1 Beds
1 Baths
508 Sqft
Note: This property is not currently for sale or rent.
Waterfront East End Condominium with private entrance & deck. Panoramic water views. Steps to the beach, walking distance to galleries, shopping & dining. Newly renovated kitchen, tile floors, ceiling fans. New heating/AC duct work, washer/dryer. Ground floor location offers full accessibility. Complex is connected to town sewer system. Pets for owners. Deeded & visitor parking. Monthly, seasonal & year-round rentals allowed.
Beds1
Baths1
Bought3/3/2023
Lot0.79 ac
Area508 ft²
Price/ft²$1,076
Built1900
StyleCondo
TypeCondominium
Central A/C0%
HeatHt-Wt/Cool Air
FuelElectric
Central VacFalse
Stories1
Flooring
Roof
ExteriorStucco
Parcel15-1-017-0-017
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 501 Commercial Street Unit U17 on January 1, 2024 was $546,600. 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 $546,600 by the weighted SP/AV ratio of properties sold subsequent to the most recent certified appraisal yields a Real Estimate of $570,345.
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 $570,345 and the value of the land is estimated at $0.
Similarly, we estimate that the current Owners’ Equivalent Rent (OER) is $1,901 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 |
|---|---|
| March 03, 2023 | $550,000 |
| August 24, 2021 | $515,500 |
| November 26, 2018 | $570,000 |
| July 10, 2009 | $409,000 |
| October 05, 2000 | $229,000 |
| September 03, 1996 | $99,000 |
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 501 Commercial Street Unit U17.
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 |
|---|---|---|---|
| 11/12/2024 | $1,100,000 | 0.6 miles | 28-32 Standish Street, Provincetown |
| 10/10/2024 | $600,100 | 0.0 miles | 493 Commercial Street Unit U1, Provincetown |
| 08/28/2024 | $295,000 | 0.5 miles | 355 Commercial Street Unit U3, Provincetown |
| 08/23/2024 | $795,000 | 0.4 miles | 381-3 Commercial Street Unit U8, Provincetown |
| 08/09/2024 | $395,000 | 0.5 miles | 355 Commercial Street Unit U4, Provincetown |
| 08/02/2024 | $880,000 | 0.9 miles | 27 Court Street Unit U1, Provincetown |
| 08/01/2024 | $1,025,000 | 0.4 miles | 379 Commercial Street Unit U16, Provincetown |
| 07/30/2024 | $795,000 | 0.2 miles | 441 Commercial Street Unit UB, Provincetown |
| 07/09/2024 | $935,250 | 0.1 miles | 481 Commercial Street Unit U5, Provincetown |
| 07/02/2024 | $400,000 | 0.6 miles | 34 Standish Street Unit U3, 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 $794,661. The typical property in this neighborhood has 824 ft² of net living area and a land size of 0.42 ac.
Block Map
| Min | Max | Avg | Subject Property | |
|---|---|---|---|---|
| Worth1 | $260,600 | $3,176,000 | $794,661 | $546,600 |
| Living Area2 | 335 ft² | 1,653 ft² | 824 ft² | 508 ft² |
| Years Since Built | 19 | 174 | 139 | 124 |
| Years of Ownership | 0 | 31 | 8 | 2 |
2 Net Living Area (NLA) in square feet
Property Types
| Property Type | Count |
|---|---|
| Residential | 62 |
| Commercial | 4 |
| Multiple Use | 3 |
Property Sub-Types
| Total Value | ||||
|---|---|---|---|---|
| Count | Property Sub-Type | Min | Max | Avg |
| 52 | Condominium | $216,300 | $1,050,600 | $550,271 |
| 5 | Residential, single family | $1,153,600 | $2,500,000 | $1,917,220 |
| 3 | Residential, two family | $1,292,400 | $1,938,500 | $1,706,300 |
| 2 | Commercial Property | $37,000 | $208,800 | $122,900 |
| 1 | Land, developable | $987,200 | $987,200 | $987,200 |
| 1 | Land, undevelopable | $5,100 | $5,100 | $5,100 |
| 1 | Small Retail and Services stores (under 10,000 sq. ft.) | $1,674,500 | $1,674,500 | $1,674,500 |
| 1 | Fraternal Organizations | $1,314,200 | $1,314,200 | $1,314,200 |
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 | 5% |
| 2022 | 11% |
| 2021 | 14% |
| 2020 | 11% |
| 2019 | 7% |
| 2018 | 9% |
| 2017 | 4% |
| 2016 | 7% |
| 2015 | 3% |
The typical property in this neighborhood has a value of $736,152. The typical property in this neighborhood as 717 ft² of net living area and a land size of 0.31 ac.
Similar Properties (433)
| Min | Max | Avg | Subject Property | Difference | |
|---|---|---|---|---|---|
| Worth1 | $46,300 | $3,176,000 | $736,152 | $546,600 | -26 % |
| Living Area2 | 0 ft² | 2,486 ft² | 717 ft² | 508 ft² | -29 % |
| Years Since Built | 9 | 2024 | 217 | 124 | -100.0 % |
| Years of Ownership | 0 | 38 | 10 | 2 | -8 |
2 Net Living Area in square feet
Property Types
| Property Type | Count |
|---|---|
| Residential | 552 |
| Commercial | 87 |
| Multiple Use | 61 |
| Tax Exempt | 34 |
| Industrial | 1 |
Property Sub-Types
| Total Value | ||||
|---|---|---|---|---|
| Count | Property Sub-Type | Min | Max | Avg |
| 395 | Condominium | $19,500 | $1,099,400 | $416,307 |
| 87 | Residential, single family | $276,400 | $2,500,000 | $747,264 |
| 55 | Commercial Property | $37,000 | $1,780,400 | $376,180 |
| 30 | Residential, two family | $416,700 | $1,938,500 | $808,373 |
| 10 | Improved, Selectmen or City Council | $331,400 | $21,636,000 | $3,322,710 |
| 9 | Small Retail and Services stores (under 10,000 sq. ft.) | $572,500 | $3,818,200 | $1,549,000 |
| 9 | Vacant, Selectmen or City Council | $13,000 | $327,800 | $190,300 |
| 8 | Apartment, 4 To 8 units | $732,300 | $2,032,100 | $1,174,387 |
| 8 | Land, developable | $274,600 | $987,200 | $395,250 |
| 8 | Land, undevelopable | $1,100 | $12,300 | $3,925 |
| 7 | Residential, three family | $538,400 | $1,840,600 | $1,020,257 |
| 7 | Parking Lots | $180,800 | $1,433,200 | $689,142 |
| 6 | Multiple Houses on one parcel | $450,500 | $2,390,600 | $1,159,516 |
| 4 | Other | $233,900 | $9,209,100 | $1,892,285 |
| 3 | Inns, Resorts or Tourist Homes | $728,800 | $1,610,600 | $1,088,266 |
| 3 | Other Storage, Warehouse and Distribution facilities | $735,700 | $809,000 | $764,266 |
| 3 | Eating and Drinking Establishments | $1,131,400 | $2,876,300 | $1,846,566 |
| 3 | Other | $233,900 | $9,209,100 | $1,892,285 |
| 2 | Accessory Land with Improvement | $49,700 | $63,000 | $56,350 |
| 2 | Fuel Service Areas - providing only fuel products | $1,232,800 | $1,344,400 | $1,288,600 |
| 2 | Cemeteries | $328,100 | $356,400 | $342,250 |
| 2 | Charitable Services | $220,300 | $374,100 | $297,200 |
| 2 | Housing Authority | $356,600 | $504,400 | $430,500 |
| 1 | Apartment, 8+ units | $1,038,100 | $1,038,100 | $1,038,100 |
| 1 | Farm Buildings | $579,100 | $579,100 | $579,100 |
| 1 | Auto Repair Facilities | $512,700 | $512,700 | $512,700 |
| 1 | Gasoline Service Stations | $1,167,300 | $1,167,300 | $1,167,300 |
| 1 | Bank Buildings | $999,100 | $999,100 | $999,100 |
| 1 | Fraternal Organizations | $1,314,200 | $1,314,200 | $1,314,200 |
| 1 | Telephone Exchange Stations | $1,007,100 | $1,007,100 | $1,007,100 |
| 1 | Improved, Education | $21,243,900 | $21,243,900 | $21,243,900 |
| 1 | Church, Mosque, Synagogue, Temple, etc. | $3,574,800 | $3,574,800 | $3,574,800 |