Two-Unit Duplex with Gutted
New
For Sale
$850,000
513-515 Cross St, Malden, MA 02148
The ResA-zoned property contains a first-floor unit and an upper residence across two floors.
Property Size2,662 SF
Price / SF$319.31
Days on Market2
Property Features for 513-515 Cross St
General Information
Standard status
Active
Size
2,662 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Zoning
ResA
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1-2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$9,207
Building Details
Building Size
2,662 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
Conway - West Roxbury
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Sep 9
Last Checked: Sep 9 at 3:18PM
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 Conway - West Roxbury
Investment Insights
Based on property information with market context.
Built in 1900, this Malden duplex includes two separate residential units with distinct layouts. The first-floor residence offers 1-2 bedrooms, 1 full bath, high ceilings, and oversized living and dining room windows. The second unit occupies the second and third floors and includes 3 bedrooms and 2 full baths.
Both kitchens and two of the three bathrooms have been gutted, leaving renovation work in progress. The property also includes a spacious backyard where an accessory dwelling unit may be considered, subject to municipal approval. Located near Eastern Avenue, the property has access to shopping, dining, public transportation, and major routes.
Both kitchens and two of the three bathrooms have been gutted, leaving renovation work in progress. The property also includes a spacious backyard where an accessory dwelling unit may be considered, subject to municipal approval. Located near Eastern Avenue, the property has access to shopping, dining, public transportation, and major routes.
Key Highlights
- Two‑unit duplex at 513‑515 Cross St, Malden, MA 02148
- Built in 1900 and zoned ResA
- First‑floor unit offers 1‑2 bedrooms and 1 full bath
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
$56,329
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
6.63%
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%
$1,126,580
$1.1M
Cap Rate 7%
$804,700
$804.7K
Cap Rate 9%
$625,878
$625.9K
Market Conditions
NOI Build-Up for 2,662 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
$84.7K $31.80/SF
− Vacancy
−$4.2K −$1.57/SF
EGI
$80.5K $30.23/SF
− OpEx
−$24.1K −$9.07/SF
NOI
$56.3K $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%
$1,126,580
Cap Rate 7%
$804,700
Cap Rate 9%
$625,878
Alternative Uses
Best Use
Multifamily LT 5
$804.7K
$704.1K – $938.8K
NOI $56,329 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$756.6K
$662.1K – $882.8K
NOI $52,965 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$1.58M
$1.38M – $1.84M
NOI $110,313 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,263
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?
Duplex - The ResA-zoned property contains a first-floor unit and an upper residence across two floors.
Where is this duplex located?
The property is located at 513-515 Cross St Malden, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex at 513‑515 Cross St, Malden, MA 02148; Built in 1900 and zoned ResA; First‑floor unit offers 1‑2 bedrooms and 1 full bath
