349 Ocean Avenue Marblehead — Photo 1 of 23
Recent Drop: $1,000,000
$7,750,000
Investment Analysis — 349 Ocean Avenue
Marblehead, MA 01945 — MARBLEHEAD NECK
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 5-bedroom in 01945 carries an estimated $3,390/mo in gross rent — about a -0.35% cap rate and $-27,392/yr in estimated NOI at the $7,750,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
5.5
SqFt
6,500
Style
Single Family
Built
1900
Set on 180 feet of beachfront, this rare and highly coveted Marblehead Neck estate offers an extraordinary blend of privacy, scale, and coastal prestige. Encompassing nearly 2-acres of irreplaceable shoreline, the property presents a once-in-a-generation opportunity to reimagine a legacy retreat in one of North Shore’s most exclusive enclaves. This 5 bedroom, 5.5 bath residence captures sweeping ocean vistas, awe-inspiring sunrises, and gentle sea breezes, providing an unparalleled setting for refined coastal living with private beach ownership. Whether the current home is meticulously restored or the site is transformed into a bespoke modern masterpiece, the land itself represents the ultimate in luxury. Expansive and rich with possibility, this estate is a lifestyle investment offering the rare freedom to design a beachfront vision that will endure for generations. For those seeking a premier waterfront acquisition, this property stands as a hallmark of North Shore excellence.
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 6,500 sq ft principal dwelling). Lot size: 80,738 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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater
Neighborhood
Walk/Jog Trails • Bike Path • Conservation Area • Marina • Private School • Public School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,FirstFlooring - Hardwood, Balcony / Deck
Dining Room
Lvl Main,FirstFlooring - Hardwood
Kitchen
Lvl Main,FirstFlooring - Hardwood, Breakfast Bar / Nook, Open Floorplan
Office
Lvl BasementFamily Room
Lvl Main,FirstFlooring - Hardwood, Balcony / Deck, Open Floorplan
Master Bedroom
Lvl SecondBathroom - Full, Walk-In Closet(s), Deck - Exterior
Bedroom 2
Lvl SecondBedroom 3
Lvl SecondCloset, Flooring - Hardwood
Bedroom 4
Lvl SecondCloset, Flooring - Wall to Wall Carpet
Bedroom 5
Lvl SecondBathroom 1
Lvl SecondBathroom 2
Lvl SecondBathroom 3
Lvl SecondProperty History
$7,750,000
Was $8,750,000
Jun 24, 2026
MLS® 73467958
$8,750,000
Jan 13, 2026
MLS® 73467958
Listing Agent: Judith Toner
Listing Office: The Proper Nest Real Estate
MLS® Number: 73467958
