Two-Family Residential Income
722 Highland Ave Malden, MA 02148
722 Highland Ave, Malden, MA, 02148
$989,900
For Sale
$989,900
Well-maintained two-family home with two separate units, in-unit laundry, and private outdoor space for each unit.
Property Size2,013 SF
Price / SF$491.75
Days on Market42
Property Features for 722 Highland Ave
General Information
- Standard status
- Active
- Size
- 2,013 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1880
Listing agency
Coldwell Banker Realty - Boston
(978) 578-5013
Listed by
Chris Bernier
(978) 578-5013
Source
Churchillprop
Added: Jun 10 Updated: Jul 21 at 5:40AM Checked: Jul 21 at 5:40AM
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 Coldwell Banker Realty - Boston
Investment Insights
Based on property information with market context.
This well-maintained two-family duplex offers a one-bedroom unit on the first floor and a three-bedroom unit spread across two floors. The first-floor layout includes an eat-in kitchen, in-unit laundry, a walk-in closet, a large mud room/bonus closet space, and a private outdoor deck. The second unit features two bathrooms, in-unit laundry, and an open-concept living area that can accommodate dining space, along with two private outdoor balconies.
The property is served by a parking lot in the back that can comfortably fit three cars, or four with a tandem spot. The roof was completed in 2023, and both heating systems were serviced last year. The three-bedroom unit is planned to be delivered vacant, while the one-bedroom unit is on a month-to-month lease, allowing for flexible near-term occupancy.
Conveniently positioned approximately one mile from Oak Grove Station and I-93, with walking access to Fells Pond and nearby hiking trails at Middlesex Fells Reservation.
The property is served by a parking lot in the back that can comfortably fit three cars, or four with a tandem spot. The roof was completed in 2023, and both heating systems were serviced last year. The three-bedroom unit is planned to be delivered vacant, while the one-bedroom unit is on a month-to-month lease, allowing for flexible near-term occupancy.
Conveniently positioned approximately one mile from Oak Grove Station and I-93, with walking access to Fells Pond and nearby hiking trails at Middlesex Fells Reservation.
Key Highlights
- Well‑maintained 2‑family home built in 1880, available immediately
- Three‑bedroom unit to be delivered vacant; one‑bedroom unit remains on a month‑to‑month lease
- Each unit features in‑unit laundry and private outdoor space (deck for the 1BR; 2 balconies for the 3BR)
Local 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 | $64.0k | $31.80 |
| − Vacancy | −$3.2k | −$1.57 |
| EGI | $60.9k | $30.23 |
| − OpEx | −$18.3k | −$9.07 |
| NOI | $42.6k | $21.16 |
2,013 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$608.5K
$532.5K – $709.9K
NOI $42,596 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$572.2K
$500.7K – $667.5K
NOI $40,052 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,418 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-family home with two separate units, in-unit laundry, and private outdoor space for each unit.
Where is this duplex located?
The property is located at 722 Highland Ave Malden, MA.
What is the asking price?
The asking price for this property is $989,900.
What are key features of this property?
This property features: Well‑maintained 2‑family home built in 1880, available immediately; Three‑bedroom unit to be delivered vacant; one‑bedroom unit remains on a month‑to‑month lease; Each unit features in‑unit laundry and private outdoor space (deck for the 1BR; 2 balconies for the 3BR)
