Two-Unit Residential Income
9 Elm Street Melrose, MA 02176
9 Elm Street, Melrose, MA, 02176
$1,049,000
For Sale
$1,049,000
Three-story two-family building with two 3-bedroom units, each featuring in-unit laundry and a private porch.
Property Size2,630 SF
Lot Size0.13 Acres
Price / SF$398.86
Days on Market44
Property Features for 9 Elm Street
General Information
- Standard status
- Active
- Size
- 2,630 SF
- Lot size
- 0.13 Acres
- Property subtype
- Multi-family
Building Details
- Year Built
- 1896
Listing agency
Horvath & Tremblay
Listed by
Kelleher - Pentore Team
(508) 867-2800
Source
Miketoomeyrealestate
Added: Jun 8 Updated: Jul 21 at 6:34AM Checked: Jul 21 at 6:34AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This three-story two-family residential income property features two separate 3-bedroom, 1-bath units within a single building. Both units include in-unit laundry and porches, offering everyday convenience and outdoor space. The property is situated on a corner parcel and includes two off-street parking spaces.
Located in downtown Melrose, the building provides access to the city’s central business district as well as nearby neighborhood retail corridors and surrounding residential areas.
The offering presents two well-sized, separately functioning units within one property, supported by the unit-level laundry and porch amenities and dedicated off-street parking.
Located in downtown Melrose, the building provides access to the city’s central business district as well as nearby neighborhood retail corridors and surrounding residential areas.
The offering presents two well-sized, separately functioning units within one property, supported by the unit-level laundry and porch amenities and dedicated off-street parking.
Key Highlights
- Two‑family investment property built in 1896 at 9 Elm Street in Melrose, MA
- Three‑story building with 2 units, each a 3‑bedroom/1‑bath layout
- 2,630 sq ft gross living area and 5,544 sq ft gross area
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 | $83.6k | $31.80 |
| − Vacancy | −$4.1k | −$1.57 |
| EGI | $79.5k | $30.23 |
| − OpEx | −$23.9k | −$9.07 |
| NOI | $55.7k | $21.16 |
2,630 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$795.0K
$695.7K – $927.5K
NOI $55,652 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$747.5K
$654.1K – $872.1K
NOI $52,328 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $108,987 @ 7.0% cap · market cap 10.39%
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 - Three-story two-family building with two 3-bedroom units, each featuring in-unit laundry and a private porch.
Where is this duplex located?
The property is located at 9 Elm Street Melrose, MA.
What is the asking price?
The asking price for this property is $1,049,000.
What are key features of this property?
This property features: Two‑family investment property built in 1896 at 9 Elm Street in Melrose, MA; Three‑story building with 2 units, each a 3‑bedroom/1‑bath layout; 2,630 sq ft gross living area and 5,544 sq ft gross area
