Two-Unit Residential Income
For Sale
$919,000
36-38 Wentworth St, Malden, MA 02148
Two-family property within walking distance to Malden train station, with separate driveway parking and bonus rooms.
Property Size2,452 SF
Days on Market28
Property Features for 36-38 Wentworth St
General Information
Standard status
Active
Size
2,452 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,995
Amenities
mature fruit trees
grape vines
shed for large tools
bonus rooms
Building Details
Building Size
2,452 SF
Year Built
1920
Stories
6
Units
2
Listing Agency:
(617) 820-6666
Listed By:
Diane Pham
(617) 820-6666
Source:
Elliman
Added: Jul 24
Changed: Aug 8
Last Checked: Aug 19 at 8:13AM
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 Diane Pham
Investment Insights
Based on property information with market context.
This two-family duplex offers separate living for each side, including its own driveway parking. The property includes a shed for large tools, with gas cooking and gas heat. Each unit also has additional bonus rooms that can serve as an office or entertainment room, along with outdoor mature fruit trees and grape vines.
Located on Wentworth St in Malden, the property is described as within walking distance of the Malden train station. BikeScore is listed at 57 and WalkScore at 88, with TransitScore of 69.
Located on Wentworth St in Malden, the property is described as within walking distance of the Malden train station. BikeScore is listed at 57 and WalkScore at 88, with TransitScore of 69.
Key Highlights
- Two‑family home built in 1920, within walking distance to Malden train station
- Separate driveway parking for each unit
- Each unit includes bonus rooms for an office or entertainment room
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
$51,885
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
5.65%
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%
$1,037,700
$1.0M
Cap Rate 7%
$741,214
$741.2K
Cap Rate 9%
$576,500
$576.5K
Market Conditions
NOI Build-Up for 2,452 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
$78.0K $31.80/SF
− Vacancy
−$3.9K −$1.57/SF
EGI
$74.1K $30.23/SF
− OpEx
−$22.2K −$9.07/SF
NOI
$51.9K $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%
$1,037,700
Cap Rate 7%
$741,214
Cap Rate 9%
$576,500
Alternative Uses
Best Use
Multifamily LT 5
$741.2K
$648.6K – $864.8K
NOI $51,885 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$697.0K
$609.8K – $813.1K
NOI $48,787 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,610 @ 7.0% cap · market cap 11.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,499
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
What type of property is this?
Duplex - Two-family property within walking distance to Malden train station, with separate driveway parking and bonus rooms.
Where is this duplex located?
The property is located at 36-38 Wentworth St Malden, MA.
What is the asking price?
The asking price for this property is $919,000.
What are key features of this property?
This property features: Two‑family home built in 1920, within walking distance to Malden train station; Separate driveway parking for each unit; Each unit includes bonus rooms for an office or entertainment room
