Building Details

Year Built 1890

Listing Agency: LAER Realty Partners

Listed By: The DiPietro and Bekkenhuis Group Show Phone

Source: Colonialmanorrealty

Added: May 26 Changed: Oct 16 Last Checked: Oct 12 at 8:51PM

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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 LAER Realty Partners

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Investment Insights

Based on property information with market context.

This 3,027-square-foot triplex, built in 1890, contains three residential units with spacious rooms and practical living and dining areas. The third-floor unit was renovated in 2018 and includes hardwood flooring, central A/C, and access to an exterior deck. The property also offers a generous yard, parking, and storage space. A potential combination of the second- and third-floor units is described while retaining rental income from the remaining unit.

Located at 25 Cumner Ave in Melrose’s East Side/Mt. Hood neighborhood, the property is less than 1 mile from downtown Melrose, commuter rail, restaurants, and shopping. The setting includes a tree-lined neighborhood context and outdoor space suited to gatherings.

Key Highlights

• 3,027‑square‑foot triplex with three residential units
• Third‑floor unit renovated in 2018
• Hardwood floors, central A/C, and exterior deck access in Unit 3

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,052

Cap Rate

5.13%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,281,040 $1.3M

Cap Rate 7%

$915,029 $915.0K

Cap Rate 9%

$711,689 $711.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,027 SF

Gross rent

$96.3K $31.80/SF

− Vacancy

−$4.8K −$1.57/SF

EGI

$91.5K $30.23/SF

− OpEx

−$27.5K −$9.07/SF

NOI

$64.1K $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 Rate 5%

$1,281,040

Cap Rate 7%

$915,029

Cap Rate 9%

$711,689

Alternative Uses

Best Use

Multifamily LT 5

$915.0K

$800.7K – $1.07M (±1% cap)

NOI $64,052 @ 7.0% cap · market cap 5.13%

Second Best

Apartment 5plus

$860.4K

$752.8K – $1.00M (±1% cap)

NOI $60,227 @ 7.0% cap · market cap 4.82%

Theoretical Best

Office A

$1.79M

$1.57M – $2.09M (±1% cap)

NOI $125,438 @ 7.0% cap · market cap 10.04%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Parking Lot & Garage Garden Center (Bike/Boat/Book/etc) Store Furniture & Home Goods Bakery Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

3

Residential units

Location Intelligence

Trade Area within ½ mile

186

Businesses Nearby

Explore this area Business Placement

Demographics for 02176, MA

29,817

Population

12,724

Households

2.3

Avg Household Size

41

Median Age

62%

College-Educated

95%

High-School Grad

4.7 sq mi

ZIP Area

6,344

Density / Sq Mi

$126,854

Median Household Income

$80,293

Median Earnings

$1,933

Median Rent

$796,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential units offer flexible layouts, central A/C, and outdoor deck access.

Where is this triplex located?

The property is located at 25 Cumner Avenue Melrose, MA.

What is the asking price?

The asking price for this property is $1,249,000.

What are key features of this property?

This property features: 3,027‑square‑foot triplex with three residential units; Third‑floor unit renovated in 2018; Hardwood floors, central A/C, and exterior deck access in Unit 3