Two-Family Home in Prime
For Sale
$999,999
Pending
394-396 Pleasant St, Malden, MA 02148
Two-family home near schools, parks, transit, and shopping.
Property Size2,719 SF
Lot Size0.09 Acres
Days on Market266
Property Features for 394-396 Pleasant St
General Information
Standard status
Pending
Size
2,719 SF
Lot size
0.09 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$9,674
Building Details
Building Size
2,719 SF
Year Built
1900
Stories
4
Units
2
Listing Agency:
(617) 319-1819
Listed By:
May Mai
(617) 319-1819
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 14
Last Checked: Aug 20 at 7:20AM
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 May Mai
Investment Insights
Based on property information with market context.
This two-family home is suitable for investment or owner-occupancy. The property is located across the street from the Beebe School and Wallace Park, and is also near Malden Square, which offers a variety of restaurants, shopping options, bus access, and the Orange Line Malden Center station to Boston. The Malden Center Station is 0.3 miles away. The property includes a shared driveway. The sale is as is, and both units will be delivered vacant.
Key Highlights
- Prime location: Steps away from Malden Square, offering diverse restaurants, shopping, the bus & Orange line Malden Center station to Boston (0.3 mile).
- Ideal for investment or owner‑occupancy: Versatile property suitable for various buyer needs.
- Delivered vacant: Both units will be delivered vacant, providing immediate occupancy or rental opportunities.
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
$57,535
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
5.75%
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%
$1,150,700
$1.2M
Cap Rate 7%
$821,929
$821.9K
Cap Rate 9%
$639,278
$639.3K
Market Conditions
NOI Build-Up for 2,719 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
$86.5K $31.80/SF
− Vacancy
−$4.3K −$1.57/SF
EGI
$82.2K $30.23/SF
− OpEx
−$24.7K −$9.07/SF
NOI
$57.5K $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%
$1,150,700
Cap Rate 7%
$821,929
Cap Rate 9%
$639,278
Alternative Uses
Best Use
Multifamily LT 5
$821.9K
$719.2K – $958.9K
NOI $57,535 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$772.8K
$676.2K – $901.7K
NOI $54,099 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$1.61M
$1.41M – $1.88M
NOI $112,675 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,211
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home near schools, parks, transit, and shopping.
Where is this duplex located?
The property is located at 394-396 Pleasant St Malden, MA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Prime location: Steps away from Malden Square, offering diverse restaurants, shopping, the bus & Orange line Malden Center station to Boston (0.3 mile).; Ideal for investment or owner‑occupancy: Versatile property suitable for various buyer needs.; Delivered vacant: Both units will be delivered vacant, providing immediate occupancy or rental opportunities.
