📊 Sample Property Report
⚡ BLUF (Bottom Line Up Front)
5BR/5BA Beverly home sold for $1.13M ($223/sqft) in 76 days. Tier 3 North Shore suburb with 5,072 sqft on 2.51 acres.
KISS Takeaway: Extended 76-day market time. Fair market pricing at $223/sqft with exceptional land value (2.51 acres).
📊 Property Metrics
Price/SqFt
$223
Excellent value
Days on Market
76
Extended timeframe
Lot Size
2.51
Acres - Exceptional land
📝 Property Synopsis
This 5,072 square foot 5-bedroom, 5-bathroom single family at 476 Essex St, Beverly, MA 01915 sold for
$1,130,000 in July 2025. Located in Beverly, a Tier 3 North Shore suburb,
the property spent 76 days on market. Situated on 2.51 acres, it sold at
$223/sqft, -0.4% below Zestimate ($1,134,000) and +25.0% above tax assessed value ($904,300).
💰 Valuation Analysis
| Metric |
Value |
vs. Sale Price |
Insight |
| Sale Price |
$1,130,000 |
— |
Market clearing price |
| Zestimate |
$1,134,000 |
-0.4% |
Aligned with market estimate |
| Tax Assessed |
$904,300 |
+25.0% |
Strong premium over assessment |
🌳 Land Value - The Hidden Gem
🏆 Land Value Leader: At 2.51 acres, this property offers exceptional land value.
Breaking down the numbers: $1.13M for 5,072 sqft + 2.51 acres = approximately $450K land value ($179K/acre).
Land Comparison Analysis
| Property |
Lot Size |
Sale Price |
Est. Land Value |
| 476 Essex St, Beverly |
2.51 acres |
$1.13M |
~$450K |
| Carlisle (84 West St) |
10.11 acres |
$2.01M |
~$1.2M |
| Stoughton (30 James Massey) |
1.26 acres |
$1.80M |
~$200K |
🎯 Market Context
Tier 3: Short CR Commute + Adequate Schools
Beverly is classified as a Tier 3 suburb - North Shore location with
commuter rail access to Boston. While schools are adequate (not elite 9-10 rated), the commute accessibility and
coastal proximity provide strong value proposition.
✅ Location Advantages
- North Shore: Coastal community appeal
- Commuter Rail: Direct Boston access
- Land Value: 2.51 acres - rare at this price
- Price Point: $223/sqft vs. $324 median
⚠️ Considerations
- Schools: Not elite tier (adequate ratings)
- Market Time: 76 days - patient buyers
- North Shore: Different vibe than MetroWest
💡 Investment Insights
The Land Play Strategy
This property represents a classic "land bank" investment opportunity.
At 2.51 acres, future subdivision potential or development opportunities could exist (subject to zoning).
Even without development, large lots in established suburbs appreciate consistently.
📈 Market Positioning: Properties with 2+ acres in the dataset showed strong sales despite
higher absolute prices. Beverly's coastal proximity and commuter access make this especially attractive.
Value Comparison
- vs. Newton (Tier 4): $223/sqft vs. $562/sqft = 60% savings
- vs. Market Median: $223/sqft vs. $324/sqft = 31% savings
- Land Premium: 2.51 acres at accessible price point
👥 Ideal Buyer Profile
Perfect For:
- North Shore Lovers: Coastal lifestyle preference
- Land Investors: Value 2.51 acres of space
- Commuter Rail Users: Direct Boston access
- Value Buyers: Save 31% vs. median $/sqft
- Privacy Seekers: Large lot provides seclusion
Consider Alternatives If:
- Elite schools (9-10 rating) are non-negotiable
- Prefer MetroWest over North Shore
- Need quick resale liquidity (expect 60-90 days)
- Want modern, turnkey condition (may need updates)
🎯 Key Takeaways
Value Proposition
- 31% savings vs. market median $/sqft
- Exceptional land value at 2.51 acres
- North Shore coastal proximity
- Commuter rail direct to Boston
Investment Strategy
- Long-term hold for land appreciation
- Potential subdivision/development (check zoning)
- Expect 60-90 day marketing window
- Target North Shore preference buyers
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Sample Property Report | Data Source: Zillow Recent Sales | Analysis Date: October 9, 2025
Listing URL: View on Zillow