102 Lothrop Street
102 Lothrop Street
$775,000
5
3
2,758
2,758
$281
Sold 6/29/15
Description
Take advantage of this rare opportunity to own this North Shore seaside home in the heart of Beverly, MA. You can convert this magnificent home back to a single-family house, become an owner-occupier and take in the ocean views each day, or reap the rewards of this cash-positive and fully leased property. The house is currently a three-family residence that is fully leased through August 2015. This property is cash positive boasting a debt coverage ratio of 1.21 assuming a 4% interest rate with 25%...Take advantage of this rare opportunity to own this North Shore seaside home in the heart of Beverly, MA. You can convert this magnificent home back to a single-family house, become an owner-occupier and take in the ocean views each day, or reap the rewards of this cash-positive and fully leased property. The house is currently a three-family residence that is fully leased through August 2015. This property is cash positive boasting a debt coverage ratio of 1.21 assuming a 4% interest rate with 25% down payment – that means net income is 21% more than the mortgage payment! This also equates to a capitalization rate (cap rate) of 5.8%. If you are not looking for a pure investment as much as you are looking for a seaside manor to call you home, but want someone else to pay the mortgage, look no further. Every floor of this house has full ocean views, and there are two more units that will provide substantial income to help pay your mortgage!
- Listed by Derek Greene • The Greene Realty Group
Property Details for 102 Lothrop Street
Town
Beverly
AreaMA-Beverly
Garage Spaces1
Parking Spaces4.00
Parking Spaces Total5
Location
LISTING UPDATED: 08/06/2022 06:10 AM
Property Details for 102 Lothrop Street
Status | Sold |
---|---|
MLS # | 71800418 |
Days on Market | 76 |
Taxes | $8,881 / year |
HOA Fees | - |
Compass Type | Multi Family |
MLS Type | Multi-family / 3 Family - 3 Units Up/Down |
Year Built | 1900 |
County | Essex County |
Location
Building Information for 102 Lothrop Street
Stories6Residences3Year Built1900Building Size-Lot Size0.12 AC / 5,100 SF
Payment Calculator
$4,970 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 102 Lothrop Street
Property History for 102 Lothrop Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 102 Lothrop Street
Taxable ValueLand$777,400Additions$505,500Total$1,282,900
Tax Record2024$14,407 ($1,201 / month)
Home Facts
Baths3Total Finished SqFt2,744 SqFtAbove Grade Finished SqFt2,744 SqFtUnfinished Basement SqFt1,334 SqFtStories2Lot Size5,101 SqFtStyleTriplexYear Built1900ZoningR6CountyESSEXAPNBEVE M:0012 B:0096 L:Fireplace TypeHas Fireplace
Schools near 102 Lothrop Street
This home is within Beverly School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | 5 to 8 | |||
Public - | 9 to 12 | |||
Public - | K to 4 | |||
Public - | K to 4 |
Rating | School | Distance |
---|---|---|
Briscoe Middle School Public5 to 8 | ||
Beverly High School Public9 to 12 | ||
Ayers/Ryal Side School PublicK to 4 | ||
Cove Elementary School PublicK to 4 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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