Four-Unit Residential Income
73 High St Rockport, MA 01966
73 High St, Rockport, MA, 01966
$1,050,000
Pending
For Sale
$1,050,000
Pending
Four-unit property features one vacant 3BR unit and three occupied 1BR units with separate utilities.
Property Size2,773 SF
Days on Market84
Property Features for 73 High St
General Information
- Standard status
- Pending
- Size
- 2,773 SF
- Property subtype
- 4 Family
Building Details
- Year Built
- 1810
Listing agency
North Shore's Gold Coast Realty
(978) 689-5431
Listed by
Lane Team
(978) 689-5431
Source
Lockandkeyre
Added: Apr 30 Updated: Jul 21 at 8:23PM Checked: Jul 21 at 8:23PM
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 North Shore's Gold Coast Realty
Investment Insights
Based on property information with market context.
This four-family residential income property was built in 1810 and consists of one 3-bedroom unit that is currently vacant, along with three one-bedroom units that are all occupied. The detached 3-car garage offers off-street parking plus additional workshop and storage space, with the possibility of conversion to an accessory dwelling unit. The property also provides additional off-street parking for 6 cars. Each unit has separate utilities.
The property is described as centrally located close to downtown, beaches, schools, waterfront, shopping, and dining.
Reported improvements include a new roof installed in 2022, with low-maintenance siding noted as well. The current rents are described as below market, and the property is noted as potentially suitable for condo conversion.
The property is described as centrally located close to downtown, beaches, schools, waterfront, shopping, and dining.
Reported improvements include a new roof installed in 2022, with low-maintenance siding noted as well. The current rents are described as below market, and the property is noted as potentially suitable for condo conversion.
Key Highlights
- Built in 1810, this four‑unit property includes one vacant 3BR unit and three occupied 1BR units.
- Detached 3‑car garage plus additional off‑street parking for 6 cars, with potential for workshop/storage or conversion to an ADU.
- All separate utilities for the units.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.9k | $25.20 |
| − Vacancy | −$3.1k | −$1.13 |
| EGI | $66.7k | $24.07 |
| − OpEx | −$20.0k | −$7.22 |
| NOI | $46.7k | $16.85 |
2,773 SF · lease $25.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$667.4K
$583.9K – $778.6K
NOI $46,715 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$602.4K
$527.1K – $702.8K
NOI $42,167 @ 7.0% cap · market cap 4.02%
Theoretical Best
Office A
$1.64M
$1.44M – $1.92M
NOI $114,912 @ 7.0% cap · market cap 10.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit property features one vacant 3BR unit and three occupied 1BR units with separate utilities.
Where is this quadplex located?
The property is located at 73 High St Rockport, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Built in 1810, this four‑unit property includes one vacant 3BR unit and three occupied 1BR units.; Detached 3‑car garage plus additional off‑street parking for 6 cars, with potential for workshop/storage or conversion to an ADU.; All separate utilities for the units.
