2 Beds
1 Baths
579 Sqft
Note: This property is not currently for sale or rent.
Imagine waking up in the morning with your first cup of coffee and walking just steps to the beach, watching the sunrise and deciding which restaurant to have dinner this evening?? You can from this spacious 2 bedroom condo located in the well known Bayshore condo association in Provincetown's East-end. Bayshore is professionaly managed so property owners can focus on enjoying their special, well earned vacation and earning tremendous rental income. Being in Bayshore's waterfront complex allows you to enjoy the beach and attract renters looking for a relaxing, sun-filled beach vacation. To make life easier, the condo fee includes heat, electricity, cable, master insurance. This home is the lowest priced 2 bedroom unit currently available at Bayshore. Come on in! Grab your beach towel
Beds2
Baths1
Bought8/10/2018
Lot0.15 ac
Area579 ft²
Price/ft²$1,030
Built1850
StyleCondo
TypeCondominium
Central A/C0%
HeatHot Water
FuelOil
Central VacFalse
Stories1
Flooring
Roof
ExteriorWood Shingle
Parcel15-1-031-1-016
Our Real Estimate™ is an estimate of the current market value of a home. To arrive at an estimate, the most recent certified appraisal is marked to market by considering when the most recent certified appraisal was performed and the weighted sale-price(SP)-vs-appraised-value(AV) ratios of all subsequently sold, comparable properties within the same zip code.
The formula for the estimate follows the sales comparison (market) approach which is an approach based on the principles of supply and demand (principle of change) and the principle of substitution. The principle of substitution assumes that a prudent person will pay no more for a property than it would cost to purchase a comparable substitute property. A local real estate expert should be consulted to refine the Real Estimate as s/he will consider factors that are impossible to capture in a computer algorithm.
The certified market value of 488-90 Commercial Street Unit U16 on January 1, 2024 was $596,600. Subsequently, a total of 127 comparable properties have been sold. The weighted SP/AV ratio of those properties is 1.24. Multiplying the most recent certified appraised value of $596,600 by the weighted SP/AV ratio of properties sold subsequent to the most recent certified appraisal yields a Real Estimate of $476,034.
The most recent certified appraisal estimated that the value of the building was 100% of the total value of the entire property and that the land was worth 0%. If we assume the same ratio of the value of the building and land to the total value of the property, the current estimated value of the building is $476,034 and the value of the land is estimated at $0.
Similarly, we estimate that the current Owners’ Equivalent Rent (OER) is $2,182 per month. Owners’ equivalent rent (OER) is the amount of rent that would need to be paid to substitute a currently owned house as a rental property. This value is also referred to as rental equivalent. It is a commonly cited measure that provides a gauge for changes in real estate market values.
We have used an algorithm that applies an OER factor of between 4 and 7.5% of the current market value of a property, depending on the value of the property, to arrive at the OER. An OER answers the question, "If someone were to rent your home today, how much would it rent for monthly, unfurnished and without utilities?" A local real estate expert should be consulted to refine the OER.
| Date | Price |
|---|---|
| September 28, 2017 | $390,000 |
| April 12, 2013 | $245,000 |
| August 12, 2010 | $285,000 |
| September 22, 1997 | $175,000 |
The concerned Registry of Deeds is responsible for recording all real estate transactions and is the source of the following information on sold properties. The table below lists key information about the 10 most recent Arm’s Length Sales in proximity to 488-90 Commercial Street Unit U16.
In real estate, an arm's length transaction is when the buyer and seller each act in their own self-interest to try to get the best deal they can. In most sales, a seller is trying to make a large profit, while the buyer is trying to pay the least amount of money possible. To resolve this discrepancy, both sides agree to meet in the middle and sell the home for its fair market value. In fact, this is how most real estate transactions play out.
| Date | Price | Distance | Address |
|---|---|---|---|
| 11/15/2024 | $1,350,000 | 0.0 miles | 484 Commercial Street Unit U2, Provincetown |
| 11/04/2024 | $530,000 | 0.4 miles | 156 Bradford Street Unit U2, Provincetown |
| 10/31/2024 | $925,000 | 0.3 miles | 9 Youngs Court Unit U2, Provincetown |
| 10/29/2024 | $2,000,000 | 0.3 miles | 406 Commercial Street Unit U1, Provincetown |
| 10/29/2024 | $2,000,000 | 0.3 miles | 406 Commercial Street Unit U2, Provincetown |
| 10/29/2024 | $2,000,000 | 0.3 miles | 406 Commercial Street Unit U3, Provincetown |
| 10/18/2024 | $425,000 | 0.2 miles | 422 Commercial Street Unit U6, Provincetown |
| 10/16/2024 | $2,750,000 | 0.3 miles | 6 Dyer Street, Provincetown |
| 09/30/2024 | $750,000 | 0.3 miles | 23 Harry Kemp Way Unit UC, Provincetown |
| 09/30/2024 | $1,559,000 | 0.3 miles | 6 Priscilla Alden Road, Provincetown |
The average commute time to work in the U.S. is 25.4 minutes, according to the Census Bureau. Over 10 million Americans travel more than an hour each way to work.
As the minutes add up, so do travel costs and indirectly the value of a home. According to research by Lifehacker, each mile you live from work adds $795 per year to your commuting costs. So, for example, a 30-minute commute saves the homeowner a whopping $23,850 annually comparted to a 1-hour commute.
Click on the thumbnails below to map a route to the closest highway exit, park ‘n ride or airport. The green marker is placed on and the red marker is placed on the destination.
A growing number of studies have determined transport accessibility levels to healthcare using geographical information system (GIS) techniques, by mapping car and public transport travel times and distances to healthcare facilities. Proximity to health care services has a significant impact on the value of a home.
Click on the thumbnails below to map a route to the closest hospital, long-term care facility or community health center. The green marker is placed on and the red marker is placed on the destination.
The location of the nearest fire and police stations affects the perceived value of a home. Nearby public safety services add a valuable sense of neighborhood security. Also, a firehouse nearby might well mean lower homeowners insurance premiums.
Click on the thumbnails below to map a route to the closest police and fire stations. The green marker is placed on and the red marker is placed on the destination.
Open space provides recreational areas for residents and helps to enhance the beauty and environmental quality of neighborhoods. There have been a number of studies on the impact of open space preservation on the value of residential property. Most studies have found that preserving open space land generally, but not always, increases the property value of nearby homes. The studies use a variety of methods to determine this, and consider such variables as the type, location, and use of the open space, and the residential property in question.
Click on the thumbnails below to map a route to potential and certified vernal pools and to natural communities. The green marker is placed on and the red marker is placed on the destination.
Outdoor recreation is a powerful economic engine, generating more than $887 billion in consumer spending in the United States. It also benefits public health, quality of life, property values, and the local tax base, generating $59.2 billion in local and state tax revenue.
Click on the thumbnails below to map a route to outdoor recreational resources. The green marker is placed on and the red marker is placed on the destination.
Hazardous waste can have serious ramifications on the value of the subject property, not to mention the values of surrounding properties and neighborhoods.
Click on the thumbnails below to map a route to the closest hazardous waste site and underground storage tank. The green marker is placed on and the red marker is placed on the destination.
Provincetown Schools Elementary School in Provincetown, Massachusetts (MA) serves 111 students in grades PK-8. Find data, reviews and news about this school.
The late Lord Harold Samuel, a real estate tycoon in Britain, coined the expression: ‘There are three things that matter in property: location, location, location’ and it is as true today as it was 100 years ago. In an effort to help you better understand the surroundings of we make use of the concerned Blocks and Block Groups, as defined by the U.S. Census Bureau, to group nearby properties and then analyze and summarize their characteristics.
The Block that is a part of is comprised of 0 properties of which 0 (0%) are residential properties.
The property with the longest running occupancy, by the current owner, is which has been owned by the same owner for years.
Conversely, the most recently purchased property in the neighborhood was . It was purchased on 01/01/0001 for $0 and has an estimated market value of $0.
The typical property in this neighborhood has a value of $732,982. The typical property in this neighborhood has 671 ft² of net living area and a land size of 0.15 ac.
Block Map
| Min | Max | Avg | Subject Property | |
|---|---|---|---|---|
| Worth1 | $405,500 | $1,387,400 | $732,982 | $596,600 |
| Living Area2 | 290 ft² | 1,760 ft² | 671 ft² | 579 ft² |
| Years Since Built | 9 | 188 | 154 | 174 |
| Years of Ownership | 0 | 23 | 9 | 6 |
2 Net Living Area (NLA) in square feet
Property Types
| Property Type | Count |
|---|---|
| Residential | 23 |
| Tax Exempt | 3 |
| Commercial | 3 |
Property Sub-Types
| Total Value | ||||
|---|---|---|---|---|
| Count | Property Sub-Type | Min | Max | Avg |
| 14 | Condominium | $213,600 | $602,900 | $341,950 |
| 7 | Residential, single family | $559,700 | $1,613,200 | $977,700 |
| 2 | Commercial Property | $355,600 | $1,237,500 | $796,550 |
| 2 | Improved, Selectmen or City Council | $335,600 | $394,700 | $365,150 |
| 1 | Residential, three family | $838,500 | $838,500 | $838,500 |
| 1 | Apartment, 4 To 8 units | $1,091,000 | $1,091,000 | $1,091,000 |
| 1 | Miscellaneous Public Services | $701,000 | $701,000 | $701,000 |
| 1 | Other | $884,400 | $884,400 | $884,400 |
Block Group Map
Turn Over
Real estate turnover is the frequency as which homes in a given neighborhood sell and is an important characteristic of the “churn” within a neighborhood. Turnover rates vary from location to location. According to the National Association of Home Builders, the average homeowner plans to move every 13 years, with younger first-time homebuyers relocating slightly more frequently.
The Block Group that is a part of is comprised of 0 properties of which 0 (0%) are residential properties. Over the last 10 years, the annual rate of turnover has been as follows:
| Year | Turnover (%) |
|---|---|
| 2024 | 3% |
| 2023 | 7% |
| 2022 | 9% |
| 2021 | 6% |
| 2020 | 7% |
| 2019 | 3% |
| 2018 | 3% |
| 2017 | 5% |
| 2016 | 5% |
| 2015 | 4% |
The typical property in this neighborhood has a value of $802,394. The typical property in this neighborhood as 860 ft² of net living area and a land size of 0.34 ac.
Similar Properties (396)
| Min | Max | Avg | Subject Property | Difference | |
|---|---|---|---|---|---|
| Worth1 | $103,400 | $2,302,900 | $802,394 | $596,600 | -26 % |
| Living Area2 | 0 ft² | 2,916 ft² | 860 ft² | 579 ft² | -33 % |
| Years Since Built | 8 | 2024 | 158 | 174 | 0.0 % |
| Years of Ownership | 0 | 40 | 9 | 6 | -3 |
2 Net Living Area in square feet
Property Types
| Property Type | Count |
|---|---|
| Residential | 568 |
| Commercial | 26 |
| Multiple Use | 24 |
| Tax Exempt | 19 |
Property Sub-Types
| Total Value | ||||
|---|---|---|---|---|
| Count | Property Sub-Type | Min | Max | Avg |
| 335 | Condominium | $26,000 | $1,184,400 | $418,686 |
| 125 | Residential, single family | $249,200 | $1,637,800 | $737,158 |
| 39 | Residential, two family | $507,900 | $1,339,600 | $838,764 |
| 24 | Multiple Houses on one parcel | $496,900 | $1,635,200 | $893,170 |
| 20 | Commercial Property | $22,600 | $1,237,500 | $347,755 |
| 14 | Land, undevelopable | $1,500 | $14,400 | $7,800 |
| 12 | Apartment, 4 To 8 units | $467,100 | $1,113,100 | $935,641 |
| 9 | Residential, three family | $656,400 | $1,448,800 | $969,055 |
| 6 | Land, developable | $256,300 | $351,700 | $294,350 |
| 6 | Other | $537,300 | $3,195,000 | $1,694,250 |
| 4 | Vacant, Selectmen or City Council | $15,000 | $301,400 | $194,750 |
| 3 | Accessory Land with Improvement | $62,400 | $378,900 | $181,100 |
| 2 | Facilities providing building materials and equipment | $597,700 | $1,728,500 | $1,163,100 |
| 2 | Division of Fisheries and Wildlife, DFW Environmental Law Enforcement, Department of Environmental Protection | $208,500 | $211,400 | $209,950 |
| 2 | Improved, Selectmen or City Council | $335,600 | $394,700 | $365,150 |
| 2 | Vacant, Conservation Organizations | $298,700 | $305,300 | $302,000 |
| 2 | Housing Authority | $1,166,400 | $5,703,800 | $3,435,100 |
| 1 | Apartment, 8+ units | $889,400 | $889,400 | $889,400 |
| 1 | Inns, Resorts or Tourist Homes | $2,038,000 | $2,038,000 | $2,038,000 |
| 1 | Other Storage, Warehouse and Distribution facilities | $527,800 | $527,800 | $527,800 |
| 1 | General Office Buildings | $605,900 | $605,900 | $605,900 |
| 1 | Miscellaneous Public Services | $701,000 | $701,000 | $701,000 |
| 1 | Hospitals | $2,131,100 | $2,131,100 | $2,131,100 |