Fully Renovated Two-Unit
For Sale
$1,400,000
183 Madison St, Malden, MA 02148
Two separate, rebuilt units with brand-new kitchens and baths, plus a finished basement and in-unit laundry connections.
Days on Market8
Property Features for 183 Madison St
General Information
Standard status
Active
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
full finished basement
covered porch
newly finished driveway
laundry connections
two-zone heating and cooling
Building Details
Building Size
3,448 SF
Year Built
1900
Construction
frame construction
Tenancy
Multi
Listing Agency:
Reference Real Estate
(781) 241-7451
Listed By:
Dan Siuda
(781) 241-7451
Source:
Elliman
Added: Jul 25
Changed: Jul 26
Last Checked: Aug 1 at 9:27AM
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 Reference Real Estate
Investment Insights
Based on property information with market context.
This two-family duplex has been taken down to the studs for a full gut renovation and is being rebuilt with all-new systems and finishes, with completion targeted for early August. The property will deliver two separate units with independent living spaces, including a two-bedroom unit and a three-bedroom unit. Each unit features a brand-new kitchen and bath, laundry connections, and two heating and cooling zones. A full finished basement provides additional flexible space suitable for entertainment and a home office.
The home is set on a corner lot with a covered porch and a newly finished driveway. Constructed with frame construction, vinyl exterior, and an asphalt shingle roof, it offers straightforward, updated residential income housing. The property is close to the MBTA and Orange Line, Route 1, shopping and parks, and Encore Boston Harbor, with quick access into downtown Boston.
Buyer and buyer’s agent should verify all room counts, square footage, unit configuration, and any rental figures.
The home is set on a corner lot with a covered porch and a newly finished driveway. Constructed with frame construction, vinyl exterior, and an asphalt shingle roof, it offers straightforward, updated residential income housing. The property is close to the MBTA and Orange Line, Route 1, shopping and parks, and Encore Boston Harbor, with quick access into downtown Boston.
Buyer and buyer’s agent should verify all room counts, square footage, unit configuration, and any rental figures.
Key Highlights
- Full gut renovation completed with all‑new systems and finishes; completion targeted for early‑August
- Two‑family with separate 2‑bedroom and 3‑bedroom units, each with its own living space plus brand‑new kitchens and baths
- Finished basement adds flexible space for entertainment and a home office
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $109.6k | $31.80 |
| − Vacancy | −$5.4k | −$1.57 |
| EGI | $104.2k | $30.23 |
| − OpEx | −$31.3k | −$9.07 |
| NOI | $73.0k | $21.16 |
3,448 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$912.0K – $1.22M
NOI $72,961 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$980.1K
$857.6K – $1.14M
NOI $68,604 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$2.04M
$1.79M – $2.38M
NOI $142,884 @ 7.0% cap · market cap 10.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,183
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 separate, rebuilt units with brand-new kitchens and baths, plus a finished basement and in-unit laundry connections.
Where is this duplex located?
The property is located at 183 Madison St Malden, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Full gut renovation completed with all‑new systems and finishes; completion targeted for early‑August; Two‑family with separate 2‑bedroom and 3‑bedroom units, each with its own living space plus brand‑new kitchens and baths; Finished basement adds flexible space for entertainment and a home office
