Renovated Two-Family
For Sale
$1,149,000
40-42 Swan Street, Malden, MA 02148
Updated two-family property with separate three-bedroom units, shared laundry, private outdoor space, and off-street parking.
Property Size2,531 SF
Lot Size0.19 Acres
Price / SF$453.97
Days on Market118
Property Features for 40-42 Swan Street
General Information
Standard status
Active
Size
2,531 SF
Total Parking Spaces
6
Lot size
0.19 Acres
Property subtype
Multi-Family
Zoning
ResA
Net Operating Income
$34,928
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Parking per Unit
3
Taxes and HOA fees
Annual Taxes
$12,512
Amenities
shared basement laundry
private backyard
Building Details
Building Size
2,531 SF
Year Built
1920
Buildings
1
Stories
3
Listing Agency:
Sagan Harborside Sotheby's International Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 6
Changed: Aug 29
Last Checked: Aug 30 at 2:06PM
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 Sagan Harborside Sotheby's International Realty
Investment Insights
Based on property information with market context.
The two-family duplex at 40-42 Swan Street contains 2,531 square feet and was built in 1920. Each residence offers three bedrooms and one bathroom, with hardwood flooring, high ceilings, stainless steel appliances, dishwashers, soft-close cabinetry, and under-cabinet lighting. The upper unit adds a bonus attic room, while the lower unit is furnished. Improvements to the roof, electrical, plumbing, kitchens, and bathrooms have been completed since 2021.
A shared basement provides laundry and storage, and the property includes a private backyard and six off-street parking spaces. Situated on an 8,276-square-foot lot in Malden’s Maplewood neighborhood, the property is zoned ResA and is served by MBTA Bus 411 and 430 routes connecting to Malden Center and the Orange Line.
A shared basement provides laundry and storage, and the property includes a private backyard and six off-street parking spaces. Situated on an 8,276-square-foot lot in Malden’s Maplewood neighborhood, the property is zoned ResA and is served by MBTA Bus 411 and 430 routes connecting to Malden Center and the Orange Line.
Key Highlights
- Two‑family duplex with two 3BR/1BA units
- 2,531 square feet on an 8,276‑square‑foot lot
- Roof, electrical, plumbing, kitchens, and baths updated since 2021
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
$53,557
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
4.66%
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%
$1,071,140
$1.1M
Cap Rate 7%
$765,100
$765.1K
Cap Rate 9%
$595,078
$595.1K
Market Conditions
NOI Build-Up for 2,531 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
$80.5K $31.80/SF
− Vacancy
−$4.0K −$1.57/SF
EGI
$76.5K $30.23/SF
− OpEx
−$23.0K −$9.07/SF
NOI
$53.6K $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%
$1,071,140
Cap Rate 7%
$765,100
Cap Rate 9%
$595,078
Alternative Uses
Best Use
Multifamily LT 5
$765.1K
$669.5K – $892.6K
NOI $53,557 @ 7.0% cap · market cap 4.66%
Second Best
Apartment 5plus
$719.4K
$629.5K – $839.3K
NOI $50,358 @ 7.0% cap · market cap 4.38%
Theoretical Best
Office A
$1.50M
$1.31M – $1.75M
NOI $104,884 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
430
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-family property with separate three-bedroom units, shared laundry, private outdoor space, and off-street parking.
Where is this duplex located?
The property is located at 40-42 Swan Street Malden, MA.
What is the asking price?
The asking price for this property is $1,149,000.
What are key features of this property?
This property features: Two‑family duplex with two 3BR/1BA units; 2,531 square feet on an 8,276‑square‑foot lot; Roof, electrical, plumbing, kitchens, and baths updated since 2021
