Three-Family Residential Income
For Sale
$1,299,000
403-405 Ferry St, Malden, MA 02148
Well-maintained three-unit home with updated units, basement storage, and rear off-street parking.
Property Size4,726 SF
Price / SF$274.86
Days on Market63
Property Features for 403-405 Ferry St
General Information
Standard status
Active
Size
4,726 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
ResA
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,786
Building Details
Building Size
4,726 SF
Year Built
1900
Stories
3
Units
3
Listing Agency:
Keller Williams Realty
(617) 969-9000
Listed By:
Sino-Us Realty Team
(617) 855-5121
Source:
Alliancepartnersre
Added: Jul 3
Changed: Sep 3
Last Checked: Jul 14 at 2:31PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This three-family property offers three separate residential units, each with a spacious living room, three bedrooms, a full bath, and a bright kitchen with modern appliances. The home includes a welcoming front porch and a private rear deck. Unit 2 and Unit 3 were significantly renovated and upgraded last year, and the full basement provides ample storage. The roof is approximately 10 years old, and the water heaters are less than 3 years old. Deleaded.
The property is located near Ferryway School, approximately one block away, with access to Malden Center and connections to the Orange Line, T bus routes, and nearby shops and restaurants.
The configuration supports a range of ownership scenarios, including owner-occupancy with rental income, or investor ownership. With practical unit layouts, recent upgrades to two units, and rear-lot parking for four vehicles plus an optional additional space along the front driveway side, the property is built for day-to-day usability for multiple households.
The property is located near Ferryway School, approximately one block away, with access to Malden Center and connections to the Orange Line, T bus routes, and nearby shops and restaurants.
The configuration supports a range of ownership scenarios, including owner-occupancy with rental income, or investor ownership. With practical unit layouts, recent upgrades to two units, and rear-lot parking for four vehicles plus an optional additional space along the front driveway side, the property is built for day-to-day usability for multiple households.
Key Highlights
- Three‑family home built in 1900 with each unit offering a spacious living room, 3 bedrooms, full bath, and bright kitchen
- Units 2 and 3 were significantly renovated and upgraded last year
- Full basement provides ample storage
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
$100,004
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
7.70%
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%
$2,000,080
$2.0M
Cap Rate 7%
$1,428,629
$1.4M
Cap Rate 9%
$1,111,156
$1.1M
Market Conditions
NOI Build-Up for 4,726 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
$150.3K $31.80/SF
− Vacancy
−$7.4K −$1.57/SF
EGI
$142.9K $30.23/SF
− OpEx
−$42.9K −$9.07/SF
NOI
$100.0K $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%
$2,000,080
Cap Rate 7%
$1,428,629
Cap Rate 9%
$1,111,156
Alternative Uses
Best Use
Multifamily LT 5
$1.43M
$1.25M – $1.67M
NOI $100,004 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$1.34M
$1.18M – $1.57M
NOI $94,031 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$2.80M
$2.45M – $3.26M
NOI $195,844 @ 7.0% cap · market cap 15.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,032
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained three-unit home with updated units, basement storage, and rear off-street parking.
Where is this triplex located?
The property is located at 403-405 Ferry St Malden, MA.
What is the asking price?
The asking price for this property is $1,299,000.
What are key features of this property?
This property features: Three‑family home built in 1900 with each unit offering a spacious living room, 3 bedrooms, full bath, and bright kitchen; Units 2 and 3 were significantly renovated and upgraded last year; Full basement provides ample storage
