Victorian
51 Mount Vernon Street, Malden, MA 02148
For Sale
New
$939,900
Three separate apartments feature period architectural details, varied layouts, and a mix of in-unit and basement laundry.
Property Size3,213 SF
Price / SF$292.53
Days on Market4
Property Features for 51 Mount Vernon Street
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Additional Details
Public Transit
Tenant in Place
Amenities
in-unit laundry
laundry in basement
Building Details
Year Built
Construction
Tenancy
Listing Agency:
Century 21 North East
Listed By:
Kristin Gennetti · License MA #448551493
(781) 704-7040
Source:
Ballowhutchinsonrealestate
Added: Nov 11
Changed: Nov 12
Last Checked: Nov 12 at 2:12PM
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 Century 21 North East
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,213-square-foot Victorian triplex, built in 1906, includes a turret, stained-glass window, high ceilings, and a broad interior staircase. The first and third apartments each have six rooms, three bedrooms, one bathroom, a living room, dining room, and kitchen. The second has five rooms, two bedrooms, one bathroom, a living room, dining room, and kitchen. Units 1 and 3 use oil heat; Unit 2 has gas heat. Laundry is in the basement for Unit 1 and within Units 2 and 3. The property also has three new hot water heaters and requires repairs and updates; it is offered as-is.
Unit 3 is leased through March 1, while Units 1 and 2 may be delivered vacant. Nearby destinations include Malden Train Station, Oak Grove Station, Malden High School, Waitt's Mount, the Northern Strand Bike Trail, and downtown Malden Center. A bus stop is also nearby.
Unit 3 is leased through March 1, while Units 1 and 2 may be delivered vacant. Nearby destinations include Malden Train Station, Oak Grove Station, Malden High School, Waitt's Mount, the Northern Strand Bike Trail, and downtown Malden Center. A bus stop is also nearby.
Key Highlights
- 3,213‑square‑foot triplex built in 1906
- Units 1 and 3 each have 3 bedrooms and 1 bathroom; Unit 2 has 2 bedrooms and 1 bathroom
- Three new hot water heaters; oil heat in Units 1 and 3, gas heat in Unit 2
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$67,988
Cap Rate
7.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,359,760
$1.4M
Cap Rate 7%
$971,257
$971.3K
Cap Rate 9%
$755,422
$755.4K
Market Conditions
NOI Build-Up for 3,213 SF
Gross rent
$102.2K $31.80/SF
− Vacancy
−$5.0K −$1.57/SF
EGI
$97.1K $30.23/SF
− OpEx
−$29.1K −$9.07/SF
NOI
$68.0K $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 Rate 5%
$1,359,760
Cap Rate 7%
$971,257
Cap Rate 9%
$755,422
Alternative Uses
Best Use
Multifamily LT 5
$971.3K
$849.9K – $1.13M
NOI $67,988 @ 7.0% cap · market cap 7.23%
Second Best
Apartment 5plus
$913.3K
$799.1K – $1.07M
NOI $63,928 @ 7.0% cap · market cap 6.80%
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,146 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,928
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
$607,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Middlesex County, MA
Properties on Market for Triplexes in Middlesex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate apartments feature period architectural details, varied layouts, and a mix of in-unit and basement laundry.
Where is this triplex located?
The property is located at 51 Mount Vernon Street Malden, MA.
What is the asking price?
The asking price for this property is $939,900.
What are key features of this property?
This property features: 3,213‑square‑foot triplex built in 1906; Units 1 and 3 each have 3 bedrooms and 1 bathroom; Unit 2 has 2 bedrooms and 1 bathroom; Three new hot water heaters; oil heat in Units 1 and 3, gas heat in Unit 2
