Two-Family Hilltop
For Sale
$1,050,000
Pending
46 Oakland Street, Melrose, MA 02176
Two updated eat-in kitchens with separate utilities, off-street parking, and a shared patio overlooking the surrounding area.
Property Size2,600 SF
Days on Market41
Property Features for 46 Oakland Street
General Information
Standard status
Pending
Size
2,600 SF
Property subtype
Multi Family
Building Details
Year Built
1900
Listing Agency:
Compass
(617) 957-0521
Listed By:
Lisa Howitt
(617) 957-0521
Source:
Lockandkeyre
Added: Jul 15
Changed: Aug 24
Last Checked: Jul 26 at 7:36AM
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 Compass
Investment Insights
Based on property information with market context.
This two-family hilltop residence offers two separate updated eat-in kitchens and a layout designed for independent living. The home features natural woodwork and beamed ceilings, along with separate updated utilities for each unit. Off-street parking is available, and residents can enjoy a shared patio.
Set on an expansive 10,000+ square foot lot, the property sits high above the street. The commuter convenience is highlighted in the proximity to train service to Boston, described as just three blocks away. Area amenities noted in the remarks include the weekly Farmers Market at Bowden Park, Bohemian Coffee House, downtown Melrose, and nearby grocery and retail options.
With its duplex configuration and separate utility setup, the property is presented as suitable for owner-occupancy or investment, according to the seller’s notes.
Set on an expansive 10,000+ square foot lot, the property sits high above the street. The commuter convenience is highlighted in the proximity to train service to Boston, described as just three blocks away. Area amenities noted in the remarks include the weekly Farmers Market at Bowden Park, Bohemian Coffee House, downtown Melrose, and nearby grocery and retail options.
With its duplex configuration and separate utility setup, the property is presented as suitable for owner-occupancy or investment, according to the seller’s notes.
Key Highlights
- Two‑family home built in 1900 with timeless character features including natural woodwork and beamed ceilings
- Two updated eat‑in kitchens
- Separate updated utilities for each unit
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
$55,017
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
5.24%
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%
$1,100,340
$1.1M
Cap Rate 7%
$785,957
$786.0K
Cap Rate 9%
$611,300
$611.3K
Market Conditions
NOI Build-Up for 2,600 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
$82.7K $31.80/SF
− Vacancy
−$4.1K −$1.57/SF
EGI
$78.6K $30.23/SF
− OpEx
−$23.6K −$9.07/SF
NOI
$55.0K $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%
$1,100,340
Cap Rate 7%
$785,957
Cap Rate 9%
$611,300
Alternative Uses
Best Use
Multifamily LT 5
$786.0K
$687.7K – $917.0K
NOI $55,017 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$739.0K
$646.6K – $862.2K
NOI $51,731 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,743 @ 7.0% cap · market cap 10.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,009
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?
Duplex - Two updated eat-in kitchens with separate utilities, off-street parking, and a shared patio overlooking the surrounding area.
Where is this duplex located?
The property is located at 46 Oakland Street Melrose, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two‑family home built in 1900 with timeless character features including natural woodwork and beamed ceilings; Two updated eat‑in kitchens; Separate updated utilities for each unit
