Duplex with Finished Lower
New
For Sale
$1,049,000
1239 Salem Street, Malden, MA 02148
Three levels of living space include separate entrances, a rear deck, off-street parking, and a sizeable backyard.
Property Size2,505 SF
Price / SF$418.76
Days on Market2
Property Features for 1239 Salem Street
General Information
Standard status
Active
Size
2,505 SF
Property subtype
Multi-family
Building Details
Year Built
1935
Listing Agency:
Woods Properties Inc.
Listed By:
Brian Woods
(781) 308-3914
Source:
Miketoomeyrealestate
Added: Oct 29
Changed: Oct 30
Last Checked: Oct 30 at 1:52PM
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 Woods Properties Inc.
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Investment Insights
Based on property information with market context.
This duplex contains approximately 2,505 square feet of finished living space across three levels. The main-floor unit has two bedrooms, an open kitchen and living area, a full bath, and a sunroom with access to the rear deck. A finished lower level of approximately 829 square feet adds a family room, bedroom, office or den, full bath, and wet bar; it connects internally to the main unit and has a separate walkout. The second-floor unit has its own exterior entrance, two bedrooms, a full bath, and an open kitchen and living area. The property was built in 1935 and includes off-street parking on an approximately 0.37-acre lot in Malden, Massachusetts.
The rear yard may support consideration of an accessory dwelling unit, subject to applicable state and local rules and approvals. MBTA bus service and area amenities are nearby.
The rear yard may support consideration of an accessory dwelling unit, subject to applicable state and local rules and approvals. MBTA bus service and area amenities are nearby.
Key Highlights
- Approximately 2,505 square feet of finished space over three levels
- Two units, each with 2 bedrooms and a full bath
- Finished lower level of approximately 829 square feet with separate exterior walkout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,007
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,060,140
$1.1M
Cap Rate 7%
$757,243
$757.2K
Cap Rate 9%
$588,967
$589.0K
Market Conditions
NOI Build-Up for 2,505 SF
Gross rent
$79.7K $31.80/SF
− Vacancy
−$3.9K −$1.57/SF
EGI
$75.7K $30.23/SF
− OpEx
−$22.7K −$9.07/SF
NOI
$53.0K $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 Rate 5%
$1,060,140
Cap Rate 7%
$757,243
Cap Rate 9%
$588,967
Alternative Uses
Best Use
Multifamily LT 5
$757.2K
$662.6K – $883.5K
NOI $53,007 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$712.0K
$623.0K – $830.7K
NOI $49,841 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,807 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
561
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Three levels of living space include separate entrances, a rear deck, off-street parking, and a sizeable backyard.
Where is this duplex located?
The property is located at 1239 Salem Street Malden, MA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Approximately 2,505 square feet of finished space over three levels; Two units, each with 2 bedrooms and a full bath; Finished lower level of approximately 829 square feet with separate exterior walkout
