Two-Family Home with Private
For Sale
$999,000
131 Altamont Ave, Melrose, MA 02176
Duplex with separate systems, individual outdoor space, hardwood flooring, and off-street parking for both units.
Property Size2,864 SF
Days on Market10
Property Features for 131 Altamont Ave
General Information
Standard status
Active
Size
2,864 SF
Total Parking Spaces
4
Property subtype
Multifamily
Taxes and HOA fees
Annual Taxes
$10,502
Building Details
Building Size
2,864 SF
Year Built
1884
Listing Agency:
Leading Edge Real Estate
Listed By:
The Bill Butler Group
Source:
Classifiedrealtygroup
Added: Sep 18
Changed: Sep 26
Last Checked: Sep 26 at 4:08AM
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 Leading Edge Real Estate
Investment Insights
Based on property information with market context.
Built in 1884, this two-unit residential property at 131 Altamont Ave in Melrose includes 6 bedrooms and 2 bathrooms across more than 2,800 square feet. Each unit has separate systems, hardwood flooring throughout most of the home, high ceilings, and a private deck. The property requires updating throughout, offering a renovation-focused opportunity for an owner-occupant or investor.
Two separate driveways provide off-street parking for up to two cars per unit. The property is located in Melrose, Massachusetts, on a street surrounded by luxury single-family homes.
Two separate driveways provide off-street parking for up to two cars per unit. The property is located in Melrose, Massachusetts, on a street surrounded by luxury single-family homes.
Key Highlights
- Two‑family property with 6 bedrooms and 2 bathrooms
- More than 2,800 square feet across two units
- Separate systems serve each unit
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
$60,603
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
6.07%
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%
$1,212,060
$1.2M
Cap Rate 7%
$865,757
$865.8K
Cap Rate 9%
$673,367
$673.4K
Market Conditions
NOI Build-Up for 2,864 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
$91.1K $31.80/SF
− Vacancy
−$4.5K −$1.57/SF
EGI
$86.6K $30.23/SF
− OpEx
−$26.0K −$9.07/SF
NOI
$60.6K $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%
$1,212,060
Cap Rate 7%
$865,757
Cap Rate 9%
$673,367
Alternative Uses
Best Use
Multifamily LT 5
$865.8K
$757.5K – $1.01M
NOI $60,603 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$814.1K
$712.3K – $949.7K
NOI $56,984 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$1.70M
$1.48M – $1.98M
NOI $118,683 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
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Business Placement
Demographics for 02176, MA
29,817
Population
12,724
Households
2.3
Avg Household Size
41
Median Age
62%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
6,344
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with separate systems, individual outdoor space, hardwood flooring, and off-street parking for both units.
Where is this duplex located?
The property is located at 131 Altamont Ave Melrose, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Two‑family property with 6 bedrooms and 2 bathrooms; More than 2,800 square feet across two units; Separate systems serve each unit
