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PENDING

22 School St, Rockport, MA 01966

6
beds
3
baths
6055
ft2
· 4792
ft2 lot

$1,249,900

$206 / ft2

Listing provided courtesy of John Wellington, RE/MAX 360
Source MLS PIN;
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Rare Investor Opportunity Mixed-Use located in the heart of scenic Rockport. Steps to Front Beach with numerous shops and restaurants near Bearskin Neck. Rockport Harbor and renowned scuba diving at Back Beach are minutes away. This beautiful 4-unit property has been under the same ownership for over 30 years. An income producer with a proven history. Two spacious 3-Bedroom residential units with under market rents make this a renters dream. Serious potential for short term seasonal rentals like AirBNB w/attractive tourist experiences. Two retail storefronts add to the attractiveness with balanced revenue. Great opportunity to stabilize an investment portfolio with a business that anchors this location. Ideal for investor portfolio or owner occupied property. Has a very attractive entry cap rate with potential value add. Check out what this charming community has to offer! Proforma available for qualified buyer.

HOA

$—/month

On market

1 month

Year built

1866

Property type

2 Family

Parking

2

MLS

72891182

Price / Sq.Ft.

$206 / ft2

Status

Under Agreement

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Home details for 22 School St

Interior Features & Layout
Heating & Cooling
•   
Heating Description Unit4: Hot Water Baseboard, Oil
•   
Cooling Description Unit 4: Window AC
•   
Heating Description Unit 1: Forced Air, Gas
•   
Cooling Descr 1: Central Air
•   
Cooling Descr 2: Window AC
•   
Cooling Descr 3: Window AC
•   
Heating Description Unit2: Hot Water Baseboard, Oil
•   
Heating Description Unit3: Hot Water Baseboard, Oil
Interior Features
•   
Utility Description: Water, Water, Water, Water
Rooms Info
•   
Total Levels: 3, 7, 4
•   
Total Levels Unit 1: 1, 1
•   
Total Levels Unit 2: 1, 1
•   
Total Levels Unit 3: 2, 1
•   
Total Levels Unit 4: 1
•   
Total Rooms Unit 1: 1
•   
Total Rooms Unit 2: 1
•   
Total Rooms Unit 3: 6
•   
Total Rooms Unit 4: 6
•   
Total Rooms: 14, 14, 14
Flooring
•   
Unit 4 Floor Level: 3
Virtual Tour
•   
Virtual Tour: 1
Bedrooms Info
•   
Total Beds: 6
•   
Unit 4 Beds: 3
•   
Unit 3 Beds: 3
Bathrooms Info
•   
Full Baths: 2, 2
•   
Half Baths: 2, 2
•   
Unit 4 Full Baths: 1
•   
Unit 3 Full Baths: 1
•   
Unit 3 Half Baths: 1
•   
Unit 2 Half Baths: 1
Property, Lot, Community & Exterior Features
Property Features
•   
Beach Description: Harbor
•   
Beachfront
•   
Beach Ownership: Public
Community Info
•   
Total Units In Complex: 4
Property Type
•   
Property Type: 2 Family
•   
Mls Prop Type: 2 Family
•   
Mls Property Type: Multi-family
Community Features
•   
Area Amenities: Public Transportation, Shopping, Walk/Jog Trails, Golf Course, Public School, T-Station
Lot Info
•   
Zoning: 0104
•   
Lot Description: Corner
•   
Acres: 0.11
Building Info
•   
Sqft Source: Public Record
•   
Foundation: Slab
•   
Year Built Description: Certified Historic
•   
Lead Paint: Unknown
•   
Year Built Source: Public Record
Parking Info
•   
Parking Descriptions: Off-Street
Utilities & Other Information
Water & Sewer Info
•   
Water Source: City/Town Water
•   
Sewer: City/Town Sewer
Listing Details, Costs & Financing Information
Listing Info
•   
Offline Listing Number: 3323164
•   
Status: Under Agreement
Lease Info
•   
Gross Revenue: 17110
•   
Gross Income: 96600
•   
Net Operating Income: 79490
•   
Monthly Rent Unit 1: 3300
•   
Monthly Rent Unit 2: 1500
•   
Monthly Rent Unit 3: 1500
•   
Lease 1
•   
Monthly Rent Unit 4: 1750
•   
Lease 2
•   
Lease 3
•   
Lease 4
Financial Info
•   
Finances Source: Owner Provided
•   
Apod Available
•   
Operating Expense: 12/20
Listing Details
•   
Disclosures: Owner stated income and expenses. Anchor tenant (Rockport Pizza) has a 5/5/5 Lease effective 2021 $3, 300 per month with annual 2% increase. Buyer/Buyer agent to do own due diligence. Seller/Seller agent make no representations or warranties. Update: Restaurant Heat is Propane supplied
Tax/Assessment Info
•   
Tax Year: 2021
•   
Assessed Value: 676700.00
•   
Taxes: 6591.00
•   
Apn: M:0018 B:0000 L:0506
Listing Contacts
•   
Selling Agent: C4406648
School Neighborhood & Directions
Location
•   
Street Number: 22
•   
Map Book: 9927
•   
Beach Distance: 1/10 to 3/10
•   
Map Page: 484
•   
Directions: At the cross street of Broadway and School St. Retail location has frontage on Broadway.
•   
Road Type: Public
•   
Zip Code +4: 1616
Other
Calculation
•   
Price Per Sqft: 206.42
•   
List Price Per Sqft: 206.42
•   
Cdom Property: 36
•   
Cdom Broker: 36
•   
Cdom: 36

Neighborhood snapshot

20
Properties for sale
19.5
Median days on market
$455.61
Median sold price/sqft
101.34%
Sold/List %
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Property History for 22 School St

10/13/2021
10/13/2021
MLS PIN #72891182
pending
MLS PIN #72891182
$1,249,900
09/08/2021
09/08/2021
MLS PIN #72891182
active
MLS PIN #72891182
$1,249,900
+177.76%
03/17/1989
03/17/1989
Public Record
sold
Public Record
$450,000

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