Three-Story Side-by-Side
For Sale
$1,250,000
13-15 Albion Street, Malden, MA 02148
Side-by-side units feature separate utilities, private outdoor space, and off-street parking from two driveways.
Property Size4,715 SF
Lot Size0.17 Acres
Price / SF$265.96
Days on Market27
Property Features for 13-15 Albion Street
General Information
Standard status
Active
Size
4,715 SF
Lot size
0.17 Acres
Property subtype
2 Family - 2 Units Side by Side
Taxes and HOA fees
Annual Taxes
$12,249
Building Details
Building Size
4,715 SF
Year Built
1815
Stories
3
Listing Agency:
Bernazzani Real Estate, LLC
Listed By:
Brendon Bernazzani · License #9566442-RE-B
Source:
Jonathanradford
Added: Jul 17
Changed: Aug 8
Last Checked: Aug 12 at 3:47PM
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 Bernazzani Real Estate, LLC
Investment Insights
Based on property information with market context.
This oversized two-family property offers 4,700 square feet of side-by-side living space across three stories. Each unit has an identical floor plan with 4+ bedrooms and 1 bathroom arranged over three levels. Kitchens, living rooms, and dining rooms are located on the first level, while the bedrooms occupy the second and third floors. The property includes separate utilities for each unit.
Set on a 7,500 square foot parcel, the property provides two driveways with off-street parking, a private backyard, and a storage shed. Public transportation, shopping, dining, and entertainment are only minutes away, with the property located just outside Malden Center. Built in 1815.
Set on a 7,500 square foot parcel, the property provides two driveways with off-street parking, a private backyard, and a storage shed. Public transportation, shopping, dining, and entertainment are only minutes away, with the property located just outside Malden Center. Built in 1815.
Key Highlights
- 4,700 square feet of side‑by‑side living space across three stories
- Each unit includes 4+ bedrooms and 1 bathroom
- 7,500 square foot parcel with private backyard and storage shed
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
$99,454
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
7.96%
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%
$1,989,080
$2.0M
Cap Rate 7%
$1,420,771
$1.4M
Cap Rate 9%
$1,105,044
$1.1M
Market Conditions
NOI Build-Up for 4,700 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
$149.5K $31.80/SF
− Vacancy
−$7.4K −$1.57/SF
EGI
$142.1K $30.23/SF
− OpEx
−$42.6K −$9.07/SF
NOI
$99.5K $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%
$1,989,080
Cap Rate 7%
$1,420,771
Cap Rate 9%
$1,105,044
Alternative Uses
Best Use
Multifamily LT 5
$1.42M
$1.24M – $1.66M
NOI $99,454 @ 7.0% cap · market cap 7.96%
Second Best
Apartment 5plus
$1.34M
$1.17M – $1.56M
NOI $93,514 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$2.78M
$2.43M – $3.25M
NOI $194,767 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,354
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 - Side-by-side units feature separate utilities, private outdoor space, and off-street parking from two driveways.
Where is this duplex located?
The property is located at 13-15 Albion Street Malden, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 4,700 square feet of side‑by‑side living space across three stories; Each unit includes 4+ bedrooms and 1 bathroom; 7,500 square foot parcel with private backyard and storage shed
