4-Unit
New
For Sale
$1,295,000
40 Hurd St, Melrose, MA 02176
Separately metered utilities and shared laundry serve the property's residential layout.
Property Size3,519 SF
Price / SF$368
Days on Market7
Property Features for 40 Hurd St
General Information
Standard status
Active
Size
3,519 SF
Property subtype
4 Family
Building Details
Year Built
1900
Listing Agency:
Legacy Realty Advisors LLC
(216) 973-3072
Listed By:
Jonathan Mathews
(781) 853-1765
Source:
Lockandkeyre
Added: Sep 29
Changed: Oct 4
Last Checked: Oct 4 at 10:00AM
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 Legacy Realty Advisors LLC
Investment Insights
Based on property information with market context.
Built in 1900, this 3,519-square-foot quadplex contains four units with a combined nine bedrooms and four full bathrooms. Interior features include living areas, updated kitchens, hardwood and vinyl flooring, and separately metered utilities. Shared laundry, a full basement, and off-street parking round out the property’s physical features.
The property is near downtown Melrose shops, restaurants, parks, and schools. Public transportation options include the Wyoming Hill commuter rail station, with service to Boston. The zoning designation is URA.
The property is near downtown Melrose shops, restaurants, parks, and schools. Public transportation options include the Wyoming Hill commuter rail station, with service to Boston. The zoning designation is URA.
Key Highlights
- Four units with 9 bedrooms and 4 full baths
- 3,519 square feet; built in 1900
- Updated kitchens and hardwood/vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,463
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,489,260
$1.5M
Cap Rate 7%
$1,063,757
$1.1M
Cap Rate 9%
$827,367
$827.4K
Market Conditions
NOI Build-Up for 3,519 SF
Gross rent
$111.9K $31.80/SF
− Vacancy
−$5.5K −$1.57/SF
EGI
$106.4K $30.23/SF
− OpEx
−$31.9K −$9.07/SF
NOI
$74.5K $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%
$1,489,260
Cap Rate 7%
$1,063,757
Cap Rate 9%
$827,367
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$930.8K – $1.24M
NOI $74,463 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$1.00M
$875.2K – $1.17M
NOI $70,016 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$2.08M
$1.82M – $2.43M
NOI $145,826 @ 7.0% cap · market cap 11.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,237
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?
Quadplex - Separately metered utilities and shared laundry serve the property's residential layout.
Where is this quadplex located?
The property is located at 40 Hurd St Melrose, MA.
What is the asking price?
The asking price for this property is $1,295,000.
What are key features of this property?
This property features: Four units with 9 bedrooms and 4 full baths; 3,519 square feet; built in 1900; Updated kitchens and hardwood/vinyl flooring
