102 Lothrop Street

Beverly, MA 01915

$775,000
Last Sold Price
5
Beds
3
Baths
2,758 Sq. Ft.
$281 / Sq. Ft.
2,758
Sq. Ft.
$281
per Sq. Ft.

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!
  1. Listed by Derek Greene • The Greene Realty Group

Property Details for 102 Lothrop Street

Town
Beverly
Area
MA-Beverly
Garage Spaces
1
Parking Spaces
4.00
Parking Spaces Total
5

Location

Add your commute
LISTING UPDATED: 08/06/2022 06:10 AM

Property Details for 102 Lothrop Street

StatusSold
MLS #71800418
Days on Market76
Taxes$8,881 / year
HOA Fees-
Compass TypeMulti Family
MLS TypeMulti-family / 3 Family - 3 Units Up/Down
Year Built1900
CountyEssex County

Location

Add your commute

Building Information for 102 Lothrop Street

Stories6Residences3Year Built1900Building Size-Lot Size0.12 AC / 5,100 SF

Payment Calculator

$4,970 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,229

Property Taxes

$740

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 102 Lothrop Street

General Details
Property Details
  • Building Area Units: Square Feet
  • Community Features: Public Transportation, Park
  • Current Financing: FHA
  • Living Area: 2758.0
  • Total Units: 3
  • Waterfront: Yes
  • Year Built Details: Approximate
  • Year Built Source: Public Records
Features
Interior Features
  • Appliances: Unit 1(Range, Dishwasher, Disposal, Refrigerator, Washer, Dryer - ENERGY STAR), Unit 2(Range, Washer / Dryer Combo), Unit 3(Range, Gas Water Heater, Utility Connections for Gas Range, Utility Connections for Gas Oven, Utility Connections for Gas Dryer
  • Basement Features: Full, Bulkhead, Concrete Floor
  • Num of Baths: 3.0
  • Num of Full Baths: 3
  • Num of Half Baths: 0
  • Bathrooms Total Decimal: 3.00
  • Bathrooms Total Integer: 3
  • FireplaceFeatures: Unit 1(Fireplace - Wood burning)
  • FireplaceYN: Yes
  • Fireplaces: 1
  • Flooring: Hardwood, Unit 1(undefined), Unit 2(Hardwood Floors), Unit 3(Hardwood Floors)
  • Interior Features: Unit 1(Ceiling Fans, Storage, Walk-In Closet, Bathroom With Tub), Unit 1 Rooms(Kitchen, Living RM/Dining RM Combo, Office/Den), Unit 2 Rooms(Living Room, Kitchen, Unit 3 Rooms(Living Room, Kitchen)
Exterior Features
  • Construction: Frame
  • Exterior Features: Sprinkler System, Stone Wall
  • Exterior Features: Fenced Yard, Sprinkler System, Stone Wall, Porch - Enclosed, Deck - Roof, Patio
  • Fencing: Fenced
  • Patio And Porch Features: Enclosed, Deck - Roof, Patio
  • Roof Material: Shingle
  • View: Scenic View(s)
  • View: Yes
  • Waterfront Features: Waterfront, Beach Front, Ocean, 0 to 1/10 Mile To Beach, Beach Ownership(Public)
Parking Features
  • Covered Spaces: 1.00
  • Garage: Yes
  • Garage Parking: Off-Street, Paved Driveway
  • Open Parking: Yes
  • Parking Features: Off-Street, Paved Driveway
  • Parking Features: Off-Street, Paved Driveway
Utilities
  • Cooling: Unit 1(Wall AC), Unit 2(Window AC), Unit 3(Window AC)
  • Cooling: Yes
  • Electric: 220 Volts, Circuit Breakers, 100 Amp Service, Individually Metered
  • Green Energy Efficient: Thermostat
  • Heating: Unit 1(Steam, Gas), Unit 2(Steam, Unit 3(Steam
  • Heating: Yes
  • Sewer: City/Town Sewer
  • Utility Connections: for Gas Range, for Gas Oven, for Gas Dryer
  • Water: Public
Property Information
Property Info
  • Farm Land Area Units: Square Feet
  • WARRANTY: No
  • Lot Size Units: Acres
  • Road Frontage Type: Public
Tax Information
  • Tax ID: M:0012 B:0096 L:,4182534
  • Assessments: $629,400
  • Book: 27061
  • Tax Year: 2015
  • Zoning: R6
Building / Association Information
Living Characteristics
  • Beds Total: 5
  • Total Living Levels: 6
Other Building Characteristics
  • Foundation: Granite
Income / Expenses
  • Annual Expenses Source: Owner, Projected
  • GOI: $65,988.00
  • Insurance: $2,200.00
  • GRE: $20,110
  • HTE: $3,000
  • RME: $4,200
  • NOI: $45,878.00
  • Operating Expense: $20,110.00
  • WSE: $1,500.00
Complex & Association Information
  • Adult Community: No
Unit Information
Unit 1 Description
  • Floor U1: 1
  • Lease U1: Y
  • Levels U1: 1
Unit 2 Description
  • Floor U2: 2
  • Lease U2: Y
  • Levels U2: 1
Unit 3 Description
  • Floor U3: 3
  • Lease U3: Y
  • Levels U3: 1
Rental Info
Rental Info
  • Total Actual Rent: $5,499.00
Market and Agent Information
Sale Info
  • Buyer Broker Comp: 2.5%
  • Other Agent Compensation: 2.5%

Property History for 102 Lothrop Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity. Subject to change at any time. Compass makes no guarantee, warranty or representation regarding the accuracy of any waterfront feature, water view or waterfront view.

Listing Courtesy of The Greene Realty Group, Derek Greene

The property listing data and information, or the images, set forth herein were provided to MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS. The property listing data and information, and the images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc., Martha's Vineyard MLS, CCIMLS, Link MLS, and Berkshire County Board of REALTORS and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the images, set forth herein.