Two-Family Duplex with Updated
For Sale
$998,000
Pending
98-100 W Wyoming Ave, Melrose, MA 02176
Each unit features two bedrooms, one bathroom, open living and dining, updated kitchens, and walk-in pantries.
Property Size2,388 SF
Days on Market155
Property Features for 98-100 W Wyoming Ave
General Information
Standard status
Pending
Size
2,388 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
URC
Additional Details
Multifamily Units
2
Building Details
Building Size
2,388 SF
Year Built
1900
Stories
3
Tenancy
Multi
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Steve McKenna & The Home Advantage Team
(781) 648-3500
Source:
Cjbarrett
Added: Apr 7
Changed: Sep 7
Last Checked: Jul 23 at 6:29AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This two-family duplex offers flexible residential income living with two spacious traditional layouts. Each unit includes two bedrooms, one bathroom, open living and dining rooms, large updated kitchens, and walk-in pantries. The second unit extends onto the third floor with 2+ additional bedrooms, providing extra room for an office or workout space. An unfinished basement and an outdoor shed add practical storage space.
A commuter rail stop is nearby, and the Middlesex Fells trails are described as minutes away.
The configuration supports separate unit living while maintaining a cohesive duplex structure, with additional third-floor space expanding the options within the second unit.
A commuter rail stop is nearby, and the Middlesex Fells trails are described as minutes away.
The configuration supports separate unit living while maintaining a cohesive duplex structure, with additional third-floor space expanding the options within the second unit.
Key Highlights
- Two‑family home built in 1900
- Each unit features 2 bedrooms, 1 bathroom, and open living and dining rooms
- Both units include updated kitchens with walk‑in pantries
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
$50,531
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
5.06%
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%
$1,010,620
$1.0M
Cap Rate 7%
$721,871
$721.9K
Cap Rate 9%
$561,456
$561.5K
Market Conditions
NOI Build-Up for 2,388 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
$75.9K $31.80/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$72.2K $30.23/SF
− OpEx
−$21.7K −$9.07/SF
NOI
$50.5K $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%
$1,010,620
Cap Rate 7%
$721,871
Cap Rate 9%
$561,456
Alternative Uses
Best Use
Multifamily LT 5
$721.9K
$631.6K – $842.2K
NOI $50,531 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$678.8K
$593.9K – $791.9K
NOI $47,513 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,958 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,237
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
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit features two bedrooms, one bathroom, open living and dining, updated kitchens, and walk-in pantries.
Where is this duplex located?
The property is located at 98-100 W Wyoming Ave Melrose, MA.
What is the asking price?
The asking price for this property is $998,000.
What are key features of this property?
This property features: Two‑family home built in 1900; Each unit features 2 bedrooms, 1 bathroom, and open living and dining rooms; Both units include updated kitchens with walk‑in pantries
