Two-Family Residential
For Sale
$849,900
Pending
222 Harvard Street, Malden, MA 02148
Well-updated two-unit home with matching layouts, porches, and updated heating and electrical systems.
Property Size2,552 SF
Days on Market137
Property Features for 222 Harvard Street
General Information
Standard status
Pending
Size
2,552 SF
Total Parking Spaces
4
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Senne
(781) 648-6900
Listed By:
Steven Savarese · License #449500301
(617) 962-4823
Source:
Lockandkeyre
Added: Apr 23
Changed: Aug 23
Last Checked: Aug 17 at 2:55AM
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 Senne
Investment Insights
Based on property information with market context.
This two-family residential property features two units with similar layouts, each offering 5 rooms, 2 bedrooms, and 1 bathroom. The first-floor unit includes an enclosed back porch, while the second-floor unit offers enclosed front and back porches. Recent improvements include fresh paint and newly re-finished hardwood floors, along with updated heating systems and electric panels.
The home is situated in a convenient Malden area directly across from a park, with nearby shopping and dining options.
The property also includes a spacious parking area with two dedicated spaces for each unit.
The home is situated in a convenient Malden area directly across from a park, with nearby shopping and dining options.
The property also includes a spacious parking area with two dedicated spaces for each unit.
Key Highlights
- Two‑family home built in 1900 with both units featuring similar layouts: 5 rooms, 2 bedrooms, and 1 bath
- Recent updates include fresh paint and newly refinished hardwood floors in both units
- Updated heating systems and electric panels
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
$54,001
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
6.35%
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%
$1,080,020
$1.1M
Cap Rate 7%
$771,443
$771.4K
Cap Rate 9%
$600,011
$600.0K
Market Conditions
NOI Build-Up for 2,552 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
$81.2K $31.80/SF
− Vacancy
−$4.0K −$1.57/SF
EGI
$77.1K $30.23/SF
− OpEx
−$23.1K −$9.07/SF
NOI
$54.0K $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%
$1,080,020
Cap Rate 7%
$771,443
Cap Rate 9%
$600,011
Alternative Uses
Best Use
Multifamily LT 5
$771.4K
$675.0K – $900.0K
NOI $54,001 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$725.4K
$634.7K – $846.3K
NOI $50,776 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,754 @ 7.0% cap · market cap 12.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,183
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Well-updated two-unit home with matching layouts, porches, and updated heating and electrical systems.
Where is this duplex located?
The property is located at 222 Harvard Street Malden, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑family home built in 1900 with both units featuring similar layouts: 5 rooms, 2 bedrooms, and 1 bath; Recent updates include fresh paint and newly refinished hardwood floors in both units; Updated heating systems and electric panels
