Three-Unit Residential Income
For Sale
$999,900
161-165 Madison Street, Malden, MA 02148
Three-family on a corner lot with separate utilities, generous basement storage, and two off-street parking spaces.
Property Size3,248 SF
Price / SF$307.85
Days on Market75
Property Features for 161-165 Madison Street
General Information
Standard status
Active
Size
3,248 SF
Total Parking Spaces
2
Property subtype
Multi-family
Additional Details
Multifamily Units
3
Amenities
basement storage
laundry connection
separate utilities
Building Details
Year Built
1920
Year Renovated
2022
Listing Agency:
Century 21 North East
Listed By:
Kristin Gennetti
(781) 933-7200
Source:
Jmulkerinrealty
Added: May 30
Changed: Aug 12
Last Checked: Aug 12 at 3:22AM
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 residential income property will be delivered vacant, with tenants currently described as tenants at will. The building features Unit 1 as a three-level layout with open-concept living, dining, and kitchen space, a half bath on the first floor, and three bedrooms plus a full bath on the second floor, with an additional room and half bath on the third floor. Unit 2 is configured with a kitchen, bedroom, and full bathroom. Unit 3 spans the second and third floors and includes a living room, kitchen, bedroom, and half and full baths, plus an additional bedroom. A basement offers storage and laundry connections, and the property includes separate utilities.
The units were renovated in 2012, and new siding was completed in 2022. The property is located on a corner lot with two-car off-street parking. It is described as convenient to Boston and nearby MBTA access, along with bus service, major highways, and local retail and dining, with easy access to downtown Malden, Everett, and Assembly Row. The property will be sold AS IS.
The units were renovated in 2012, and new siding was completed in 2022. The property is located on a corner lot with two-car off-street parking. It is described as convenient to Boston and nearby MBTA access, along with bus service, major highways, and local retail and dining, with easy access to downtown Malden, Everett, and Assembly Row. The property will be sold AS IS.
Key Highlights
- Three‑family home on a corner lot, built in 1920, sold AS IS with delivery vacant.
- Unit 1 spans three levels with open living/dining/kitchen, 1/2 bath on the first floor, plus bedrooms and bathrooms on upper levels.
- Unit 2 includes a kitchen, bedroom, and full bathroom, with separate utilities for 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
$68,729
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
6.87%
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%
$1,374,580
$1.4M
Cap Rate 7%
$981,843
$981.8K
Cap Rate 9%
$763,656
$763.7K
Market Conditions
NOI Build-Up for 3,248 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
$103.3K $31.80/SF
− Vacancy
−$5.1K −$1.57/SF
EGI
$98.2K $30.23/SF
− OpEx
−$29.5K −$9.07/SF
NOI
$68.7K $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 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%
$1,374,580
Cap Rate 7%
$981,843
Cap Rate 9%
$763,656
Alternative Uses
Best Use
Multifamily LT 5
$981.8K
$859.1K – $1.15M
NOI $68,729 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$923.2K
$807.8K – $1.08M
NOI $64,624 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,596 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,530
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?
Triplex - Three-family on a corner lot with separate utilities, generous basement storage, and two off-street parking spaces.
Where is this triplex located?
The property is located at 161-165 Madison Street Malden, MA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Three‑family home on a corner lot, built in 1920, sold AS IS with delivery vacant.; Unit 1 spans three levels with open living/dining/kitchen, 1/2 bath on the first floor, plus bedrooms and bathrooms on upper levels.; Unit 2 includes a kitchen, bedroom, and full bathroom, with separate utilities for each unit.
