187 Lagoon Pond Road Tisbury — Photo 1 of 27
Recent Drop: $130,000
$2,695,000
Investment Analysis — 187 Lagoon Pond Road
Tisbury, MA 02575 — Lagoon
Based on HUD Small Area Fair Market Rent for Dukes County, MA, a 5-bedroom in 02575 carries an estimated $4,060/mo in gross rent — about a 0.83% cap rate and $22,465/yr in estimated NOI at the $2,695,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
2
SqFt
2,386
Style
Single Family
Built
1850
For the very first time, the historic Ben Luce Homestead (circa 1850) is being offered on the open market. This charming farmhouse blends rich Island history with timeless appeal.Once home to Benjamin Norton Luce (1840–1912) — Civil War veteran, blacksmith, and town constable — the property sits on 1.5 acres of pastoral land and offers 5 bedrooms, 2 full baths, solar panels, barn, and a newly updated septic system meeting current standards. Thoughtfully restored for year-round living, the home provides comfort, character, and sustainability. Just minutes from Vineyard Haven’s harbor, shops, and ferry, this rare offering combines privacy with exceptional convenience.Whether enjoyed as-is or further restored as a preservation project, the Ben Luce Homestead is ready for its next chapter — as a year-round residence, summer retreat, or historic Island treasure.The barn offers the perfect foundation for adding an ADU or additional living space, enhancing both functionality and value.
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 2,386 sq ft principal dwelling). Lot size: 65,340 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
Water Heater • Oven • Microwave • Range • Refrigerator • Washer • Dryer • ENERGY STAR Qualified Dishwasher
Neighborhood
Public Transportation • Shopping • Medical Facility • Marina • Public School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstCloset, Flooring - Hardwood
Dining Room
Lvl FirstFlooring - Hardwood, Gas Stove
Kitchen
Lvl FirstSkylight, Flooring - Hardwood, Dining Area, Kitchen Island, Cable Hookup, Recessed Lighting, Remodeled, Second Dishwasher
Master Bedroom
Lvl SecondWalk-In Closet(s), Closet, Flooring - Hardwood
Bedroom 2
Lvl SecondBedroom 3
Lvl SecondCloset, Flooring - Hardwood
Bedroom 4
Lvl FirstCloset, Flooring - Hardwood
Bedroom 5
Lvl FirstFlooring - Hardwood
Bathroom 1
Lvl FirstBathroom - Full, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl SecondBathroom - Full, Flooring - Stone/Ceramic Tile
Property History
$2,695,000
Was $2,825,000
May 13, 2026
MLS® 73441105
$2,825,000
Oct 8, 2025
MLS® 73441105
Listing Agent: Erin Leighton
Listing Office: Compass
MLS® Number: 73441105
