Upgraded Duplex with
For Sale
$1,100,000
615 Salem St, Malden, MA 02148
Two-unit property with separate utilities, remodeled interiors, efficient heat pumps, laundry, and substantial off-street parking.
Property Size4,520 SF
Lot Size0.15 Acres
Price / SF$244.44
Days on Market50
Property Features for 615 Salem St
General Information
Standard status
Active
Size
4,520 SF
Total Parking Spaces
8
Lot size
0.15 Acres
Property subtype
Multifamily
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 5BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,690
Amenities
in-unit laundry
Building Details
Building Size
4,520 SF
Year Built
1900
Buildings
1
Stories
2
Listing Agency:
LA Realty and Property Consulting, LLC
Listed By:
Luca Amara
(617) 905-1004
Source:
Classifiedrealtygroup
Added: Sep 12
Changed: Oct 26
Last Checked: Oct 30 at 11:17AM
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 LA Realty and Property Consulting, LLC
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Investment Insights
Based on property information with market context.
This duplex provides 4,520 square feet of interior space on a 6,500+ square foot lot, with an ADU and separate utilities. The first-floor unit includes two bedrooms, 1.5 baths, and seven rooms, while the second-floor unit offers five bedrooms, one bath, and nine rooms. Both residences feature remodeled kitchens and bathrooms, along with in-unit laundry.
Recent improvements include a 400+ amp electrical service, replacement windows, a new roof, updated plumbing, and an HVAC system with heat pumps. Parking includes an eight-car driveway and a two-car garage. The property is located in Malden Center near shops, restaurants, and MBTA service via the Orange Line and Commuter Rail, with access toward Boston.
Recent improvements include a 400+ amp electrical service, replacement windows, a new roof, updated plumbing, and an HVAC system with heat pumps. Parking includes an eight-car driveway and a two-car garage. The property is located in Malden Center near shops, restaurants, and MBTA service via the Orange Line and Commuter Rail, with access toward Boston.
Key Highlights
- Duplex with ADU and separate utilities
- 4,520 square feet of interior space on a 6,500+ square foot lot
- First floor: 2 bedrooms, 1.5 baths, and 7 rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,222
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,904,440
$1.9M
Cap Rate 7%
$1,360,314
$1.4M
Cap Rate 9%
$1,058,022
$1.1M
Market Conditions
NOI Build-Up for 4,500 SF
Gross rent
$143.1K $31.80/SF
− Vacancy
−$7.1K −$1.57/SF
EGI
$136.0K $30.23/SF
− OpEx
−$40.8K −$9.07/SF
NOI
$95.2K $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%
$1,904,440
Cap Rate 7%
$1,360,314
Cap Rate 9%
$1,058,022
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,222 @ 7.0% cap · market cap 8.66%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,535 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,479 @ 7.0% cap · market cap 16.95%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
978
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property with separate utilities, remodeled interiors, efficient heat pumps, laundry, and substantial off-street parking.
Where is this duplex located?
The property is located at 615 Salem St Malden, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Duplex with ADU and separate utilities; 4,520 square feet of interior space on a 6,500+ square foot lot; First floor: 2 bedrooms, 1.5 baths, and 7 rooms
