7 Cove Way, Gloucester MA 01930

Gloucester, MA 01930 • Rust Island
$2,395,000
Est. $13,535/month
4
Beds
2
Baths
1,482
Sq Ft
$1,616
Price/Sq Ft
0.84
Acres
1920
Year Built
187
Days on Market
Active Price Drop -$200,000 Listed Jun 2, 2025 • MLS# 73383902 Copied!

About this home

Occupying a prime waterfront site on the Annisquam River, this property has been newly reimagined to create a luxurious year-round compound. Studs-out renovation includes new kitchen and bathrooms, 5BR septic, town water, new wiring and plumbing. The two-level home maximizes its waterfront setting with walls of windows and expansive decks. The main level has a large primary bedroom, laundry, full bath, and kitchen opening to fireplaced living and dining area. The upper level has 3 bedrooms with river views, full bath and deck. Outside, the large lot has landscaped gardens, stone walkways, exclusive tidal dock, tidal beach and storage shed. A large one-bedroom apartment over the garage allows for guests or extra income, and the oversized heated garage has space for multiple cars and/or boat. A rare opportunity to enjoy multi-generational life on the water: set up your beach chair at low tide or float on a raft at high tide in your private cove and watch the river and boats flow by

Property Overview

Property Type
Single Family Residence
Listing Type
For Sale
Year Built
1920
Bedrooms
4
Full Bathrooms
2
Living Area
1,482 sq ft
Total Rooms
7
Main Level Bedrooms
1

Facts & Features

3 Car Garage
Central AC

Home Facts

Type Residential
Style Single Family Residence
Year Built 1920
Living Area 1,482 sq ft
Lot Size 0.84 acres
Bedrooms 4
Full Baths 2
Total Rooms 7

Interior

Heating Forced Air, Propane
Cooling Central Air
Flooring Tile, Hardwood, Flooring - Wall To Wall Carpet, Flooring - Vinyl, Flooring - Stone/ceramic Tile
Appliances Water Heater, Range, Oven, Dishwasher, Microwave, Refrigerator, Washer, Dryer, Range Hood, Stainless Steel Appliance(s)
Fireplace Living Room
Fireplaces 1
Basement Partial, Crawl Space, Sump Pump, Concrete, Unfinished
Laundry Laundry Closet, Main Level, Electric Dryer Hookup, Washer Hookup, First Floor, Gas Dryer Hookup
Features Attic Access, Open Floorplan, Closet, Lighting - Sconce, Countertops - Upgraded, Kitchen Island, Recessed Lighting, Lighting - Pendant, Bathroom - Full, Bathroom - Tiled With Shower Stall, Closet - Linen, Accessory Apt., Bedroom, Kitchen, Living/dining Rm Combo, Bathroom, Internet Available - Unknown

Exterior

Construction Frame
Architecture Contemporary
Roof Shingle
Features Deck - Composite, Patio, Balcony, Rain Gutters, Storage, Professional Landscaping, Decorative Lighting, Screens, Garden, Guest House
Pool None
Spa None
Fencing None
Patio/Porch Deck - Composite, Patio

Parking

Garage Spaces 3
Has Garage Yes
Features Detached, Garage Door Opener, Storage, Garage Faces Side, Insulated, Oversized, Off Street, Driveway, Stone/gravel
Total Spaces 12

Utilities

Electric 200+ Amp Service
Water Public
Sewer Private Sewer
Gas None
Other For Gas Oven, For Gas Dryer, Washer Hookup

Financial

Annual Tax $14,694
Assessed Value $1,510,200

Interior Features

Flooring: Tile, Hardwood, Flooring - Wall to Wall Carpet, Flooring - Vinyl, Flooring - Stone/Ceramic Tile
Appliances: Water Heater, Range, Oven, Dishwasher, Microwave, Refrigerator, Washer, Dryer, Range Hood, Stainless Steel Appliance(s)
Interior Features: Attic Access, Open Floorplan, Closet, Lighting - Sconce, Countertops - Upgraded, Kitchen Island, Recessed Lighting, Lighting - Pendant, Bathroom - Full, Bathroom - Tiled With Shower Stall, Closet - Linen, Accessory Apt., Bedroom, Kitchen, Living/Dining Rm Combo, Bathroom, Internet Available - Unknown
Windows: Window(s) - Picture, Insulated Windows, Screens
Basement: Partial, Crawl Space, Sump Pump, Concrete, Unfinished
Laundry: Laundry Closet, Main Level, Electric Dryer Hookup, Washer Hookup, First Floor, Gas Dryer Hookup
Security:

Construction & Materials

Style: Contemporary
Year Built: 1920
Structure Type:
Exterior Materials: Frame
Roof: Shingle
Foundation: Block

Heating, Cooling & Utilities

Heating: Forced Air, Propane
Heating Zones: 2
Cooling: Central Air
Cooling Zones: 2
Hot Water:
Water Source: Public
Sewer: Private Sewer
Energy Features: Thermostat

Exterior & Lot

Exterior Features: Deck - Composite, Patio, Balcony, Rain Gutters, Storage, Professional Landscaping, Decorative Lighting, Screens, Garden, Guest House
Patio & Porch: Deck - Composite, Patio
Fencing:
Other Structures: Guest House
Lot Features: Additional Land Avail., Gentle Sloping, Level
Road Surface:

Parking & Garage

Garage Spaces: 3
Total Parking Spaces: 12
Parking Features: Detached, Garage Door Opener, Storage, Garage Faces Side, Insulated, Oversized, Off Street, Driveway, Stone/Gravel

Special Features

Fireplaces: 1
Fireplace Type: Living Room
Waterfront: Yes
Waterfront Type: Waterfront, Navigable Water, River, Dock/Mooring, Frontage, Walk to, Access, Direct Access, Private, Beach Access, Ocean, Sound, 1 to 2 Mile To Beach, Beach Ownership(Public)
View: Yes
View Type: Scenic View(s)
Community Amenities: Public Transportation, Shopping, Tennis Court(s), Walk/Jog Trails, Golf, Medical Facility, Conservation Area, Highway Access, House of Worship, Marina, Public School, T-Station

Location

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Neighborhood

Rust Island

7 Cove Way, Gloucester MA 01930

Gloucester, MA 01930

Walkability

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Schools

Elementary School
West Parish
Rating information coming soon
Middle School
Omalley
Rating information coming soon
High School
Ghs
Rating information coming soon

Monthly Payment Calculator

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Including down payment
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Down: $0
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Monthly Payment Breakdown

Principal & Interest $0
Property Tax $1,225
Homeowners Insurance $200
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

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Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Property History

Property Timeline

🏠
Listed for Sale
Jun 2, 2025
$2,395,000
Original listing
Agent: Amanda Armstrong Group Office: Compass

Price & Status History

Date Event Price Change
Jun 2, 2025 New Listing Added $2,395,000

Market Statistics

Days on Market
187 days
Price per Sq Ft
$1,616
Total Price Drop
-$200,000

Tax History

Year Taxes Assessment
2025 $14,694 $1,510,200

Financial Details

Annual Property Tax
$14,694
Tax Year 2025
Assessed Value
$1,510,200

Listing Information

Listing Agent Amanda Armstrong Group
Listing Office Compass
Agent MLS ID TM337166
Office MLS ID AN6818
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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