Two-Family Residential Income
For Sale
$879,999
Pending
32 Myrtle St, Malden, MA 02148
Well-maintained two-family home with two units, 5 bedrooms total, 2.5 baths, and three off-street parking spaces.
Property Size2,236 SF
Days on Market99
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Property Features for 32 Myrtle St
General Information
Standard status
Pending
Size
2,236 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,922
Building Details
Building Size
2,236 SF
Year Built
1910
Listing Agency:
Shore Real Estate LLC
Listed By:
The Vici Group
(571) 334-9628
Source:
Allisonmazer
Added: Jul 9
Changed: Oct 14
Last Checked: Oct 15 at 6:37AM
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 Shore Real Estate LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family residence offers a total of 2,236 square feet with 5 bedrooms and 2.5 baths. Unit 1 is set up with 2 bedrooms and 1 full bath and will be delivered vacant. Unit 2 includes 3 bedrooms and 1.5 baths and features in-unit laundry spread over two floors, and it is currently leased.
The property provides three off-street parking spaces and is described as conveniently located near public transportation, shopping, restaurants, schools, and major commuting routes.
The home’s two separate units and in-unit laundry in Unit 2 create a straightforward owner-occupant or investor configuration, with Unit 1 available for immediate use upon ownership.
The property provides three off-street parking spaces and is described as conveniently located near public transportation, shopping, restaurants, schools, and major commuting routes.
The home’s two separate units and in-unit laundry in Unit 2 create a straightforward owner-occupant or investor configuration, with Unit 1 available for immediate use upon ownership.
Key Highlights
- Well‑maintained two‑family home built in 1910 with 2,236 SF of living space
- Total of 5 bedrooms and 2.5 baths across two units
- Three off‑street parking spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,315
Cap Rate
5.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$946,300
$946.3K
Cap Rate 7%
$675,929
$675.9K
Cap Rate 9%
$525,722
$525.7K
Market Conditions
NOI Build-Up for 2,236 SF
Gross rent
$71.1K $31.80/SF
− Vacancy
−$3.5K −$1.57/SF
EGI
$67.6K $30.23/SF
− OpEx
−$20.3K −$9.07/SF
NOI
$47.3K $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 Rate 5%
$946,300
Cap Rate 7%
$675,929
Cap Rate 9%
$525,722
Alternative Uses
Best Use
Multifamily LT 5
$675.9K
$591.4K – $788.6K
NOI $47,315 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$635.6K
$556.1K – $741.5K
NOI $44,489 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,659 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
913
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home with two units, 5 bedrooms total, 2.5 baths, and three off-street parking spaces.
Where is this duplex located?
The property is located at 32 Myrtle St Malden, MA.
What is the asking price?
The asking price for this property is $879,999.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1910 with 2,236 SF of living space; Total of 5 bedrooms and 2.5 baths across two units; Three off‑street parking spaces
