For Sale
$849,900
22 Stearns St, Malden, MA 02148
Duplexes
Property Size1,789 SF
Price / SF$475.07
Days on Market51
Property Features for 22 Stearns St
General Information
Standard status
Active
Size
1,789 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Amenities
modern kitchens
updated baths
stylish finishes
abundant natural light
walk-in closet
energy-efficient mini-split systems
shared laundry with washer and dryer
Building Details
Year Built
1900
Year Renovated
2020
Listing Agency:
PRIVI Realty LLC
(617) 938-7816
Listed By:
Patty Hoang
(617) 938-7816
Source:
Lockandkeyre
Added: Jul 6
Changed: Jul 21
Last Checked: Aug 25 at 4:33AM
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 PRIVI Realty LLC
Investment Insights
Based on property information with market context.
Key Highlights
- Renovated in 2020 two‑family property with a spacious 4‑bedroom unit and a 1‑bedroom unit
- Both units feature modern kitchens, updated baths, stylish finishes, and abundant natural light
- Four energy‑efficient mini‑split systems provide year‑round comfort
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
$37,856
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
4.45%
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%
$757,120
$757.1K
Cap Rate 7%
$540,800
$540.8K
Cap Rate 9%
$420,622
$420.6K
Market Conditions
NOI Build-Up for 1,789 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
$56.9K $31.80/SF
− Vacancy
−$2.8K −$1.57/SF
EGI
$54.1K $30.23/SF
− OpEx
−$16.2K −$9.07/SF
NOI
$37.9K $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%
$757,120
Cap Rate 7%
$540,800
Cap Rate 9%
$420,622
Alternative Uses
Best Use
Multifamily LT 5
$540.8K
$473.2K – $630.9K
NOI $37,856 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$508.5K
$444.9K – $593.3K
NOI $35,595 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$1.06M
$926.7K – $1.24M
NOI $74,136 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,221
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
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Frequently Asked Questions
Where is this duplex located?
The property is located at 22 Stearns St Malden, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Renovated in 2020 two‑family property with a spacious 4‑bedroom unit and a 1‑bedroom unit; Both units feature modern kitchens, updated baths, stylish finishes, and abundant natural light; Four energy‑efficient mini‑split systems provide year‑round comfort
