Victorian Duplex With Private
For Sale
$1,299,000
16-18 Kernwood St, Malden, MA 02148
Two residential units include separate decks, driveways, and in-unit laundry.
Property Size3,184 SF
Days on Market16
Property Features for 16-18 Kernwood St
General Information
Standard status
Active
Size
3,184 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3-4BR/2BA, 1 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$10,111
Building Details
Building Size
3,184 SF
Year Built
1880
Buildings
1
Construction
Victorian
Listing Agency:
True North Boston Realty LLC
(857) 222-6640
Listed By:
Maria Renda · License #448553250
Source:
Downtownbostonrealty
Added: Aug 5
Changed: Aug 19
Last Checked: Aug 19 at 2:33PM
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 True North Boston Realty LLC
Investment Insights
Based on property information with market context.
Built in 1880, this two-family property combines preserved Victorian-era detailing with practical residential improvements. The larger owner's unit offers 3-4 bedrooms and two full bathrooms, with hardwood floors, millwork, coffered ceilings, oversized windows, a fireplace, an updated kitchen, and second-floor laundry. A private deck extends the living area outdoors.
The second residence provides two bedrooms, one bathroom, in-unit laundry, a private deck, and its own driveway. The property is located at 16-18 Kernwood St in Malden, Massachusetts, and offers a two-unit configuration suitable for rental income or extended-family use.
The second residence provides two bedrooms, one bathroom, in-unit laundry, a private deck, and its own driveway. The property is located at 16-18 Kernwood St in Malden, Massachusetts, and offers a two-unit configuration suitable for rental income or extended-family use.
Key Highlights
- Two‑family property built in 1880
- Owner's unit includes 3‑4 bedrooms and two full bathrooms
- Second unit offers 2 bedrooms and 1 bathroom
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
$67,375
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
5.19%
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%
$1,347,500
$1.3M
Cap Rate 7%
$962,500
$962.5K
Cap Rate 9%
$748,611
$748.6K
Market Conditions
NOI Build-Up for 3,184 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
$101.3K $31.80/SF
− Vacancy
−$5.0K −$1.57/SF
EGI
$96.2K $30.23/SF
− OpEx
−$28.9K −$9.07/SF
NOI
$67.4K $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%
$1,347,500
Cap Rate 7%
$962,500
Cap Rate 9%
$748,611
Alternative Uses
Best Use
Multifamily LT 5
$962.5K
$842.2K – $1.12M
NOI $67,375 @ 7.0% cap · market cap 5.19%
Second Best
Apartment 5plus
$905.0K
$791.9K – $1.06M
NOI $63,351 @ 7.0% cap · market cap 4.88%
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,944 @ 7.0% cap · market cap 10.16%
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
1,604
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 residential units include separate decks, driveways, and in-unit laundry.
Where is this duplex located?
The property is located at 16-18 Kernwood St Malden, MA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Two‑family property built in 1880; Owner's unit includes 3‑4 bedrooms and two full bathrooms; Second unit offers 2 bedrooms and 1 bathroom
