Active Under Contract
11 Days on market
1 Elm Top Lane Beverly — Photo 1 of 36

1 Elm Top Lane Beverly — Photo 1 of 36

$1,900,000

Investment Analysis — 1 Elm Top Lane

Beverly, MA 01915 — Cove

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01915 carries an estimated $3,550/mo in gross rent — about a 1.08% cap rate and $20,461/yr in estimated NOI at the $1,900,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

3.5

SqFt

3,044

Style

Single Family

Built

1969

Welcome to 1 Elm Top Lane! Enter through impressive stone walls and discover this exceptional property, ideally situated in Beverly’s highly desirable Cove neighborhood. Tucked away on a private lane just steps from the ocean, this beautifully updated, custom-built Garrison Colonial seamlessly blends classic New England charm with modern amenities. Featuring 4 bedrooms and 3.5 bathrooms, the home offers a spacious, thoughtfully updated interior with new hardwood floors throughout and an updated kitchen with cherry custom cabinets and soapstone countertops. Step outside to a large backyard with a generous fenced-in area, private patio, and out front a covered porch area. The private setting, abundant outdoor space, and proximity to the ocean provide a wonderful opportunity to experience the best of Beverly’s coastal lifestyle.

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 3,044 sq ft principal dwelling). Lot size: 21,122 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$1,900,000
Annual Taxes$11,915

Parking

Garage2
Off-Street6

Interior Specifications

Total Rooms11
Fireplaces1
FlooringWood, Tile, Flooring - Hardwood, Flooring - Stone/Ceramic Tile
BasementFull, Crawl Space, Bulkhead, Unfinished

Climate & Utilities

HeatingCentral, Forced Air, Gravity, Electric Baseboard, Natural Gas, Electric
CoolingCentral Air, Heat Pump, Dual
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningR10

Property & Lot

Acres0.48
SqFt Lot21,122
Lot Features--

Amenities & Appliances

Gas Water Heater • Range • Dishwasher • Disposal • Refrigerator • Freezer • Washer • Dryer

Geography

Floorplan Breakdown

Structural Layout

Second
Primary BedroomBedroom 2Bedroom 3Bedroom 4Bathroom 3
First
Living RoomDining RoomBedroom 5Bathroom 1Bathroom 2
Main,First
KitchenFamily Room
Living Room
Lvl First

15.1 x 13.6

Flooring - Hardwood

Dining Room
Lvl First

13.2 x 13.5

Flooring - Hardwood

Kitchen
Lvl Main,First

19 x 13.1

Closet/Cabinets - Custom Built, Flooring - Hardwood, Cabinets - Upgraded, Deck - Exterior, Slider, Stainless Steel Appliances

Family Room
Lvl Main,First

14.8 x 19.6

Beamed Ceilings, Closet/Cabinets - Custom Built, Flooring - Hardwood, Deck - Exterior, Exterior Access, Slider

Primary Bedroom
Lvl Second

18.1 x 13.6

Bathroom - Full, Closet, Closet/Cabinets - Custom Built, Flooring - Hardwood, Flooring - Wood, Dressing Room, Lighting - Overhead

Bedroom 2
Lvl Second

13.6 x 15.9

Bedroom 3
Lvl Second

13.6 x 11.6

Closet, Flooring - Hardwood, Flooring - Wood, High Speed Internet Hookup

Bedroom 4
Lvl Second

12.11 x 11.4

Closet, Flooring - Hardwood, Flooring - Wood

Bedroom 5
Lvl First

14.1 x 13.1

Bathroom - 3/4, Flooring - Vinyl, Exterior Access

Bathroom 1
Lvl First

Bathroom - Half, Flooring - Stone/Ceramic Tile

Bathroom 2
Lvl First

Bathroom - 3/4, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile

Bathroom 3
Lvl Second

4.9 x 8.5

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile

Listing Provided By

Listing Agent: The Susan Schale Team

Listing Office: Keller Williams Realty Evolution

MLS® Number: 73570893