350 Washington Street Gloucester — Photo 1 of 41
$499,900
Investment Analysis — 350 Washington Street
Gloucester, MA 01930 — Riverdale
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 01930 carries an estimated $2,560/mo in gross rent — about a 3.69% cap rate and $18,468/yr in estimated NOI at the $499,900 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
1
SqFt
1,411
Style
Single Family
Built
1900
Charming European cottage in Gloucester’s Riverdale neighborhood, tucked beneath Pole’s Hill and across from the Mill Pond and nearby sports fields. This home has been in the same ownership for nearly 50 years and is ready for its next chapter. The property offers a wonderful opportunity to update, restore and make it your own while building equity over time. Outside, a large private patio creates an inviting extension of the living space, perfect for relaxing and entertaining. Update to your taste and create something truly special in one of Gloucester’s sought after neighborhoods! SHOWINGS BEGIN AT THE OPEN HOUSES, THIS SATURDAY 9/12 AND SUNDAY 9/13 from 11:00am to 12:30pm.
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: 706 sq ft (the lesser of 900 sq ft or half the 1,411 sq ft principal dwelling). Lot size: 5,875 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 MLS and other third-party data may be inaccurate or out of date.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.
Immersive Experience
Open Houses
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Water Heater • Range • Dishwasher • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Park • Walk/Jog Trails • Medical Facility • Highway Access • House of Worship
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First19.666666666 x 10.75
Beamed Ceilings, Flooring - Wall to Wall Carpet, Window(s) - Bay/Bow/Box, Cable Hookup
Kitchen
Lvl Main,First17.666666666 x 16.583333333
Ceiling Fan(s), Flooring - Vinyl, Dining Area, Recessed Lighting
Master Bedroom
Lvl Second16.75 x 16.583333333
Flooring - Wall to Wall Carpet, Attic Access, Closet - Double
Bedroom 2
Lvl Second18.333333333 x 10.25
Bathroom 1
Lvl Main,First7.583333333 x 6.583333333
Bathroom - Full, Bathroom - With Tub & Shower
Listing Agent: Mark T. Vadala
Listing Office: Vadala Real Estate
MLS® Number: 73573696