39 School St, Rockland, MA 02370
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$699,900
2 Unit
4 Beds
2 Baths
2251 SQFT
0.18 Acre

Property Description

Welcome to 39 School Street, an exceptional multi-family opportunity perfectly positioned in the heart of Rockland! Whether you are searching for the ideal owner-occupied home where rental income helps pay your mortgage, or a rock-solid, turnkey addition to your investment portfolio, this property delivers on all fronts.The building features two spacious 2-bedroom, 1-bathroom units with a truly incredible track record: **100% occupancy for the last 12 years**. Both units are currently generating reliable income but are rented well below current market rates for the downtown area. With no long-term leases currently in place, the new owner has ultimate flexibility and immediate upside potential to adjust rents to market value or easily transition into one of the units.**Incredible Expansion Potential:** Looking to maximize your investment? Unit 2 offers a massive value-add opportunity with a walk-up third-floor attic just waiting to be finished. By completing this space, you can effortlessly expand Unit 2 into a sprawling two-level, 3-to-4-bedroom layout. This creates the ultimate owner-occupied sanctuary, giving you a massive multi-floor living space while the lower unit pays the bills.Location is everything, and this home offers an unbeatable lifestyle just a stone's throw from Rockland’s vibrant Main Street. You and your tenants will absolutely love the awesome downtown vibe, offering the convenience of leaving the car at home to take a very short stroll to local coffee shops, fantastic restaurants, and great shopping.Don't miss out on this fantastic opportunity to invest in a proven income-generator with massive untapped equity potential in one of Rockland's most walkable and desirable neighborhoods!Location is everything, and this home offers an unbeatable lifestyle just a stone's throw from Rockland’s vibrant Main Street.

Property Details tap to expand

Building Information

  • Total Units: 2
  • Total Floors: 3
  • Total Bedrooms: 4
  • Total Full Baths: 2
  • Amenities: Laundromat, Public School, Public Transportation, Shopping
  • Basement Features: Bulkhead, Concrete Floor, Dirt Floor, Interior Access, Unfinished Basement
  • Common Rooms: Family Room, Kitchen, Living Room, Mudroom, Office/Den
  • Common Interior Features: Bathroom With Tub & Shower, Ceiling Fans, Floored Attic, Internet Available - Broadband, Internet Available - DSL, Lead Certification Available, Pantry, Tile Floor, Walk-Up Attic
  • Common Appliances: Dishwasher, Dryer, Range, Refrigerator, Washer, Washer & Dryer Hookup, Washer Hookup
  • Common Heating: Active Solar, Electric Baseboard, Extra Flue, Gas, Geothermal Heat Source, Heat Pump, Hot Water Radiators, Individual, Oil

Financial

  • APOD Available: Yes
  • Expenses Source: Owner Provided
  • Gross Operating Income: 43325
  • Gross Expenses: 15433
  • Water/Sewer: 2286
  • INSC: 3033
  • Repairs & Maintenance: 750
  • RFS: 784
  • Net Operating Income: 27892

Utilities

  • Heat Zones: 2
  • Electric Info: 100 Amps, Circuit Breakers, Individually Metered, Other (See Remarks), Underground
  • Energy Features: Insulated Windows, Storm Doors
  • Utility Connections: Washer Hookup, for Electric Dryer, for Gas Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Included in Rent: Water
  • Under Lease: No
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1880
  • Construction Type: Aluminum, Frame, Post & Beam, Stucco
  • Foundation Info: Fieldstone, Irregular, Poured Concrete
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Hardwood, Tile, Wall to Wall Carpet, Wood
  • Lead Paint: None
  • Year Round: Yes
  • Warranty: No

Other Information

  • MLS ID# 73573701
  • Last Updated: 09/13/26

Property History tap to expand

Date Event Price Price/Sq Ft Source
09/13/2026Active$699,900$311MLSPIN
09/09/2026New$699,900$311MLSPIN

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Seller's Representative: Jeff Parkhurst, Century 21 North East
Sub Agent Compensation: n/a
Buyer Agent Compensation: n/a
Facilitator Compensation: n/a
Compensation Based On: n/a
Sub-Agency Relationship Offered: No

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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.

MLS PIN data last updated at 2026-09-13 04:05:00

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