Multifamily Property with
For Sale
$798,000
130 Main Street, Rockport, MA 01966
Two separate residences provide flexible space for rental use or extended household living.
Property Size2,273 SF
Lot Size0.39 Acres
Price / SF$351.08
Days on Market29
Property Features for 130 Main Street
General Information
Standard status
Active
Size
2,273 SF
Lot size
0.39 Acres
Property subtype
Multi-Family
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2-3BR home, 1 x 2BR cottage
Multifamily Units
2
Building Details
Year Built
1900
Buildings
2
Listing Agency:
Wanda Mooney, Coldwell Banker Community Realtors
(978) 320-3377
Listed By:
Chinatti Realty
(978) 320-3377
Source:
Chinattirealty
Added: Aug 1
Changed: Aug 28
Last Checked: Aug 28 at 10:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wanda Mooney, Coldwell Banker Community Realtors
Investment Insights
Based on property information with market context.
This multifamily property includes a Colonial-style main residence and a detached, single-level cottage on a 17,000+ square foot lot. The 2,273-square-foot main house offers a living room, dining room, kitchen, den, and full bath on the first floor, with two bedrooms and an additional bath upstairs. The cottage features two bedrooms, a full bath, an efficient kitchen, a living room patio, and views across the yard.
Both residences have separate electric service and their own forced hot water heating systems using oil. Ample parking serves the two dwellings. The property is located at 130 Main Street, less than a mile from Front Beach and downtown Rockport, with an MBTA station approximately half a mile away. Built in 1900, the property supports a range of multifamily and extended-living configurations.
Both residences have separate electric service and their own forced hot water heating systems using oil. Ample parking serves the two dwellings. The property is located at 130 Main Street, less than a mile from Front Beach and downtown Rockport, with an MBTA station approximately half a mile away. Built in 1900, the property supports a range of multifamily and extended-living configurations.
Key Highlights
- 2,273‑square‑foot multifamily property with two separate residences
- Main home with flexible Colonial‑style floor plan and two bedrooms
- Detached one‑level cottage includes two bedrooms, kitchen, bath, and living room patio
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,564
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$691,280
$691.3K
Cap Rate 7%
$493,771
$493.8K
Cap Rate 9%
$384,044
$384.0K
Market Conditions
NOI Build-Up for 2,273 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.5K $28.80/SF
− Vacancy
−$2.6K −$1.15/SF
EGI
$62.8K $27.65/SF
− OpEx
−$28.3K −$12.44/SF
NOI
$34.6K $15.21/SF
Area
Essex County, MA
Vacancy
4.00%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$691,280
Cap Rate 7%
$493,771
Cap Rate 9%
$384,044
Alternative Uses
Best Use
Apartment 5plus
$493.8K
$432.1K – $576.1K
NOI $34,564 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,193 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
327
Businesses Nearby
Explore this area
Business Placement
Demographics for 01966, MA
6,992
Population
4,232
Households
1.7
Avg Household Size
57
Median Age
57%
College-Educated
95%
High-School Grad
7.0 sq mi
ZIP Area
999
Density / Sq Mi
$93,227
Median Household Income
$42,443
Median Earnings
$1,827
Median Rent
$692,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate residences provide flexible space for rental use or extended household living.
Where is this multifamily property located?
The property is located at 130 Main Street Rockport, MA.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: 2,273‑square‑foot multifamily property with two separate residences; Main home with flexible Colonial‑style floor plan and two bedrooms; Detached one‑level cottage includes two bedrooms, kitchen, bath, and living room patio
