Two-Unit Residential Income
24 Watts Street Malden, MA 02148
24 Watts Street, Malden, MA, 02148
$899,000
For Sale
$899,000
Two separate units with in-unit laundry, central AC on the owner unit, and parking for six cars.
Property Size1,903 SF
Price / SF$472.41
Days on Market109
Property Features for 24 Watts Street
General Information
- Standard status
- Active
- Size
- 1,903 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1920
Listing agency
Littlefield Real Estate,LLC
(781) 389-0791
Listed by
Keith Littlefield
(781) 389-0791
Source
Littlefieldre
Added: Apr 6 Updated: Jul 22 at 9:47AM Checked: Jul 22 at 9:47AM
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 Littlefield Real Estate,LLC
Investment Insights
Based on property information with market context.
This two-unit residential income duplex offers separate entrances, separate gas heating systems, and electric service for each unit. The first-floor unit includes one bedroom, a living room, an eat-in kitchen, and a full bath. The owner’s two-level unit features two bedrooms, 1.5 baths, a living room, a kitchen, and a bonus room that could function as a family room, office, or possible third bedroom. The owner’s unit has central AC and in-unit laundry, along with fresh paint and new wall-to-wall carpeting. Outside, the property includes a nice-size yard with an oversized deck, fire pit, and a storage shed. There is also a full basement for storage.
The duplex is located in the Edgeworth section of Malden, close to parks, shopping, restaurants, and Route 93. Access to dining in Malden or Medford is nearby, and bus service connects to the MBTA.
Parking is available for up to six cars, supporting convenient day-to-day use for residents or guests.
The duplex is located in the Edgeworth section of Malden, close to parks, shopping, restaurants, and Route 93. Access to dining in Malden or Medford is nearby, and bus service connects to the MBTA.
Parking is available for up to six cars, supporting convenient day-to-day use for residents or guests.
Key Highlights
- Versatile multi‑family with two separate units, each with separate entrances and separate heating and electric
- Owner unit (2 levels) includes 2 bedrooms, 1.5 baths, living room, kitchen, and bonus room (family room/office/possible 3rd bedroom)
- Owner unit updates include central A/C, in‑unit laundry, fresh paint, and new wall‑to‑wall carpeting
Local 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 | $60.5k | $31.80 |
| − Vacancy | −$3.0k | −$1.57 |
| EGI | $57.5k | $30.23 |
| − OpEx | −$17.3k | −$9.07 |
| NOI | $40.3k | $21.16 |
1,903 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$575.3K
$503.4K – $671.1K
NOI $40,268 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$540.9K
$473.3K – $631.1K
NOI $37,863 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.13M
$985.8K – $1.31M
NOI $78,860 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate units with in-unit laundry, central AC on the owner unit, and parking for six cars.
Where is this duplex located?
The property is located at 24 Watts Street Malden, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Versatile multi‑family with two separate units, each with separate entrances and separate heating and electric; Owner unit (2 levels) includes 2 bedrooms, 1.5 baths, living room, kitchen, and bonus room (family room/office/possible 3rd bedroom); Owner unit updates include central A/C, in‑unit laundry, fresh paint, and new wall‑to‑wall carpeting
