Two-Family Residential Income
7 Park St Melrose, MA 02176
For Sale
$900,000
Well-maintained two-family home with two units, private outdoor space, in-unit laundry, and dedicated parking for each unit.
Property Size2,100 SF
Price / SF$428.57
Days on Market37
Property Features for 7 Park St
General Information
- Standard status
- Active
- Size
- 2,100 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1880
Listing Agency:
Commonwealth Properties Residential, LLC
(617) 830-2624
Listed By:
Prescott White
(617) 830-2624
Source:
Lockandkeyre
Added: Jun 18
Changed: Jul 23
Last Checked: Jul 23 at 8:41AM
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 For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.8k | $31.80 |
| − Vacancy | −$3.3k | −$1.57 |
| EGI | $63.5k | $30.23 |
| − OpEx | −$19.0k | −$9.07 |
| NOI | $44.4k | $21.16 |
2,100 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
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
