239 Granite St · Gloucester, MA 01966

$899,000

3 bd · 2.5 ba · 2,066 sqft · SingleFamily public records · 18 Days on market

Built 1942 8,276 sqft lot Est $1083k · 17% under

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This classic New England home is surrounded by mature landscaping and offers variety of indoor and outdoor living. The spacious great room features cathedral ceilings and flows seamlessly into the open-concept kitchen, all leading to a deck overlooking the yard and outdoor stone fireplace. Additional living spaces include a welcoming living room with fireplace and a formal dining room. The second floor offers primary bedroom with walk in closet and 2 additional bedrooms with plenty of closets, A convenient first-floor laundry room adds everyday ease. Major improvements include a newer Buderus heating system, Velocity water heater, 2019 roof. 2014 updated windows and kitchen. Potential for

Key facts

• Open-concept kitchen
• Great room
• 8,276 sq ft lot

Tags

• INDOOR AND OUTDOOR LIVING
• GREAT ROOM
• OPEN-CONCEPT KITCHEN
• DECK OVERLOOKING YARD
• OUTDOOR STONE FIREPLACE
• WELCOMING LIVING ROOM

Property features AI

Finance

• HOA & community: Community offers public transportation, shopping, walk/jog trails, golf, laundromat, bike path and houses of worship

Exterior

• Parking: Paved driveway; Open parking for 3 vehicles
• Utilities: Public water; Public sewer; Electric with circuit breakers; Electric hookups for range and dryer
• Home design: Single family residence; Updated/remodeled condition; Approximately 2,066 total building area; White exterior color
• Construction: Shingle roof; Granite foundation; Year built approximately (public records)
• Exterior features: Composite deck; Exterior storage; Cleared lot; Public road frontage; Ocean nearby; 1–2 miles to beach; public beach access

Interior

• Kitchen: Hardwood floors; Stone/granite or solid countertops; Kitchen island; Open to adjacent living/dining areas; Access to exterior deck
• Bedrooms: Master bedroom on second floor with walk-in closet, recessed lighting and hardwood floors; Second bedroom on second floor with custom built cabinets/closet and hardwood floors; Third bedroom on second floor with closet and hardwood floors
• Flooring: Hardwood throughout primary living areas; Tile in select areas; Laminate in second-floor bathroom
• Bathrooms: Two full bathrooms; First-floor bathroom with shower stall; Second-floor bathroom with tub and shower; laminate flooring
• Heating & cooling: Baseboard heating (oil); Window cooling units; Has heating and cooling
• Interior features: Cathedral ceilings; Ceiling fans; Open floorplan; Slider; Closets; Dining area; Great room; Storm door(s); Insulated windows; Hardwood and tile flooring
• Laundry & utility: First-floor laundry with washer and electric dryer hook-ups (5x7)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $899k.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($12k rent vs $899k).
• Recommended offer: $886k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 2.4% in Gloucester — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#119 in MA) — a middle-class / working-renter tenant base. Strengths: commute A+, employment A, crime B+; Watch: amenities F, cost of living F.
• Rockport (suburban): math 32% / reading 51% proficiency, ranked #187 of 302 in MA (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: 28 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $27k of value loss. Plan a longer hold.
• Essex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $252k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($886k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 8→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $885,515 (1.5% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
4. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.38% ✓
• Cap rate: 11.97%
• Cash-on-cash: 20.27%
• DSCR: 1.90
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $1,082,584
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
237 Granite St	0.02mi	3/2.0	1,890 (-8%)	12mo	$990,000	$524	73
25 Stockholm Ave	0.44mi	3/2.5	2,120 (+3%)	6mo	$665,000	$314	70
110 Phillips Ave	0.05mi	3/2.5	1,900 (-8%)	18mo	$1,276,000	$672	70

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 12.5%
• Equity multiple: 1.50×
• Total profit: $124,974
• Equity at exit: $134,044

10-year hold

• IRR: 21.4%
• Equity multiple: 2.81×
• Total profit: $456,763
• Equity at exit: $77,729

Cash invested: $251,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 01966

• Home prices YoY: -21.2%
• Active inventory: 28
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $12,438 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$485 /mo · $5,815/yr
• Insurance: −$375
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,612
• Net cashflow: $4,253

Break-even live

Break-even rent $7,055

Max offer price $899,000

Occupancy floor 61%

Sensitivity live

Price	-10% $4,762	-5% $4,507	+0% $4,253	+5% $3,998	+10% $3,744
Rent	-10% $3,270	-5% $3,761	+0% $4,253	+5% $4,744	+10% $5,235
Rate	-1.0pp $4,705	-0.5pp $4,481	base $4,253	+0.5pp $4,020	+1.0pp $3,783

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21 Norseman Ave Gloucester, MA	2.0	2.0	1700	$3,500	$2.06	0d	1	1.29mi
14 Sunset Point Rd Gloucester, MA	3.0	2.5	1518	$24,000	$15.81	0d	1	1.49mi

Listing history 13 events

1. 2026-06-21
   days on market $899,000 Active 18 DOM
2. 2026-06-18
   days on market $899,000 Active 15 DOM
3. 2026-06-17
   days on market $899,000 Active 14 DOM
4. 2026-06-16
   days on market $899,000 Active 13 DOM
5. 2026-06-15
   statusdays on market $899,000 Active 12 DOM
6. 2026-06-13
   days on market $899,000 Price Changed 10 DOM
7. 2026-06-13
   pricestatusdays on market $899,000 Price Changed 9 DOM
8. 2026-06-09
   days on market $969,000 Active 6 DOM
9. 2026-06-08
   days on market $969,000 Active 5 DOM
10. 2026-06-08
    status $969,000 Active 4 DOM
11. 2026-06-07
    days on market $969,000 New 4 DOM
12. 2026-06-04
    remarks 699-char remark
13. 2026-06-04
    listed $969,000 New 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $5,815 · $485/mo
• Projected year-2 tax: $8,436 · $703/mo
• Expected delta: +$2,621/yr (+$218/mo · 45.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 8 d/yr ≥87°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $149,260
• − Mortgage interest: −$50,358
• − Property taxes: −$5,815
• − Insurance: −$4,495
• − Repairs & maintenance: −$11,941
• − Management: −$11,941
• − Depreciation: −$26,153
• Taxable income: $38,558
• Est. tax owed @ 24.0%: −$9,254
• After-tax cash flow: $41,778/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Rockport
• NCES district ID: 2510200
• Math proficiency: 32% ▼ -14.00%
• Reading proficiency: 51% ▼ -8.00%
• Median HH income: $67,677
• Composite: 37.35/100
• National rank: #4436
• State rank: #187 of 302 in MA

Livability — Gloucester

• Score: 72/100
• State rank: #119
• US rank: #6345

Category grades

Amenities F Commute A+ Cost of living F Crime B+ Employment A Housing B Health & safety B User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 30,075
• Population (ZIP): 6,977

Population outlook (Essex County) Hauer SSP2

• Today (2025): 840,920 people
• By 2030: 872,201 · +3.7%
• By 2040: 927,918 · +10.3%
• By 2050: 970,206 · +15.4%
• By 2075: 1,077,993 · +28.2%
• By 2100: 1,103,053 · +31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Lithuanian 5% Slovak 4% Romanian 4%
• Foreign-born: 5% · Canada, Jamaica
• Languages at home: 96% English-only · Other Indo-European 2% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Essex

• 2024 margin: Strong D (+20.3) · D 59.2% · R 38.9% · Other 1.9%
• 2008→2024 swing: 0.0pp no change · 2008: 20.3pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+29.1 2016: D+22.5 2012: D+16.2 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -74.07%
• Current HPI: 275.8249
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

1 event — show timeline

• 2026-06-03 Listed $969,000 MLS PIN

Property tax history

+3.7%/yr

Latest (2023): $5,815 · +12.9% YoY. Source: county tax records.