Victorian Duplex with Two-Car
New
For Sale
$1,075,000
56 Lincoln St, Malden, MA 02148
Two-unit Victorian home with updated major systems, a finished lower level, and convenient access to transit, dining, and shopping.
Property Size3,976 SF
Price / SF$270.37
Days on Market7
Property Features for 56 Lincoln St
General Information
Standard status
Active
Size
3,976 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Building Size
3,976 SF
Year Built
1800
Buildings
1
Construction
Victorian
Listing Agency:
Keller Williams Realty
(617) 657-9766
Listed By:
Eric Yu · License #452508574
(617) 657-9766
Source:
Iverty
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 11:35AM
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.
This two-family Victorian home at 56 Lincoln St includes 3,976 square feet and retains high ceilings and architectural detailing across both units. The second unit has replacement windows installed in 2022 and a large primary suite, while the first offers a functional layout with cosmetic updating needs. Shared improvements include a gas heating system and hot water tank installed in 2024, plus a roof replaced in 2018.
The finished lower level adds two bonus rooms, a full bath, and a separate entrance. The property also includes a detached two-car garage and a paved driveway providing off-street parking. Located in Malden Center, the home is a few blocks from the MBTA Station, local restaurants, and shopping. The lower level may offer ADU potential, subject to buyer due diligence.
The finished lower level adds two bonus rooms, a full bath, and a separate entrance. The property also includes a detached two-car garage and a paved driveway providing off-street parking. Located in Malden Center, the home is a few blocks from the MBTA Station, local restaurants, and shopping. The lower level may offer ADU potential, subject to buyer due diligence.
Key Highlights
- Two‑family Victorian home with 3,976 square feet
- Detached 2‑car garage and expansive paved driveway
- New gas heating system and hot water tank installed in 2024
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
$84,134
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
7.83%
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%
$1,682,680
$1.7M
Cap Rate 7%
$1,201,914
$1.2M
Cap Rate 9%
$934,822
$934.8K
Market Conditions
NOI Build-Up for 3,976 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
$126.4K $31.80/SF
− Vacancy
−$6.2K −$1.57/SF
EGI
$120.2K $30.23/SF
− OpEx
−$36.1K −$9.07/SF
NOI
$84.1K $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%
$1,682,680
Cap Rate 7%
$1,201,914
Cap Rate 9%
$934,822
Alternative Uses
Best Use
Multifamily LT 5
$1.20M
$1.05M – $1.40M
NOI $84,134 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$1.13M
$988.9K – $1.32M
NOI $79,109 @ 7.0% cap · market cap 7.36%
Theoretical Best
Office A
$2.35M
$2.06M – $2.75M
NOI $164,764 @ 7.0% cap · market cap 15.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,053
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit Victorian home with updated major systems, a finished lower level, and convenient access to transit, dining, and shopping.
Where is this duplex located?
The property is located at 56 Lincoln St Malden, MA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Two‑family Victorian home with 3,976 square feet; Detached 2‑car garage and expansive paved driveway; New gas heating system and hot water tank installed in 2024
