
8 Luzitania Ave Gloucester — Photo 1 of 33
$575,000
Investment Analysis — 8 Luzitania Ave
Gloucester, MA 01930
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 2.56% cap rate and $14,700/yr in estimated NOI at the $575,000 list price. Adjust every assumption in the calculator below.
Beds
1
Baths
1.5
SqFt
2,233
Style
Single Family
Built
1944
Owned by the same family since 1970, this well well-located Gloucester home is ready for its next chapter. Offering exceptional flexibility and outstanding potential, it's an ideal opportunity to renovate and create a layout tailored to your vision. The main level features a spacious great room with vaulted ceilings, skylights, and abundant natural light, along with a living room, kitchen, sunroom, bedroom, and a dining room that could be reconfigured to suit a variety of future layouts. Both the main level and finished lower level include their own washer and dryer, adding convenience for everyday living. The finished lower level also offers a second kitchen, half bathroom, sunroom, generous living space, and a separate entrance, creating excellent potential for an in-law suite or future conversion opportunities. Buyers to perform all due diligence regarding potential future use. Outside, enjoy a fully fenced, low-maintenance oversized patio, ideal for relaxing or entertaining, along with four off-street parking spaces. Additional space alongside the home may be well suited for boat or recreational equipment storage. Ideally situated just minutes from Gloucester's vibrant downtown, beaches, harbor, restaurants, shopping, and cultural attractions, the home is approximately 0.2 miles from the new Veterans Memorial Elementary School, close to the MBTA commuter rail with direct service to Boston, offers easy access to Rt128, and is ready to be transformed into a layout that fits its next owner's vision. All offers, if any, are due by Tuesday, August 4th at noon with 24hrs for response as it is an estate sale.
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 2,233 sq ft principal dwelling). Lot size: 4,500 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
Range • Dishwasher • Refrigerator • Washer • Dryer • Range Hood
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Golf
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,FirstCeiling Fan(s), Flooring - Hardwood, Exterior Access
Dining Room
Lvl Main,FirstCloset, Flooring - Hardwood, Lighting - Overhead
Kitchen
Lvl Main,FirstCeiling Fan(s), Flooring - Hardwood, Lighting - Overhead
Master Bedroom
Lvl Main,FirstCeiling Fan(s), Closet, Flooring - Wood
Bathroom 1
Lvl Main,FirstBathroom - 3/4, Bathroom - With Shower Stall, Flooring - Stone/Ceramic Tile, Lighting - Overhead, Crown Molding
Bathroom 2
Lvl BasementBathroom - Half
Listing Agent: Henry Pizzo
Listing Office: Aluxety
MLS® Number: 73555744