Gloucester Homes under $500,000

Welcome to Gloucester, Massachusetts, a picturesque coastal city nestled in Essex County that beautifully marries the charm of New England with a vibrant maritime heritage. Known for its stunning beaches, bustling harbor, and rich history, Gloucester offers a unique lifestyle that attracts both residents and visitors alike. Whether you’re an art enthusiast, a seafood lover, or someone who appreciates the great outdoors, this city has something for everyone.

Gloucester is renowned for its breathtaking views, from the iconic Rocky Neck Art Colony to the serene sands of Good Harbor Beach. The city boasts a thriving community with a variety of local shops, restaurants, and cultural events that showcase its rich fishing history. Outdoor enthusiasts can enjoy hiking trails, whale watching tours, and the scenic beauty of Cape Ann, making it a perfect destination for those who love nature.

For homebuyers, Gloucester presents an exciting opportunity with a selection of charming homes available for under $500,000. This price point opens the door to a variety of options, from quaint single-family homes to cozy condos, all set against the backdrop of this stunning coastal city. Imagine waking up to the sound of waves and the salty breeze, all while being part of a tight-knit community that celebrates its heritage.

Whether you’re looking to invest in a vacation home or seeking a permanent residence, Gloucester offers an array of affordable housing options that allow you to experience the best of coastal living without breaking the bank. Come explore all that this enchanting city has to offer—your dream home awaits in Gloucester!

Newest Gloucester Homes under $500,000

$329,000

1 Beds ⋅ 1 Baths ⋅ 73581794 MLS ⋅ ['Harborview Condominium'] BLDG.

Enjoy carefree coastal living in this beautifully renovated 1-bedroom, 1-bath condominium located in a professionally managed, elevator-serviced building in Gloucester's beautiful village of Magnolia! Just moments from the beach and ocean, this light-filled, one-level home offers stylish updates throughout and a highly sought-after low-maintenance lifestyle.The stunning kitchen features stainless steel appliances, soft-close cabinetry with a sophisticated stone finish, quartz countertops, a classic white subway tile backsplash, recessed lighting, and under-cabinet illumination. The thoughtfully renovated bathroom showcases a tiled walk-in shower with glass enclosure, radiant heated tile flooring, pedestal sink, and updated fixtures.Beautiful wide pine flooring extends throughout the living room, kitchen, and bedroom, creating warmth and character. A newer sliding glass door opens to a private covered balcony, the perfect place to relax and enjoy refreshing ocean breezes and picturesque sunset views.Additional amenities include deeded parking for one vehicle, common laundry facilities, and a dedicated lower-level storage closet. Ideal for downsizers, second-home buyers, or anyone seeking easy living by the sea, this move-in-ready home offers the perfect blend of comfort, style, and coastal charm.

44 Lexington Ave Unit 37, Gloucester

$275,000

2 Beds ⋅ 1 Baths ⋅ 73580922 MLS

Opportunity awaits in Gloucester’s Portuguese Hill neighborhood. Bring your vision, creativity, and ideas to 3 Sadler Street, a 2-bedroom, 1-bath property offering investors, contractors, and buyers an exciting chance to reimagine the property and explore its possibilities. The location is the standout, set in a historic Gloucester neighborhood with convenient access to Route 128, Gloucester Crossing Shopping Plaza, East Gloucester Veterans Memorial School, Good Harbor Beach, Downtown Gloucester, and all that Cape Ann has to offer. The property is currently non-habitable and requires renovation, making this an opportunity best suited for those ready to bring fresh vision and new life to the property. Buyers and buyer agents are responsible for performing their own due diligence regarding the property, potential uses, permitting, and condition. No entry without executed release. Evidence of nesting wildlife. Buyer and Buyers Agents to do due diligence regarding zoning and razing the building.

3 Sadler Street, Gloucester

$400,000

2 Beds ⋅ 1 Baths ⋅ 73580286 MLS

Stunning water views await from this open and spacious 2-bedroom featuring an oversized private deck, generous closet space, and the convenience of elevator access tucked away in the Magnolia neighborhood of Gloucester. Condo living doesn't get much easier at this price point. Park in your exclusive-use parking space located right next to the building entrance, take the elevator to the fourth floor, and enjoy breathtaking ocean views from the open-concept kitchen, living, and dining area. Start your mornings with a cup of coffee on your private deck, perched high above the sea. The home offers two well-proportioned bedrooms, ample in-unit storage, additional basement storage, and a brand-new laundry room. This well-maintained, professionally managed building also features on-site maintenance, making for truly easy, low-maintenance living at a very reasonable price.

44 Lexington Ave Unit 42, Gloucester

$299,000

1 Baths ⋅ 73578740 MLS ⋅ ['Ocean Breeze Condominiums'] BLDG.

A little piece of New England history is waiting for you by the cliffs of Cape Ann. Experience a true gem of North Shore living in Gloucester’s famed Magnolia neighborhood. Located on the site of the legendary Grande Dame Oceanside Hotel, this charming and cozy studio brings coastal living right to your doorstep—for just $299K! Step outside to sweeping views of the Atlantic Ocean in one direction and Magnolia’s beloved shops, restaurants, library, and post office in the other. And that’s only the beginning. Nearby beaches include Gray Beach, Black Beach, and Singing Beach, while the scenic Coolidge Reservation and Rafe’s Chasm are just minutes away. A true nature lovers paradise! For the perfect end to the day, stroll down Magnolia Pier and take in a beautiful sunset. Back home, enjoy convenient private parking, dedicated storage for your beach and outdoor gear, and a covered porch—the perfect spot for a relaxing meal or drink. Come see what makes this opportunity so special. Open houses: Saturday, 9/19, from 10:00–11:30 a.m. and Sunday, 9/20, from 11:00 a.m.–12:30 p.m.

54 Lexington Ave Unit 32, Gloucester

$420,000

2 Beds ⋅ 2 Baths ⋅ 73576904 MLS

Accepting offers on this sweet East Gloucester retreat situated on a peaceful street with no through traffic. Large kitchen lends itself nicely to serve family and friends in the dining room or adjacent sunroom. Whether you choose to enjoy this home as it is or to renovate and reimagine the space, the location is the key. Outside, enjoy a fenced in and terraced yard with garden and private patio area - perfect for a BBQ or simply relaxing. Conveniently located near Gloucester's beautiful beaches, the commuter rail and all that Cape Ann has to offer.

30R Highland Street, Gloucester

$499,900

2 Beds ⋅ 1 Baths ⋅ 73573696 MLS

Charming European cottage in Gloucester’s Riverdale neighborhood, tucked beneath Pole’s Hill and across from the Mill Pond and nearby sports fields. This home has been in the same ownership for nearly 50 years and is ready for its next chapter. The property offers a wonderful opportunity to update, restore and make it your own while building equity over time. Outside, a large private patio creates an inviting extension of the living space, perfect for relaxing and entertaining. Update to your taste and create something truly special in one of Gloucester’s sought after neighborhoods! SHOWINGS BEGIN AT THE OPEN HOUSES, THIS SATURDAY 9/12 AND SUNDAY 9/13 from 11:00am to 12:30pm.

350 Washington Street, Gloucester

$409,000

1 Beds ⋅ 2 Baths ⋅ 73573446 MLS

Absolutely adorable and newly renovated 1 bedroom 1.5 bath adobe style bungalow with an extra bonus room which could serve as a home office, studio, or guest room. This one level home located downtown Gloucester, is perfect as a condo alternative convenient to many restaurants, music venues, the train station, churches and Gloucester harbor and beaches... all just a short distance away! Many improvements include kitchen, dining area, new remodeled interior walls, ceiling, and new floors. The washer dryer has been moved upstairs to the living level. In addition, the full basement offers plenty of storage. This cozy home is in move in condition and just waiting for you!

139A Prospect St., Gloucester

$274,900

2 Beds ⋅ 1 Baths ⋅ 73570916 MLS ⋅ ['Cleveland Place'] BLDG.

Welcome to 16 Cleveland Place, Unit 8, a first-floor corner unit tucked away in a quiet, well-maintained Gloucester community. With windows on three sides and a wooded setting just outside, this 2-bedroom, 1-bath condo offers plenty of natural light, privacy and a comfortable layout. Move right in and enjoy as-is, or bring your own style and updates over time. The unit features in-unit laundry, a back door leading to a wooded patio area, and an assigned parking space directly in front. All major appliances are included, including the refrigerator, range, microwave, dishwasher, washer and dryer. Enjoy a peaceful setting on a dead-end street while remaining close to downtown Gloucester, the commuter rail, waterfront, beaches and Route 128. Condo fee includes water, master insurance, exterior maintenance, landscaping, snow removal, trash removal and more. Pets permitted with restrictions. A great opportunity for easy, low-maintenance living on the North Shore.

16 Cleveland Place Unit 8, Gloucester

$325,000

1 Baths ⋅ 73569899 MLS

Prime Downtown Gloucester Residential/ Commercial Opportunity! This stand alone commercial condominium offers a rare opportunity to own a distinctive property in the heart of Gloucester. Ideally located on Washington Street, this versatile property is well suited for an owner user, professional office, retail, service business, or investor looking to establish a presence in one of Cape Ann’s most vibrant communities. The layout provides excellent visibility and flexibility, potential for residential expansion while the central location offers convenient access to downtown Gloucester, Main Street, the waterfront, restaurants, shops, and local amenities. With its unique character and outstanding location this property presents an exciting opportunity to own commercial real estate in downtown Gloucester. Explore the possibilities and bring your business vision to life!

27 Washington St Unit 27, Gloucester

$295,500

1 Beds ⋅ 1 Baths ⋅ 73565388 MLS

Welcome to The Heights of Gloucester! This charming one-bedroom condo offers coastal living with beautiful elevated views overlooking the Annisquam River. Ideally located just minutes from all that historic Gloucester has to offer, including its beaches, restaurants, shops, and vibrant downtown.Enjoy an array of wonderful community amenities, including a beautiful in-ground pool, clubhouse, grilling area with fire pit, and fitness center. Inside you have an eat in kitchen w/stainless steel appliances, nice size living room to relax in and ample closet space. With so much to offer, this is an opportunity you won’t want to miss—all for just $295,500!

145 Essex Avenue Unit 405, Gloucester

$475,900

3 Beds ⋅ 1 Baths ⋅ 73562740 MLS

Welcome to this 3-bedroom 1-bathroom home offering a functional lay out and great everyday convenience. The open concept dining area creates an easy flow for entertaining and daily living, while a wood stove hookup adds cozy potential for the colder months. The first floor features a comfortable bedroom, ideal for home office or guest room. Upstairs you'll find two additional bedrooms with generous closet space. Two parking spaces provide off street parking convenience and the proximity to transportation makes commuting a breeze. Enjoy easy access to the ocean, area beaches and the beautiful grounds of Stage Fort Park - perfect for morning walks, sunset views and making the most of New England living. Don't miss this opportunity to own a home in one of the North Shore's most charming coastal communities.

8 Sylvan Street, Gloucester

$304,900

2 Beds ⋅ 1 Baths ⋅ 73551541 MLS

Welcome to the Residences at Cape Ann! Top floor Garden-level 2-bedroom, 1-bathroom condo with 2 deeded off-street parking spaces and river views on Cape Ann. This 733-square-foot unit features a brick exterior, a porch, hot water baseboard heat, and wall AC. The condo fee includes heat, hot water, water, sewer, master insurance, and access to the swimming pool, exercise room, clubroom, and on-site laundry with river views. Access nearby to Rt. 128 which connects to the North Shore and Greater Boston, and the Gloucester commuter rail station is a short drive away. A solid entry point into condo ownership in Gloucester!

145 Essex Ave Unit 424, Gloucester

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