Active
46 Days on market
8 Luzitania Ave Gloucester — Photo 1 of 33

8 Luzitania Ave Gloucester — Photo 1 of 33

$575,000

Investment Analysis — 8 Luzitania Ave

Gloucester, MA 01930

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 1-bedroom in 01930 carries an estimated $2,160/mo in gross rent — about a 2.56% cap rate and $14,700/yr in estimated NOI at the $575,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

1

Baths

1.5

SqFt

2,233

Style

Single Family

Built

1944

Owned by the same family since 1970, this well well-located Gloucester home is ready for its next chapter. Offering exceptional flexibility and outstanding potential, it's an ideal opportunity to renovate and create a layout tailored to your vision. The main level features a spacious great room with vaulted ceilings, skylights, and abundant natural light, along with a living room, kitchen, sunroom, bedroom, and a dining room that could be reconfigured to suit a variety of future layouts. Both the main level and finished lower level include their own washer and dryer, adding convenience for everyday living. The finished lower level also offers a second kitchen, half bathroom, sunroom, generous living space, and a separate entrance, creating excellent potential for an in-law suite or future conversion opportunities. Buyers to perform all due diligence regarding potential future use. Outside, enjoy a fully fenced, low-maintenance oversized patio, ideal for relaxing or entertaining, along with four off-street parking spaces. Additional space alongside the home may be well suited for boat or recreational equipment storage. Ideally situated just minutes from Gloucester's vibrant downtown, beaches, harbor, restaurants, shopping, and cultural attractions, the home is approximately 0.2 miles from the new Veterans Memorial Elementary School, close to the MBTA commuter rail with direct service to Boston, offers easy access to Rt128, and is ready to be transformed into a layout that fits its next owner's vision. All offers, if any, are due by Tuesday, August 4th at noon with 24hrs for response as it is an estate sale.

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 2,233 sq ft principal dwelling). Lot size: 4,500 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$575,000
Annual Taxes$4,999

Parking

Garage0
Off-Street4

Interior Specifications

Total Rooms9
Fireplaces1
FlooringTile, Vinyl, Laminate, Hardwood, Flooring - Hardwood, Flooring - Vinyl
BasementFinished, Walk-Out Access, Interior Entry

Climate & Utilities

HeatingBaseboard, Hot Water, Oil, Electric, Fireplace
CoolingCentral Air, Window Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle, Asphalt/Composition Shingles
FoundationConcrete Perimeter
ZoningR5

Property & Lot

Acres0.1
SqFt Lot4,500
Lot FeaturesCleared, Level

Amenities & Appliances

Range • Dishwasher • Refrigerator • Washer • Dryer • Range Hood

Neighborhood

Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Golf

Geography

Floorplan Breakdown

Structural Layout

Basement
Bathroom 2
Main,First
Living RoomDining RoomKitchenMaster BedroomBathroom 1
Living Room
Lvl Main,First

Ceiling Fan(s), Flooring - Hardwood, Exterior Access

Dining Room
Lvl Main,First

Closet, Flooring - Hardwood, Lighting - Overhead

Kitchen
Lvl Main,First

Ceiling Fan(s), Flooring - Hardwood, Lighting - Overhead

Master Bedroom
Lvl Main,First

Ceiling Fan(s), Closet, Flooring - Wood

Bathroom 1
Lvl Main,First

Bathroom - 3/4, Bathroom - With Shower Stall, Flooring - Stone/Ceramic Tile, Lighting - Overhead, Crown Molding

Bathroom 2
Lvl Basement

Bathroom - Half

Listing Provided By

Listing Agent: Henry Pizzo

Listing Office: Aluxety

MLS® Number: 73555744