Two-Unit Duplex with
New
For Sale
$799,900
12 Kearney Street, Malden, MA 02148
The upper residence spans two levels, while basement laundry and a two-car garage add practical features.
Property Size2,043 SF
Price / SF$391.53
Days on Market5
Property Features for 12 Kearney Street
General Information
Standard status
Active
Size
2,043 SF
Property subtype
Multi-family
Building Details
Year Built
1900
Listing Agency:
RE/MAX Harmony
Listed By:
Team Ladner
(781) 715-3960
Source:
Merryfoxrealty
Added: Sep 28
Changed: Oct 1
Last Checked: Oct 1 at 11:39AM
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 RE/MAX Harmony
Investment Insights
Based on property information with market context.
Built in 1900, this 2,043-square-foot duplex contains two residences. The first has two bedrooms, one bathroom, an eat-in kitchen with pantry, and a living room. The upper unit extends across two levels, with a living and dining room, eat-in kitchen, pantry, primary bedroom, two additional bedrooms, and two full bathrooms. Laundry and storage are located in the basement, and the property also includes a two-car garage with a newer door and outdoor living space.
The property is near the Northern Strand Community Trail and Green Street Park. Public transportation, Malden Center T-station on the Orange Line, Assembly Row, Encore Casino, downtown Malden shops and dining, and routes to Boston are also noted nearby.
The property is near the Northern Strand Community Trail and Green Street Park. Public transportation, Malden Center T-station on the Orange Line, Assembly Row, Encore Casino, downtown Malden shops and dining, and routes to Boston are also noted nearby.
Key Highlights
- Two residences in a 2,043‑square‑foot duplex
- Built in 1900
- Upper unit has two levels, with three bedrooms and two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,231
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$864,620
$864.6K
Cap Rate 7%
$617,586
$617.6K
Cap Rate 9%
$480,344
$480.3K
Market Conditions
NOI Build-Up for 2,043 SF
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.
Gross rent
$65.0K $31.80/SF
− Vacancy
−$3.2K −$1.57/SF
EGI
$61.8K $30.23/SF
− OpEx
−$18.5K −$9.07/SF
NOI
$43.2K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$864,620
Cap Rate 7%
$617,586
Cap Rate 9%
$480,344
Alternative Uses
Best Use
Multifamily LT 5
$617.6K
$540.4K – $720.5K
NOI $43,231 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$580.7K
$508.1K – $677.5K
NOI $40,649 @ 7.0% cap · market cap 5.08%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,661 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,183
Businesses Nearby
Explore this area
Business Placement
Demographics for 02148, MA
66,274
Population
28,043
Households
2.4
Avg Household Size
36
Median Age
45%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
13,255
Density / Sq Mi
$95,298
Median Household Income
$56,077
Median Earnings
$2,066
Median Rent
$607,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - The upper residence spans two levels, while basement laundry and a two-car garage add practical features.
Where is this duplex located?
The property is located at 12 Kearney Street Malden, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two residences in a 2,043‑square‑foot duplex; Built in 1900; Upper unit has two levels, with three bedrooms and two full bathrooms
