2-Unit Duplex with Finished Third-Floor
For Sale
$1,250,000
Pending
48-50 Melrose Street, Arlington, MA 02474
Separate laundry areas, basement storage, and a private deck add practical features across the two residences.
Property Size2,469 SF
Days on Market26
Property Features for 48-50 Melrose Street
General Information
Standard status
Pending
Size
2,469 SF
Property subtype
Multi Family
Building Details
Year Built
1940
Listing Agency:
Doherty Properties
Listed By:
Chris Doherty, Esq.
(978) 857-9580
Source:
Dohertyproperties
Added: Oct 5
Changed: Oct 28
Last Checked: Oct 28 at 3:29PM
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 Doherty Properties
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Investment Insights
Based on property information with market context.
This 2,469-square-foot duplex, built in 1940, contains two residences with distinct layouts. The first-floor unit has hardwood floors in its living room, dining room, and bedrooms, plus an eat-in kitchen with pantry and laundry in the basement. The other residence spans two levels, with two bedrooms and an office on its main level, an enclosed front porch, eat-in kitchen, separate laundry room, and private rear deck. Its third floor includes a bedroom and additional open space. A newer roof, a furnace serving the second unit, and a double driveway are also part of the property.
The property is near Mass Ave, the Minuteman Bikeway, Alewife T Station, Route 2, and public bus service.
The property is near Mass Ave, the Minuteman Bikeway, Alewife T Station, Route 2, and public bus service.
Key Highlights
- Two‑unit property totaling 2,469 square feet
- Second residence includes two bedrooms, an office, a third‑floor bedroom, and open space
- First‑floor unit has hardwood floors in the living room, dining room, and bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,245
Cap Rate
4.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,044,900
$1.0M
Cap Rate 7%
$746,357
$746.4K
Cap Rate 9%
$580,500
$580.5K
Market Conditions
NOI Build-Up for 2,469 SF
Gross rent
$78.5K $31.80/SF
− Vacancy
−$3.9K −$1.57/SF
EGI
$74.6K $30.23/SF
− OpEx
−$22.4K −$9.07/SF
NOI
$52.2K $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%
$1,044,900
Cap Rate 7%
$746,357
Cap Rate 9%
$580,500
Alternative Uses
Best Use
Multifamily LT 5
$746.4K
$653.1K – $870.8K
NOI $52,245 @ 7.0% cap · market cap 4.18%
Second Best
Apartment 5plus
$701.8K
$614.1K – $818.8K
NOI $49,125 @ 7.0% cap · market cap 3.93%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,315 @ 7.0% cap · market cap 8.19%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,159
Businesses Nearby
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Business Placement
Demographics for 02474, MA
28,551
Population
12,541
Households
2.3
Avg Household Size
40
Median Age
74%
College-Educated
98%
High-School Grad
3.1 sq mi
ZIP Area
9,210
Density / Sq Mi
$139,199
Median Household Income
$80,498
Median Earnings
$2,157
Median Rent
$887,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate laundry areas, basement storage, and a private deck add practical features across the two residences.
Where is this duplex located?
The property is located at 48-50 Melrose Street Arlington, MA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Two‑unit property totaling 2,469 square feet; Second residence includes two bedrooms, an office, a third‑floor bedroom, and open space; First‑floor unit has hardwood floors in the living room, dining room, and bedrooms
