Three-Family Residential Income
403-405 Ferry Street Malden, MA 02148
403-405 Ferry Street, Malden, MA, 02148
$1,299,000
For Sale
$1,299,000
Three rental units with three bedrooms each, full baths, and updated kitchens, plus a front porch and rear deck.
Property Size4,726 SF
Price / SF$274.86
Days on Market59
Property Features for 403-405 Ferry Street
General Information
- Standard status
- Active
- Size
- 4,726 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Keller Williams Realty
(617) 969-9000
Listed by
Sino-US Realty Team
Source
Eganrealtygroup
Added: May 24 Updated: Jul 21 at 3:20AM Checked: Jul 21 at 3:20AM
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.
Sunny three-family home featuring a spacious living room, three bedrooms, a full bath, and a bright kitchen with modern appliances in each unit. The property includes a welcoming front porch and private rear deck space, with Unit 2 and Unit 3 significantly renovated and upgraded last year. A full basement provides additional storage.
The home is located one block from Ferryway School and offers convenient access to Malden Center, the Orange Line, T bus routes, and nearby shops and restaurants.
Additional highlights include an approximately 10-year-old roof and water heaters that are less than three years old. Parking is available in the rear lot for four vehicles, with one additional optional space along the front driveway side.
The home is located one block from Ferryway School and offers convenient access to Malden Center, the Orange Line, T bus routes, and nearby shops and restaurants.
Additional highlights include an approximately 10-year-old roof and water heaters that are less than three years old. Parking is available in the rear lot for four vehicles, with one additional optional space along the front driveway side.
Key Highlights
- Three‑family home (3 units) built in 1900 with each unit offering a spacious living room, 3 bedrooms, a full bath, and a bright kitchen
- Unit 2 and Unit 3 were significantly renovated and upgraded last year
- Front porch plus private rear deck
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $150.3k | $31.80 |
| − Vacancy | −$7.4k | −$1.57 |
| EGI | $142.9k | $30.23 |
| − OpEx | −$42.9k | −$9.07 |
| NOI | $100.0k | $21.16 |
4,726 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three rental units with three bedrooms each, full baths, and updated kitchens, plus a front porch and rear deck.
Where is this triplex located?
The property is located at 403-405 Ferry Street 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 (3 units) built in 1900 with each unit offering a spacious living room, 3 bedrooms, a full bath, and a bright kitchen; Unit 2 and Unit 3 were significantly renovated and upgraded last year; Front porch plus private rear deck
