Two-Unit Duplex with
For Sale
$875,000
28-30 Crescent Avenue, Melrose, MA 02176
Two separate residences offer kitchens, living areas, bedrooms, and a shared outdoor setting.
Property Size2,472 SF
Price / SF$353.96
Days on Market8
Property Features for 28-30 Crescent Avenue
General Information
Standard status
Active
Size
2,472 SF
Total Parking Spaces
6
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
Berkshire Hathaway HomeServices Verani Realty
Listed By:
Charlotte Marrocco-Mohler
(774) 280-2745
Source:
Broadboutique
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 26 at 7:32AM
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 Berkshire Hathaway HomeServices Verani Realty
Investment Insights
Based on property information with market context.
This 2,472-square-foot duplex, built in 1910, contains two residential units with a combined total of 4 bedrooms and 2 bathrooms. The first-floor residence includes a kitchen, living room, and bedrooms, while the upper unit provides its own kitchen, living/dining area, and bedrooms. The layout supports separate household living within one multifamily property.
A long driveway provides parking for 6 vehicles, and the property includes a spacious backyard for outdoor use. Located at 28-30 Crescent Avenue in Melrose, MA 02176, the property offers a two-family configuration in a residential setting.
A long driveway provides parking for 6 vehicles, and the property includes a spacious backyard for outdoor use. Located at 28-30 Crescent Avenue in Melrose, MA 02176, the property offers a two-family configuration in a residential setting.
Key Highlights
- Two‑unit duplex with 2,472 square feet of total property size
- Combined layout includes 4 bedrooms and 2 bathrooms
- First‑floor unit has a kitchen, living room, and bedrooms
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
$52,308
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
5.98%
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%
$1,046,160
$1.0M
Cap Rate 7%
$747,257
$747.3K
Cap Rate 9%
$581,200
$581.2K
Market Conditions
NOI Build-Up for 2,472 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
$78.6K $31.80/SF
− Vacancy
−$3.9K −$1.57/SF
EGI
$74.7K $30.23/SF
− OpEx
−$22.4K −$9.07/SF
NOI
$52.3K $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%
$1,046,160
Cap Rate 7%
$747,257
Cap Rate 9%
$581,200
Alternative Uses
Best Use
Multifamily LT 5
$747.3K
$653.9K – $871.8K
NOI $52,308 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$702.6K
$614.8K – $819.7K
NOI $49,184 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,439 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
917
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer kitchens, living areas, bedrooms, and a shared outdoor setting.
Where is this duplex located?
The property is located at 28-30 Crescent Avenue Melrose, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,472 square feet of total property size; Combined layout includes 4 bedrooms and 2 bathrooms; First‑floor unit has a kitchen, living room, and bedrooms
