Four-Unit Residential Income
73 High Street Rockport, MA 01966
73 High Street, Rockport, MA, 01966
$1,050,000
For Sale
$1,050,000
Four-family property with one vacant 3-bedroom unit and three occupied one-bedroom units, plus a detached three-car garage.
Property Size2,773 SF
Price / SF$378.65
Days on Market85
Property Features for 73 High Street
General Information
- Standard status
- Active
- Size
- 2,773 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1810
Listing agency
North Shore's Gold Coast Realty
(978) 689-5431
Listed by
Lane Team
Source
Eganrealtygroup
Added: Apr 29 Updated: Jul 22 at 2:18AM Checked: Jul 22 at 2:18AM
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 includes one 3-bedroom unit that is currently vacant, along with three 1-bedroom units that are occupied. Each unit has separate utilities, supporting independent operation. The detached three-car garage adds parking and additional workshop or storage space.
The property also offers off-street parking for six cars and includes a manageable yard. Reported improvements include a new roof installed in 2022, along with low-maintenance siding. The detached garage and layout are also described as having potential for conversion to an accessory dwelling unit, and there is noted potential for condo conversion.
The 3-bedroom unit is available for an owner-occupant, while the three 1-bedroom units continue to provide current rental income.
The property also offers off-street parking for six cars and includes a manageable yard. Reported improvements include a new roof installed in 2022, along with low-maintenance siding. The detached garage and layout are also described as having potential for conversion to an accessory dwelling unit, and there is noted potential for condo conversion.
The 3-bedroom unit is available for an owner-occupant, while the three 1-bedroom units continue to provide current rental income.
Key Highlights
- Built in 1810, 4‑family property with one vacant 3‑bedroom unit and three occupied 1‑bedroom units
- Detached 3‑car garage plus additional off‑street parking for 6 cars
- All separate utilities
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-family property with one vacant 3-bedroom unit and three occupied one-bedroom units, plus a detached three-car garage.
Where is this quadplex located?
The property is located at 73 High Street 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, 4‑family property with one vacant 3‑bedroom unit and three occupied 1‑bedroom units; Detached 3‑car garage plus additional off‑street parking for 6 cars; All separate utilities
