Active
391 Days on market
263 East Main Street Gloucester — Photo 1 of 36

263 East Main Street Gloucester — Photo 1 of 36

Recent Drop: $750,000

$3,700,000
$2,950,000

$2,950,000

Investment Analysis — 263 East Main Street

Gloucester, MA 01930

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01930 carries an estimated $3,390/mo in gross rent — about a 0.45% cap rate and $13,267/yr in estimated NOI at the $2,950,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

2.5

SqFt

2,500

Style

Single Family

Built

1988

OPEN HOUSE SATURDAY SEPT 19TH FROM 2:30 - 4. EXCEPTIONAL OPPORTUNITY TO LIVE ON THE HARBOR WITH YOUR OWN DEEP WATER DOCK approx. 290 feet long with a recently renovated 4-bedroom 2 1/2 bath harbor front home on SMITH'S COVE. The dock is fully licensed with a Chapter 91 permit, providing legal compliance for the owner. Sits across the harbor from Rocky Neck, renowned for its artist colonies, galleries, shops, and restaurants, this home offers a front-row seat to the bustling, picturesque harbor and easy access to the vibrant cultural life of Gloucester's waterfront. The home has all the modern conveniences with a state-of-the-art kitchen with all high-end appliances. There is a huge pantry off the kitchen. A spacious primary bedroom suite over the heated garage includes its own bath, while two additional bedrooms feature walkout decks and a skylight in the fourth bedroom. Large deck off living room all ooverlooking this spectacular harbor. There is another room that could be an office and is close to the main bedroom. There are two baths on the second level and a half bath with a washer-dryer hook-up on the first floor.

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 2,500 sq ft principal dwelling). Lot size: 21,400 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.

Open Houses

Property Details

Financials

Original Price$3,700,000
Annual Taxes$17,650

Parking

Garage1
Off-Street4

Interior Specifications

Total Rooms8
Fireplaces1
FlooringTile, Hardwood, Flooring - Hardwood
BasementPartial, Walk-Out Access, Concrete, Unfinished

Climate & Utilities

HeatingBaseboard, Natural Gas
CoolingNone
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningNB

Property & Lot

Acres0.49
SqFt Lot21,400
Lot FeaturesEasements, Other

Amenities & Appliances

Gas Water Heater • Water Heater • Range • Oven • Dishwasher • Disposal • Refrigerator • ENERGY STAR Qualified Refrigerator

Neighborhood

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

Geography

Floorplan Breakdown

Structural Layout

Second
Primary BedroomBedroom 2Bedroom 3Bedroom 4Bathroom 2Bathroom 3
Main,First
Living RoomDining RoomKitchenBathroom 1
Living Room
Lvl Main,First

30 x 12

Flooring - Wood, Deck - Exterior, Exterior Access, Open Floorplan

Dining Room
Lvl Main,First

Flooring - Hardwood, Balcony / Deck, Exterior Access, Open Floorplan, Lighting - Overhead

Kitchen
Lvl Main,First

26 x 12

Flooring - Hardwood, Dining Area, Pantry, Countertops - Stone/Granite/Solid, Breakfast Bar / Nook, Country Kitchen, Deck - Exterior, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled, Stainless Steel Appliances, Gas Stove, Peninsula, Lighting - Overhead, Crown Molding

Primary Bedroom
Lvl Second

17 x 17

Bathroom - 3/4, Wood / Coal / Pellet Stove, Cathedral Ceiling(s), Closet, Flooring - Hardwood

Bedroom 2
Lvl Second

12 x 12

Bedroom 3
Lvl Second

11 x 19

Closet, Flooring - Hardwood, Deck - Exterior

Bedroom 4
Lvl Second

11 x 12

Closet, Flooring - Hardwood

Bathroom 1
Lvl Main,First

Bathroom - Half, Dryer Hookup - Electric, Washer Hookup

Bathroom 2
Lvl Second

Bathroom - 3/4, Bathroom - Tiled With Shower Stall

Bathroom 3
Lvl Second

Bathroom - Full, Bathroom - Tiled With Tub & Shower

Property History

Price Drop
$2,950,000

Was $3,295,000

Aug 3, 2026

MLS® 73421894

Price Drop
$3,295,000

Was $3,700,000

Jun 14, 2026

MLS® 73421894

Listed
$3,700,000

Aug 25, 2025

MLS® 73421894

Listing Provided By

Listing Agent: Jeanne Carpenter

Listing Office: J. Barrett & Company

MLS® Number: 73421894