Three-Family Residential Income
For Sale
$1,137,000
Pending
203-205 Salem St, Malden, MA 02148
Three-family with two first-floor 1-bedroom units and upper-level layouts including a 3-4 bedroom unit and a 1-bedroom with home office.
Property Size4,051 SF
Days on Market77
Property Features for 203-205 Salem St
General Information
Standard status
Pending
Size
4,051 SF
Total Parking Spaces
3
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,894
Building Details
Building Size
4,051 SF
Year Built
1910
Listing Agency:
Century 21 North East
Listed By:
Fermin Group
(978) 208-0449
Source:
Classifiedrealtygroup
Added: Jul 24
Changed: Sep 29
Last Checked: Oct 7 at 9:16AM
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 Century 21 North East
Investment Insights
Based on property information with market context.
This three-family property offers a flexible unit mix across the first and upper levels. The two first-floor units each feature a 1-bedroom layout. On the upper level, one unit is described as a spacious 3-4 bedroom configuration, and the other includes 1 bedroom plus a home office.
The property is positioned for convenient commuting, with access to Malden Center described as just minutes away and multiple bus routes and major commuter highways. It is also stated to provide easy access to downtown Boston and surrounding communities. The remarks note the opportunity to further expand the 203 Salem Street unit by updating the third floor to create a 4-bedroom plus office configuration, adding a potential value-add component for an owner-occupant or investor.
The property is positioned for convenient commuting, with access to Malden Center described as just minutes away and multiple bus routes and major commuter highways. It is also stated to provide easy access to downtown Boston and surrounding communities. The remarks note the opportunity to further expand the 203 Salem Street unit by updating the third floor to create a 4-bedroom plus office configuration, adding a potential value-add component for an owner-occupant or investor.
Key Highlights
- Three‑family in Malden built in 1910
- Two first‑floor units each offer 1‑bedroom layouts
- Upper level at 205 Salem Street features a spacious 3‑4 bedroom configuration
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,721
Cap Rate
7.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,714,420
$1.7M
Cap Rate 7%
$1,224,586
$1.2M
Cap Rate 9%
$952,456
$952.5K
Market Conditions
NOI Build-Up for 4,051 SF
Gross rent
$128.8K $31.80/SF
− Vacancy
−$6.4K −$1.57/SF
EGI
$122.5K $30.23/SF
− OpEx
−$36.7K −$9.07/SF
NOI
$85.7K $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%
$1,714,420
Cap Rate 7%
$1,224,586
Cap Rate 9%
$952,456
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.43M
NOI $85,721 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,601 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,872 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,928
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?
Triplex - Three-family with two first-floor 1-bedroom units and upper-level layouts including a 3-4 bedroom unit and a 1-bedroom with home office.
Where is this triplex located?
The property is located at 203-205 Salem St Malden, MA.
What is the asking price?
The asking price for this property is $1,137,000.
What are key features of this property?
This property features: Three‑family in Malden built in 1910; Two first‑floor units each offer 1‑bedroom layouts; Upper level at 205 Salem Street features a spacious 3‑4 bedroom configuration
