Two-Family Residential Income
For Sale
$900,000
Pending
7 Park St, Melrose, MA 02176
Well-maintained two-family home with two units, private outdoor space, in-unit laundry, and dedicated parking for each unit.
Property Size2,100 SF
Days on Market78
Property Features for 7 Park St
General Information
Standard status
Pending
Size
2,100 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,506
Amenities
private brick patio
deck
in-unit laundry
Building Details
Building Size
2,100 SF
Year Built
1880
Tenancy
Multi
Listing Agency:
Commonwealth Properties Residential, LLC
Listed By:
Prescott White
(617) 600-8415
Source:
Classifiedrealtygroup
Added: Jun 23
Changed: Sep 7
Last Checked: Aug 1 at 5:25AM
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 Commonwealth Properties Residential, LLC
Investment Insights
Based on property information with market context.
This well-maintained two-family home offers approximately 2,100 sq ft of living space and includes two separate units with a total of 6 bedrooms and 2 full bathrooms. Unit 1 features direct access to a private brick patio, while unit 2 includes a deck located just off the kitchen. Both units have in-unit laundry and each unit is assigned 2 dedicated parking spaces, for 4 total.
The property is described as conveniently located near downtown Melrose, Oak Grove Station, and nearby restaurants, shops, and parks.
Per the seller, tenants pay their own electric and gas, and unit 1 will be delivered vacant.
The property is described as conveniently located near downtown Melrose, Oak Grove Station, and nearby restaurants, shops, and parks.
Per the seller, tenants pay their own electric and gas, and unit 1 will be delivered vacant.
Key Highlights
- Well‑maintained two‑family home built in 1880 with approx. 2,100 sq ft total living space
- 6 bedrooms total and 2 full bathrooms across two units
- Unit 1 includes in‑unit laundry and will be delivered vacant; tenants pay their own electric and gas
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
$44,437
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
4.94%
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%
$888,740
$888.7K
Cap Rate 7%
$634,814
$634.8K
Cap Rate 9%
$493,744
$493.7K
Market Conditions
NOI Build-Up for 2,100 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
$66.8K $31.80/SF
− Vacancy
−$3.3K −$1.57/SF
EGI
$63.5K $30.23/SF
− OpEx
−$19.0K −$9.07/SF
NOI
$44.4K $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%
$888,740
Cap Rate 7%
$634,814
Cap Rate 9%
$493,744
Alternative Uses
Best Use
Multifamily LT 5
$634.8K
$555.5K – $740.6K
NOI $44,437 @ 7.0% cap · market cap 4.94%
Second Best
Apartment 5plus
$596.9K
$522.3K – $696.4K
NOI $41,783 @ 7.0% cap · market cap 4.64%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $87,023 @ 7.0% cap · market cap 9.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
887
Businesses Nearby
Explore this area
Business Placement
Demographics for 02176, MA
29,817
Population
12,724
Households
2.3
Avg Household Size
41
Median Age
62%
College-Educated
95%
High-School Grad
4.7 sq mi
ZIP Area
6,344
Density / Sq Mi
$126,854
Median Household Income
$80,293
Median Earnings
$1,933
Median Rent
$796,100
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 - Well-maintained two-family home with two units, private outdoor space, in-unit laundry, and dedicated parking for each unit.
Where is this duplex located?
The property is located at 7 Park St Melrose, MA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Well‑maintained two‑family home built in 1880 with approx. 2,100 sq ft total living space; 6 bedrooms total and 2 full bathrooms across two units; Unit 1 includes in‑unit laundry and will be delivered vacant; tenants pay their own electric and gas
