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62 Schoolhouse Rd Edgartown — Photo 1 of 38

62 Schoolhouse Rd Edgartown — Photo 1 of 38

$3,400,000

Investment Analysis — 62 Schoolhouse Rd

Edgartown, MA 02539

Based on HUD Small Area Fair Market Rent for Dukes County, MA, a 5-bedroom in 02539 carries an estimated $3,430/mo in gross rent — about a 0.77% cap rate and $26,242/yr in estimated NOI at the $3,400,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

5

Baths

4

SqFt

3,095

Style

Single Family

Built

1986

Ideally situated between South Beach and Edgartown Village, this newly renovated Katama compound offers exceptional flexibility for personal use and rental income.The four-bedroom contemporary main house features a newly constructed, expansive great room with a cathedral ceiling and an abundance of windows that fill the space with natural light. The open floor plan flows from the updated kitchen into a living room centered around a classic brick fireplace. Skylights bring in additional sunlight, while sliding doors open to expansive new south-facing decks—perfect for outdoor dining, entertaining, and relaxing after a day at the beach. The third floor provides a second living area, bedroom, and private half bath. A full basement offers ample storage and potential for additional finished living space. The detached two-car garage includes a private one-bedroom apartment above with its own wraparound deck. A bonus room with a half bath on the garage’s main level is ideal for an office. A custom-built cedar shed provides convenient storage for bicycles and beach gear. Set on a half-acre lot with easy access to the nearby bike path leading to Edgartown Village and South Beach, this turnkey property combines an outstanding location with a strong rental history. With multiple living spaces and excellent income-producing potential, this versatile Katama compound is a must-see. Photo's have been enhanced

ADU Potential

Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 900 sq ft (the lesser of 900 sq ft or half the 3,095 sq ft principal dwelling). Lot size: 21,780 sq ft.

Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.

Estimates — not financial advice

These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.

Property Details

Financials

Original Price$3,400,000
Annual Taxes$5,040

Parking

Garage2
Off-Street8

Interior Specifications

Total Rooms11
Fireplaces1
Flooring--
BasementFull

Climate & Utilities

HeatingOil
CoolingCentral Air, Other
WaterPublic
SewerPrivate Sewer

Building & Exterior

Construction--
Roof--
FoundationConcrete Perimeter, Other
ZoningR20

Property & Lot

Acres0.5
SqFt Lot21,780
Lot FeaturesLevel

Geography

Listing Provided By

Listing Agent: Michele Casavant

Listing Office: Vineyard Village Realty

MLS® Number: 73577862