Victorian Duplex with
New
For Sale
$1,075,000
56 Lincoln St, Malden, MA 02148
MULTI_FAMILY - Malden, MA
Property Size3,976 SF
Lot Size0.16 Acres
Price / SF$270.37
Days on Market6
Property Features for 56 Lincoln St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
ResA
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 5, Bedroom 6, Bedroom 4, Bathroom 1, Bedroom 5
Parking
8
Fireplace
1
Directions
GPS
Standard status
Active
APN
M:0021 B:0117 L:0714,592303
Size
3,976 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11113
Building Details
Year built
1800
Floors in Building
4
Number of units
2
Listing Agency:
Keller Williams Realty
(781) 843-3200
Listed By:
Steve Zeboski
(781) 843-3200
Added: Aug 4
Changed: Aug 8
Last Checked: Aug 9 at 9:06AM
MLS# 73558773
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Victorian-style duplex contains 3,976 square feet across two residential units, with high ceilings and architectural details throughout. Unit 2 includes energy-efficient replacement windows installed in 2022 and a spacious primary suite, while Unit 1 offers a functional layout with cosmetic updating needs. A finished lower level adds two bonus rooms, a full bath, and a separate entrance; potential for an ADU is subject to buyer due diligence.
Major improvements include a gas heating system and hot water tank installed in 2024, along with a roof replacement completed in 2018. The property also includes a detached 2-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 dining, and shopping. The property is zoned ResA and was built in 1800.
Major improvements include a gas heating system and hot water tank installed in 2024, along with a roof replacement completed in 2018. The property also includes a detached 2-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 dining, and shopping. The property is zoned ResA and was built in 1800.
Key Highlights
- 3,976‑square‑foot Victorian‑style duplex with two residential units
- Finished lower level with two bonus rooms, full bath, and separate entrance
- Detached 2‑car garage and paved driveway for off‑street parking
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
Property Profile
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 residence with finished lower level, detached garage, and off-street parking near the MBTA Station.
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: 3,976‑square‑foot Victorian‑style duplex with two residential units; Finished lower level with two bonus rooms, full bath, and separate entrance; Detached 2‑car garage and paved driveway for off‑street parking
