

Flooring - Hardwood, Crown Molding

Kitchen
Lvl First

Flooring - Wood, Crown Molding

Family Room
Lvl First
Master Bedroom
Lvl Second

Cathedral Ceiling(s), Closet, Flooring - Hardwood

Bedroom 2
Lvl Second
Bedroom 3
Lvl First

Walk-In Closet(s), Flooring - Hardwood

Property History

Price Drop
$695,999

Was $730,000

Sep 4, 2026

MLS® 73561841

Price Drop
$730,000

Was $797,000

Aug 22, 2026

MLS® 73561841

Listed
$797,000

Aug 11, 2026

MLS® 73561841

Listing Provided By

Listing Agent: Dave Huddleston

Listing Office: Huddleston Homes LLC

MLS® Number: 73561841