47 Wheeler Street Gloucester — Photo 1 of 27
$699,900
Investment Analysis — 47 Wheeler Street
Gloucester, MA 01930 — Wheelers Point
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 01930 carries an estimated $2,560/mo in gross rent — about a 2.43% cap rate and $17,011/yr in estimated NOI at the $699,900 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
2
SqFt
1,980
Style
Single Family
Built
1924
Enjoy coastal living in Gloucester's sought-after Wheeler's Point neighborhood, just steps to the Annisquam River. Charming rustic Cape in fantastic condition, offering a warm blend of character, comfort and easy living. This well maintained 2 bedroom 2 bath home provides approximately 1980 sq ft of inviting living space on a good size lot. Home has gleaming hardwood floors that have been barely touched, furniture and all items in home are negotiable with sale. River is steps away and nice views from front of home making this a rare opportunity to own near water. Downstairs has updated kitchen with gorgeous brick and post and beam decor. Dining and living are open concept making multiple gatherings enjoyable. Family room on this level offers bright light and opens to deck and picturesque setting. Come and bring the boat rare opportunity.
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 1,980 sq ft principal dwelling). Lot size: 8,800 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 • Oven • Dishwasher • Range • Refrigerator • Washer • Dryer
Neighborhood
Shopping • Medical Facility • Laundromat • Highway Access • House of Worship
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstFlooring - Hardwood
Dining Room
Lvl FirstFlooring - Hardwood
Kitchen
Lvl FirstFamily Room
Lvl FirstFlooring - Stone/Ceramic Tile
Master Bedroom
Lvl SecondFlooring - Wall to Wall Carpet
Bedroom 2
Lvl FirstListing Agent: Lisa Bouchard
Listing Office: East Key Realty
MLS® Number: 73561444
