Three-Family Residential Income
203-205 Salem Street Malden, MA 02148
New
For Sale
$1,162,000
Three-family with two first-floor 1-bedroom units and upper-level layouts including a 3-4 bedroom unit and a 1-bedroom with home office.
Property Size4,051 SF
Price / SF$286.84
Days on Market5
Property Features for 203-205 Salem Street
General Information
- Standard status
- Active
- Size
- 4,051 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1910
Listing Agency:
Century 21 North East
Listed By:
Fermin Group
(617) 875-4950
Source:
Sarkisboston
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 25 at 10:35AM
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 property offers a flexible unit mix across the first and upper levels. The two first-floor units each feature a 1-bedroom layout. On the upper level, one unit is described as a spacious 3-4 bedroom configuration, and the other includes 1 bedroom plus a home office.
The property is positioned for convenient commuting, with access to Malden Center described as just minutes away and multiple bus routes and major commuter highways. It is also stated to provide easy access to downtown Boston and surrounding communities. The remarks note the opportunity to further expand the 203 Salem Street unit by updating the third floor to create a 4-bedroom plus office configuration, adding a potential value-add component for an owner-occupant or investor.
The property is positioned for convenient commuting, with access to Malden Center described as just minutes away and multiple bus routes and major commuter highways. It is also stated to provide easy access to downtown Boston and surrounding communities. The remarks note the opportunity to further expand the 203 Salem Street unit by updating the third floor to create a 4-bedroom plus office configuration, adding a potential value-add component for an owner-occupant or investor.
Key Highlights
- Three‑family in Malden built in 1910
- Two first‑floor units each offer 1‑bedroom layouts
- Upper level at 205 Salem Street features a spacious 3‑4 bedroom configuration
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 | $128.8k | $31.80 |
| − Vacancy | −$6.4k | −$1.57 |
| EGI | $122.5k | $30.23 |
| − OpEx | −$36.7k | −$9.07 |
| NOI | $85.7k | $21.16 |
4,051 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.43M
NOI $85,721 @ 7.0% cap · market cap 7.38%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.34M
NOI $80,601 @ 7.0% cap · market cap 6.94%
Theoretical Best
Office A
$2.40M
$2.10M – $2.80M
NOI $167,872 @ 7.0% cap · market cap 14.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-family with two first-floor 1-bedroom units and upper-level layouts including a 3-4 bedroom unit and a 1-bedroom with home office.
Where is this triplex located?
The property is located at 203-205 Salem Street Malden, MA.
What is the asking price?
The asking price for this property is $1,162,000.
What are key features of this property?
This property features: Three‑family in Malden built in 1910; Two first‑floor units each offer 1‑bedroom layouts; Upper level at 205 Salem Street features a spacious 3‑4 bedroom configuration
