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9 State Street, Marblehead MA 01945

$1,695,000

Estimated $3,642.37/month Calculator

Multi Family

Total Units: 6

Price Per Unit: $282,500

Total Rent: 60600/year

Estimated CAP Rate: 1.57%

6 Bedrooms

6 Full, 1 Half Baths

6,104 SqFt

Total Parking: 7 (2 Garage)

5,104 SqFt

9 State Street, often referred to as "The Oakum Bay Building", consists of a combination of one bedroom and studio rental units plus the offices, workshops, and the third floor loft workshop previously used for Ralph Hulsman's boat canvas company. The building is well located on State Street, less than 1/8th of a mile to the harbor and in the center of the downtown commercial area. The driveway widens in the rear of the building offering parking space for many of the tenants. There is also a 2-car garage that is currently rented @ $200/month. Several of the tenants are long standing residents, attesting to the value of the location. The building was built in the late 1700's, quite possibly as a single family home, and still retains some of the charm of that era-starting with the well worn front wide pine steps. There are 2 gas heating systems, FHA and FHW (2021- Navian), a 75 gallon gas hot water tank, and three circuit breaker electrical boards. The roof was replaced in 2017.

This home has been viewed 54 times

Last Checked: May 7th, 2024 at 12:50am (Source: MLS PIN #73065015)

Gross Income: $60,600

Gross Expenses: $33,927

Net Income Calc: $26,673

CAP Rate: 1.57%

Beach Front

Annual Expenses for 9 State Street, Marblehead MA 01945

Total Gross Expenses (Calculated)$33,927/year

APOD AvailableNo

Heating

Electricity$6,000

Water$4,800

Gas$4,800

Insurance$5,200

Sewer$4,800

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax$10,727.24

Annual Income & Unit Breakdown for 9 State Street, Marblehead MA 01945

Total Gross Income (Calculated)$60,600

Unit 1

Rental Income$1,850

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent IncludesElectric, Gas, Water, Unit 1(heat, Hot Water), Unit 2(heat, Unit 4(heat, Unit 3(heat

Unit 2

Rental Income$0

LeaseN

Bedrooms1

Bathrooms1 Full

Floor1

Levels in Unit1

HeatingYes

Rent IncludesElectric, Gas, Water, Unit 1(heat, Hot Water), Unit 2(heat, Unit 4(heat, Unit 3(heat

Unit 3

Rental Income$1,850

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent IncludesElectric, Gas, Water, Unit 1(heat, Hot Water), Unit 2(heat, Unit 4(heat, Unit 3(heat

Unit 4

Rental Income$1,350

LeaseN

Bedrooms1

Bathrooms1 Full

Floor2

Levels in Unit1

HeatingYes

Rent IncludesElectric, Gas, Water, Unit 1(heat, Hot Water), Unit 2(heat, Unit 4(heat, Unit 3(heat

General Information for 9 State Street, Marblehead MA 01945

Listing ID73065015

Property TypeMulti Family / 5+ Family

Price$1,695,000 ($277.69/SqFt)

Style5-9 Family

CityMarblehead

CountyEssex

MLS AreaOld Town

Neighborhood(s)Ipswich

Approximate Living Area Total6,104 SqFt

Approximate Lot Size (Acres)0.12 acres

Total Parking7 (2 Garage)

Garage Parking2 / Detached

Year Built1770

Year Built SourceOwner

Year Renovated

Year Built DetailsApproximate

Water

Sewer

Electric

Hot Water

Roof Material

Basement

Construction MaterialsFrame

Lot FeaturesLevel

Foundation Area

Foundation DescriptionConcrete Perimeter,Stone

Accessible Features

Outdoor Space

ZoningHist

Zoning Details

Water ViewsNo

Water Views Features

WaterfrontNo

Waterfront FeaturesHarbor, Beach Front, Beach Ownership(public), 3/10 To 1/2 Mile To Beach

Energy Features

Terms

Disclosures for 9 State Street, Marblehead MA 01945

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area DisclosureThis measurement may not include all of the lower

Building Area SourcePublic Records

Title 5

Exclusions

Disclosures

Financial Data SourceOwner

Total Gross Expenses By Broker$23,200

Total Gross Income By Broker$109,200

Total Net Income By Broker$86,000

For Sale By OwnerNo

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2.0

Facilitator Compensation

Sub-Agent Compensation

Compensation Based OnNet Sale Price

Financial Information for 9 State Street, Marblehead MA 01945

Real Estate Taxes$10,727.24

Tax Year2022

Assessed Value$1,019,700

Financial Data SourceOwner

Total Gross Expenses By Broker$23,200

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker$109,200

BostonRealEstate.com Gross Income

Total Net Income By Broker$86,000

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

CAP Rate (BostonRealEstate.com)1.57%

Location Information for 9 State Street, Marblehead MA 01945

Elementary SchoolPublic/Private

Middle SchoolPublic/Private

High SchoolPublic

Neighborhood(s)Ipswich

MLS AreaOld Town

Area AmenitiesWalk/jog Trails, Conservation Area, House Of Worship, Public School, Shopping, Park, Medical Facility, Laundromat, Bike Path, Public Transportation

Contact Information for 9 State Street, Marblehead MA 01945

Agent

Name: Mary Stewart & Heather Kaznoski

Office

Name: Coldwell Banker Realty - Marblehead

Phone: 781-631-9511

Team Members

Name: Heather Kaznoski

Phone: 781-576-9288

Name: Mary Stewart

Phone: 781-820-5676

Payment Calculator

, Interest

Property Taxes 893.94

Principal & Interest 10444.05

HOA Dues $0

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Coldwell Banker Realty - Marblehead

Mary Stewart & Heather Kaznoski

Agent Phone

Office Phone

(781) 631-9511

Text Agent Call Agent Call Office

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    [description] => 9 State Street, often referred to as "The Oakum Bay Building", consists of a combination of one bedroom and studio rental units plus the offices, workshops, and the third floor loft workshop previously used for Ralph Hulsman's boat canvas company. The building is well located on State Street, less than 1/8th of a mile to the harbor and in the center of the downtown commercial area. The driveway widens in the rear of the building offering parking space for many of the tenants. There is also a 2-car garage that is currently rented @ $200/month. Several of the tenants are long standing residents, attesting to the value of the location. The building was built in the late 1700's, quite possibly as a single family home, and still retains some of the charm of that era-starting with the well worn front wide pine steps. There are 2 gas heating systems, FHA and FHW (2021- Navian), a 75 gallon gas hot water tank, and three circuit breaker electrical boards. The roof was replaced in 2017.
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)

EXIT

Closed

9 State Street, Marblehead MA 01945

$1,695,000

Annual Expenses for 9 State Street, Marblehead MA 01945

Annual Income & Unit Breakdown for 9 State Street, Marblehead MA 01945

General Information for 9 State Street, Marblehead MA 01945

Disclosures for 9 State Street, Marblehead MA 01945

Financial Information for 9 State Street, Marblehead MA 01945

Location Information for 9 State Street, Marblehead MA 01945

Contact Information for 9 State Street, Marblehead MA 01945

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Exclusive Listing Agent

Coldwell Banker Realty - Marblehead

Mary Stewart & Heather Kaznoski