38 Revere Street Gloucester — Photo 1 of 12
Recent Drop: $165,000
$685,000
Investment Analysis — 38 Revere Street
Gloucester, MA 01930 — Bay View
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 2.30% cap rate and $15,768/yr in estimated NOI at the $685,000 list price. Adjust every assumption in the calculator below.
Beds
1
Baths
1
SqFt
648
Style
Single Family
Built
1986
Artist's Cottage — Annisquam/Back Bay, Gloucester. Originally built as an artist's barn, this magical one bedroom cottage sits on nearly an acre of land in one of Cape Anns most beautiful neighborhoods. Enjoy sunrises near the ocean, watch the stars appear at night, and step outside to gardens lovingly cultivated with organic care for over 25 years. A haven for sailors, kayakers, gardeners, writers, and dreamers. Make this your year round or perfect weekend get away spot. Perched atop a hill and safely above coastal storms, yet minutes from Gloucester's finest beaches, quarries, and so many hiking trails. The privacy, beauty and convenience is unmatched. Zoned R-40 with town water and sewer and two potential driveways — build your dream home and use the cottage for guests, studio space, or explore ADU or subdivision potential. Minutes to Annisquam Village and Plum Cove Beach. Come live by the ocean.This diamond is a rare find and won't be on the market long!
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: 324 sq ft (the lesser of 900 sq ft or half the 648 sq ft principal dwelling). Lot size: 36,500 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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Range • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Stable(s) • Golf
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstKitchen
Lvl FirstPrimary Bedroom
Lvl SecondBathroom 1
Lvl SecondProperty History
$685,000
Was $750,000
Sep 13, 2026
MLS® 73515187
$750,000
Was $790,000
Jun 29, 2026
MLS® 73515187
$790,000
Was $850,000
May 29, 2026
MLS® 73515187
$850,000
May 8, 2026
MLS® 73515187
Listing Agent: Krista Julian
Listing Office: Coldwell Banker Realty - Manchester
MLS® Number: 73515187