Two-Family Residential Income
For Sale
$589,500
Pending
19 Stevens St, Malden, MA 02148
Two-unit, three-level home with separate utilities and gas heat, positioned for transit access.
Property Size2,541 SF
Days on Market74
Property Features for 19 Stevens St
General Information
Standard status
Pending
Size
2,541 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Stories
3
Listing Agency:
Bond Realty, Inc.
(781) 324-0600
Listed By:
Diane Chuha · License #449500848
(781) 248-7805
Source:
Lockandkeyre
Added: Jun 25
Changed: Sep 5
Last Checked: Jul 8 at 12:44PM
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 Bond Realty, Inc.
Investment Insights
Based on property information with market context.
Philadelphia-style two-family home in the Belmont area, offered for sale in need of extensive updates. The first floor includes an open foyer, full bath, spacious living room, formal dining room with built-in hutch, eat-in kitchen, and a main level bedroom. The second floor provides an open living and dining area with hardwood floors and natural woodwork, plus an office or additional bedroom with a door leading to the front porch and a large eat-in kitchen, along with a full bath on the main level. The third floor includes three spacious bedrooms and attic storage at the eaves. The basement includes newer windows, and the property has separate utilities and gas heat.
The home is described as being close to a bus stop and within walking distance of the Malden Center Orange Line train station.
The seller notes the property may require cash offers and that it may not qualify for financing without a renovation loan. Buyers are responsible for purchasing and installing smoke/co detectors and obtaining a Certificate of Compliance. The deck has been removed, and the property information also specifies not to open the door from the 2nd floor kitchen.
The home is described as being close to a bus stop and within walking distance of the Malden Center Orange Line train station.
The seller notes the property may require cash offers and that it may not qualify for financing without a renovation loan. Buyers are responsible for purchasing and installing smoke/co detectors and obtaining a Certificate of Compliance. The deck has been removed, and the property information also specifies not to open the door from the 2nd floor kitchen.
Key Highlights
- Philadelphia‑style 2‑family home built in 1920 in the Belmont area
- Walking distance to Malden Center Orange Line Station and close to a bus stop
- Separate utilities and gas heat
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
$53,768
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
9.12%
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%
$1,075,360
$1.1M
Cap Rate 7%
$768,114
$768.1K
Cap Rate 9%
$597,422
$597.4K
Market Conditions
NOI Build-Up for 2,541 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
$80.8K $31.80/SF
− Vacancy
−$4.0K −$1.57/SF
EGI
$76.8K $30.23/SF
− OpEx
−$23.0K −$9.07/SF
NOI
$53.8K $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%
$1,075,360
Cap Rate 7%
$768,114
Cap Rate 9%
$597,422
Alternative Uses
Best Use
Multifamily LT 5
$768.1K
$672.1K – $896.1K
NOI $53,768 @ 7.0% cap · market cap 9.12%
Second Best
Apartment 5plus
$722.2K
$632.0K – $842.6K
NOI $50,557 @ 7.0% cap · market cap 8.58%
Theoretical Best
Office A
$1.50M
$1.32M – $1.75M
NOI $105,298 @ 7.0% cap · market cap 17.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,900
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-unit, three-level home with separate utilities and gas heat, positioned for transit access.
Where is this duplex located?
The property is located at 19 Stevens St Malden, MA.
What is the asking price?
The asking price for this property is $589,500.
What are key features of this property?
This property features: Philadelphia‑style 2‑family home built in 1920 in the Belmont area; Walking distance to Malden Center Orange Line Station and close to a bus stop; Separate utilities and gas heat
