187 Burrill Street
Unit 2
187 Burrill Street, Unit 2 is a four-bedroom, two-bath Victorian-style condominium townhouse spanning 1,840 square feet across two levels in a sought-after residential pocket of Swampscott. The property is listed at $599,900 as a FSBO through an entry-only brokerage arrangement, meaning the seller is managing negotiations directly. The reported presence of a competing offer warrants prompt, well-structured action.
Based on a thorough review of recent comparable sales in the Swampscott condo market, this property is priced at or slightly below fair market value. The $599,900 list price represents approximately $326/sq ft — a meaningful discount relative to similarly situated units that have recently closed in the $400–$575/sq ft range. The differential is largely explained by this unit's age, configuration (a 4BR spread over Victorian-era bones), and the absence of a fully updated kitchen. Still, the size, character, location, and proximity to King's Beach make this a genuine value for the right buyer.
This is an exceptionally spacious Victorian-era townhouse in the heart of Swampscott — the kind of property that simply doesn't come along often in this market. The unit spans two full levels with a gracious layout that includes soaring ceilings, original crown moldings, hardwood floors, and abundant natural light. One fireplace anchors the living room, and a sunroom extends the usable living space on the main level.
The home sits within walking distance of King's Beach — a beautiful stretch of North Shore coastline — and is steps from the iconic Swampscott commuter rail station, offering a direct MBTA connection into Boston's North Station. Aerial photos reveal broad ocean views visible from upper-floor windows, adding a lifestyle premium that doesn't fully appear in the numbers.
Recent updates include a new gas furnace (2024), replacement of first-floor windows (2022), and an architectural shingle roof under 8 years old — all meaningful capital improvements that reduce buyer risk near-term. The kitchen and upper-floor bathroom reflect the home's vintage character and have not been substantially updated, which factors into the value analysis. Two deeded off-street parking spaces are a practical advantage in a dense neighborhood.
The $60/month HOA covers only master insurance, and there are no special assessments reported — a very lean and favorable condo structure with just 2 units, both owner-occupied.
The Swampscott condominium market remains competitive through spring 2026. Inventory is thin — particularly for larger, well-located units — and buyer demand along the North Shore continues to be driven by MBTA access and proximity to Boston, coastal lifestyle appeal, and relative affordability compared to the South Shore and inner suburbs. Properties at desirable price points are moving quickly when properly positioned.
Recent closings in Swampscott confirm a wide per-square-foot range ($406–$575) depending on age, condition, and finish level. Newer construction commands a premium: 100 Burrill Street, Unit 3 (built 2014) closed at $575/sq ft in May 2026 — the highest recent data point. Older Victorian and mid-century units trade lower, but buyer appetite for character homes with space remains strong.
Interest rates in spring 2026 remain in the 6.5–7% range for conventional 30-year mortgages, which compresses some buyer purchasing power but has not significantly dampened competition at this price point. Buyers in the $599K–$630K range are typically well-qualified and often competing with other motivated buyers. The entry of spring inventory has modestly increased choice for buyers, but desirable properties still attract multiple offers in the first week.
The FSBO listing format is an additional market factor here. Entry-only FSBO listings tend to underprice because sellers rely on Zestimates or AVM tools rather than full CMA analysis — creating opportunity for buyers who act quickly, but also risk in a competitive environment because other buyers may bid aggressively knowing the price may be soft.
The following closed sales represent the most relevant recent market evidence for 187 Burrill St, Unit 2. Given the subject's distinctive profile — a large Victorian 4-bedroom condo — the comp pool is limited and requires careful interpretation. No single sale is a perfect match, so adjustments are applied to reflect differences in size, age, condition, and bedroom count.
| Address | Status | Sale Date | Price | Beds / Baths | Sq Ft | $/Sq Ft | Dist. | Year Built | Key Notes |
|---|---|---|---|---|---|---|---|---|---|
| 187 Burrill St #2 | Subject | — | $599,900 | 4 / 2 | 1,840 | $326 | — | 1890 | Victorian, renovated, near beach, FSBO |
| 11 Kings Beach Ter #2 | Closed | Oct 2025 | $625,000 | 3 / 2 | 1,907 | $328 | 0.33 mi | 1935 | Best comp. Similar vintage, size, and location. 3BR vs. 4BR — subject is stronger here. Sold at $328/sqft. |
| 108 Burrill St #3 | Closed | Mar 2026 | $575,000 | 1 / 2 | 1,289 | $446 | 0.19 mi | 1920 | Same street, vintage comparable, but only 1BR/1,289 sqft. Higher $/sqft due to scarcity. Confirms strong demand on Burrill corridor. |
| 100 Burrill St #3 | Closed | May 2026 | $690,000 | 2 / 2 | 1,200 | $575 | 0.20 mi | 2014 | New construction premium. 2BR, half the size. $575/sqft reflects modern finishes. Not a direct comp — anchors top of range. |
| 443 Essex St #303 | Closed | Jan 2026 | $600,000 | — / 2 | 1,088 | $551 | 0.85 mi | 2018 | Modern, newer construction. $551/sqft premium. Much smaller unit. Establishes ceiling for updated properties in the market. |
| 404 Paradise Rd Apt 1T | Closed | Jan 2026 | $520,000 | 2 / 2 | 1,281 | $406 | 0.98 mi | 1975 | Lower-end comparable. Smaller, mid-century condo complex. Establishes floor. Not competitive with Burrill Street location. |
| 406 Paradise Rd Apt 2P | Closed | Aug 2025 | $545,000 | 2 / 2 | 1,275 | $427 | 0.98 mi | 1975 | Similar to above. Mid-century complex, limited character. Lower $/sqft than subject warrants. |
Valuation Reconciliation
The most meaningful comparable is 11 Kings Beach Terrace #2, which sold at $625,000 in October 2025. It shares the same Victorian-era vintage (1935), similar square footage (1,907 sqft), same neighborhood quadrant, and beach proximity. The key difference: that unit has 3 bedrooms vs. this property's 4 bedrooms — a feature that typically commands a positive adjustment of $15,000–$25,000 in this market. That alone suggests a fair value at or above the $625K sale.
The 108 Burrill St #3 sale at $575,000 (March 2026) is on the same street and confirms demand — but at 1,289 sqft and only 1 bedroom, it's not directly comparable. The high $/sqft ($446) reflects scarcity rather than finish quality.
Applying a conservative weight to the Kings Beach Terrace comp with a positive bedroom adjustment, and acknowledging the subject's older kitchen and vintage bathrooms as partial offsets, a reconciled fair market range of $585,000–$625,000 is well-supported. The list price of $599,900 sits within this range, confirming it is fairly (perhaps modestly) priced.
At the time of this report, 187 Burrill St Unit 2 itself represents the active inventory in this price point and property type. There are no direct competing active listings of similar size and character in Swampscott for buyers to compare against — which works in favor of the seller and supports the pricing. The relevant competitive risk to the buyer is the competing offer already in hand.
Buyers shopping in the $550K–$650K condo range on the North Shore are likely also considering:
- Modern/updated 2BR units in Swampscott or Salem ($575K–$690K range) — smaller but turnkey
- Marblehead or Beverly condos in similar vintage character buildings — often comparable pricing
- Single-family homes in the $600K–$650K range in less desirable neighborhoods — competing value proposition
List price or just above. May not win a competing-offer situation. Appropriate only if buyer is flexible on outcome or has reason to believe the competing offer is weak.
Well-supported by comps. Signals serious buyer intent. Should be competitive depending on competing offer price and terms. Recommended baseline.
At or above the best comparable (Kings Beach Terrace, $625K). Strong signal to seller. Consider paired with clean terms to differentiate from competing offer.
Offer Structure Guidance — Competing-Offer Environment
Beyond price, offer terms can make the difference in a multiple-offer situation with a FSBO seller.
Auto-escalate above competing offers up to a defined cap (e.g., cap at $635,000 or $640,000). Demonstrates intent without leaving money on table unnecessarily.
A pre-offer inspection or a 7-day inspection period signals confidence. Waiving inspection entirely adds risk given the 1890 vintage construction.
Attach a solid pre-approval. If feasible, a reduced or waived financing contingency strengthens the offer significantly for a FSBO seller unfamiliar with buyer risk assessment.
A FSBO seller may have specific timing preferences. Offering flexibility (30, 45, or 60-day close) can differentiate even at a lower price.
A larger deposit (3–5% of purchase price) signals commitment. On a $620K offer, 3% = $18,600. This reassures a private seller handling their own transaction.
FSBO sellers are sometimes more receptive to buyer letters than institutional sellers. However, avoid protected-class references. Consult your attorney before including.
✦ Strengths
- Rare 4-bedroom condo with 1,840 sq ft — genuinely uncommon in this market
- Strong Victorian character: soaring ceilings, crown moldings, hardwood floors, fireplace
- Two deeded off-street parking spaces — premium in this neighborhood
- Steps to King's Beach ocean access (3/10–1/2 mile)
- MBTA commuter rail station within walking distance — direct to North Station
- 2-unit complex, both owner-occupied — low condo risk, minimal HOA complexity
- Ultra-low HOA fee ($60/month, master insurance only)
- Recent capital improvements: furnace (2024), windows (2022), roof (<8 yrs)
- No special assessments reported
- Assessed value ($615,100) is above list price — supports valuation
- Aerial photos reveal ocean views from upper level
✦ Buyer Risks
- 1890 vintage construction — pre-inspection strongly recommended to assess structure, plumbing, and electrical
- Kitchen is not updated — may require investment post-purchase
- Window AC only — no central air conditioning
- No garage — deeded parking only
- Lead paint disclosure: "Unknown" — standard for pre-1978 but buyer should clarify
- Right-of-way in driveway shared with 185 Burrill St — confirm access clarity
- FSBO seller managing negotiations directly — may be less predictable in multiple-offer handling
- Upper-level bedrooms may have sloped ceilings (Victorian attic conversion) — visible in photos
- Competing offer(s) already in play — limited negotiating leverage on price
✦ Opportunities
- Kitchen update could add meaningful equity and lifestyle value post-purchase
- 4BR footprint allows flexibility for home office, guest room, or rental (verify condo docs)
- Low HOA opens door to future improvements without committee complexity
- Sunroom is a bonus space rarely found in condo properties of this type
- Seasonal appreciation track record along North Shore beach corridors is historically strong
✦ Cautions for Offer Strategy
- Do not assume the competing offer is weak — property is fairly priced and well-photographed
- FSBO sellers sometimes accept first offers to avoid process complexity — move efficiently
- Escalation clauses require a clear cap — overpaying relative to any appraisal creates financing risk
- Review condo docs carefully: pets (w/ restrictions), laundry (in-unit), no management — confirm what "restrictions" entail
- Confirm buyer's broker compensation terms directly with the seller before submitting
Based on the available market data, adjusted comparable analysis, and direct review of the property's attributes, the estimated fair market value of 187 Burrill Street, Unit 2 is $585,000 to $625,000, with a center-point estimate of approximately $605,000. The list price of $599,900 is reasonable and falls within this range.
The confidence rating is moderate — not because the analysis is uncertain, but because the subject property is genuinely unusual: a 4-bedroom Victorian condo of this scale is a thin market with few direct precedents. The Kings Beach Terrace comp provides the strongest anchor, but the 3BR vs. 4BR difference requires an upward adjustment that isn't perfectly quantifiable from public data alone.
In a multiple-offer environment, fair market value is not the ceiling — it is the floor. Buyers who win competitive offers typically pay 2–6% above list in this market. For this property, a compelling offer in the $615,000–$630,000 range is realistic, market-supported, and unlikely to create a significant appraisal gap for buyers using conventional financing at current rates. At $630,000, the effective per-square-foot is approximately $342/sqft — still well below the $406–$575/sqft range of recent Swampscott closed sales.