Overview Property Details Payment Calculator Walkability

Add to favorites

Remove from favorites
Send to Friend
Watch changes on this property

Closed

203 Summer St, Malden MA 02148

$1,349,000

Estimated $3,249/month Calculator

Multi Family

Total Units: 2

Price Per Unit: $674,500

Total Rent: 115200/year

Estimated CAP Rate:

10 Bedrooms

Baths

4727

Total Parking: 10

10,006 (0.23)

Cap rate7%! Huge investment cash cow. $9600 rent a month! Conveniently located near the Oak Grove station as well as easy access to churches, shops, restaurants, and numerous parks and reservations. This enormous multifamily is located on over a ¼ acre lot and consists of over 4,700 sqft living space. Features 10 large bedrooms, 6.5 baths, oversized windows allowing extra natural light, high ceilings, a roof deck, and space for over 10+ car parking. Well maintained with a newer fire alarm system as well as a newly renovated kitchen for Unit 2. Split into 2 units, with 6 beds for Unit 1 (1st and 3rd floor), and 4 beds for Unit 2, this arrangement is perfect for dividing Unit 1 into 2 units and/or establishing as a condo, resulting in a 3rd unit with 3 beds, 1 full bath. Both units are currently occupied by tenants, with the 3rd floor vacant. Current rent: Unit 2 - $4,100, Unit 1 - $5,500 ($3000 for fl and 2500 for 3rd fl)

This home has been viewed 43 times

Last Checked: May 7th, 2024 at 3:06am (Source: MLS PIN #73040127)

Gross Income: $115,200

Gross Expenses: $15,134

Net Income Calc: $100,066

Annual Expenses for 203 Summer St, Malden MA 02148

Total Gross Expenses (Calculated)$15,134/year

APOD AvailableYes

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax12734

Annual Income & Unit Breakdown for 203 Summer St, Malden MA 02148

Total Gross Income (Calculated)$115,200

Unit 1

Rental Income$0

LeaseY

Bedrooms6

Bathrooms6 Full, 1 Half

Floor1

Levels in Unit1

Rent Includes

Unit 2

Rental Income$0

LeaseY

Bedrooms4

Bathrooms4 Full

Floor2

Levels in Unit2

Rent Includes

General Information for 203 Summer St, Malden MA 02148

Listing ID73040127

Property TypeMulti Family

Price1349000 ($285.38/SqFt)

StyleMulti Family

CityMalden

CountyMiddlesex

Neighborhood(s)

Approximate Living Area Total4727

Approximate Lot Size (Acres)0.23

Total Parking10

Garage Parking0

Year Built1900

Year Built SourceOwner

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Area9999

Foundation Description

Accessible Features

Outdoor Space

ZoningResA

Water Views

Water Views Features

Waterfront Features

Terms

Disclosures for 203 Summer St, Malden MA 02148

Lead Paint

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourcePublic Records

ExclusionsAll Personal Property.

Financial Data SourceEstimated

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Buyer Agent Compensation2.5

Facilitator Compensation0

Compensation Based OnGross/full Sale Price

Financial Information for 203 Summer St, Malden MA 02148

Real Estate Taxes12734

Tax Year2022

Assessed Value$1,031,100

Financial Data SourceEstimated

Total Gross Expenses By Broker

BostonRealEstate.com Gross Expenses

Total Gross Income By Broker

BostonRealEstate.com Gross Income

Total Net Income By Broker

BostonRealEstate.com Gross NOI

CAP Rate (based on Broker info)

Location Information for 203 Summer St, Malden MA 02148

Elementary SchoolSalem Woods

Middle SchoolSalem Woods

High SchoolMalden High

Neighborhood(s)

Area AmenitiesWalk/jog Trails

Contact Information for 203 Summer St, Malden MA 02148

Agent

Name: Rose Hall

Office

Name: Blue Ocean Realty, LLC

Phone: 617-206-5700

Payment Calculator

, Interest

Property Taxes 1061.17

Principal & Interest 8312.11

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Blue Ocean Realty, LLC

Rose Hall

Agent Phone

Office Phone

(617) 206-5700

Text Agent Call Agent Call Office

Array
(
    [acres] => Approx. 0.23 acres (10,006 SqFt)
    [add_date] => 2024-05-07 03:06:05
    [address] => Summer St
    [agent] => Array
        (
            [address] => 10 Bishops Lane
            [city] => Lynnfield
            [id] => CN200679
            [name] => Rose Hall
            [national_association] => 
            [office] => AN2056
            [state] => MA
            [zip] => 01940
        )

[apod_available] => Array
        (
            [0] => Yes
        )

[appliances] => Array
        (
            [0] => Range
        )

[approx_living_area_total] => 4727
    [approx_lot_size_acres] => 0.23
    [approx_lot_size_sqft] => 10006
    [assessed_value] => $1,031,100
    [association] => 
    [association_fee] => Array
        (
        )

[association_fee_frequency] => Array
        (
        )

[association_fee_includes] => Array
        (
        )

[association_required] => Array
        (
        )

[available_date] => 
    [available_now] => 0
    [basement] => Array
        (
            [0] => Full
        )

[bathrooms] => 
    [bedrooms] => 10
    [building_amenities] => Array
        (
        )

[building_area_source] => Array
        (
            [0] => Public Records
        )

[building_management] => Array
        (
        )

[building_debug] => 
    [building_id] => 
    [building_parent] => 0
    [building_name] => 
    [building_name_from_address] => 
    [building_url] => 
    [buyer_agent_compensation] => 2.5
    [buyer_agent_id] => TM347189
    [buyer_office_id] => BB5962
    [c_style] => Array
        (
        )

[c_type] => Array
        (
            [0] => Multi Family
        )

[cap_rate] => 
    [city] => Malden
    [community_features] => Array
        (
            [0] => Walk/jog Trails
        )

[compensation_based_on] => Array
        (
            [0] => Gross/full Sale Price
        )

[complex_complete] => Array
        (
        )

[construction_materials] => Array
        (
            [0] => Frame
        )

[construction_status] => 
    [cooling] => Array
        (
            [0] => 1
            [1] => Split
        )

[cooperating_agent_commission] => Array
        (
        )

[county] => Middlesex
    [cultivation_acres] => 
    [date_available_note] => 
    [deposit_amount] => Array
        (
        )

[deposit_required] => Array
        (
        )

[deqe] => 
    [description] => Cap rate7%! Huge investment cash cow. $9600 rent a month!  Conveniently located near the Oak Grove station as well as easy access to churches, shops, restaurants, and numerous parks and reservations. This enormous multifamily is located on over a ¼ acre lot and consists of over 4,700 sqft living space.  Features 10 large bedrooms, 6.5 baths, oversized windows allowing extra natural light, high ceilings, a roof deck, and space for over 10+ car parking.  Well maintained with a newer fire alarm system as well as a newly renovated kitchen for Unit 2. Split into 2 units, with 6 beds for Unit 1 (1st and 3rd floor), and 4 beds for Unit 2, this arrangement is perfect for dividing Unit 1 into 2 units and/or establishing as a condo, resulting in a 3rd unit with 3 beds, 1 full bath.  Both units are currently occupied by tenants, with the 3rd floor vacant.  Current rent: Unit 2 - $4,100, Unit 1 - $5,500 ($3000 for fl and 2500 for 3rd fl)
    [disclosures] => 
    [documents_available] => Array
        (
        )

[electric] => Array
        (
            [0] => 220 Volts
        )

[electric_expense] => Array
        (
        )

[elementary_school] => Salem Woods
    [en_suite_bath] => Array
        (
            [0] => Yes
        )

[energy_features] => 
    [entry_level] => Array
        (
        )

[estimated_monthly_payment] => 
    [exclusions] => Array
        (
            [0] => All Personal Property.
        )

[exterior_features] => Array
        (
        )

[facilitator_compensation] => 0
    [fee_paid_by_tennant] => 
    [financial_data_source] => Array
        (
            [0] => Estimated
        )

[fireplaces] => Array
        (
        )

[first_month_required] => Array
        (
        )

[floor_number] => 0
    [flooring] => Array
        (
            [0] => Tile
        )

[for_sale_by_owner] => 
    [foundation_area] => 9999
    [foundation_materials] => Array
        (
        )

[frontage_length] => 
    [full_baths] => 
    [garage_parking] => 0
    [gas] => Array
        (
        )

[gas_expense] => Array
        (
        )

[gross_income] => Array
        (
        )

[half_baths] => 
    [handicap_access] => 
    [heating] => 
    [heating_expense] => Array
        (
        )

[high_school] => Malden High
    [horse_features] => Array
        (
        )

[horse_permitted] => 
    [hot_water] => Array
        (
        )

[id] => 
    [insurance_expense] => Array
        (
        )

[insurance_required] => Array
        (
        )

[interior_features] => Array
        (
            [0] => French Doors
        )

[last_month_required] => Array
        (
        )

[last_sync_date] => 2024-05-07 03:06:05
    [laundry_features] => Array
        (
        )

[lead_paint] => Array
        (
        )

[lease_term] => Array
        (
        )

[levels_in_unit] => 
    [living_area] => 
    [living_area_disclosure] => Array
        (
        )

[living_area_includes_basement] => Array
        (
            [0] => No
        )

[lot_features] => Array
        (
            [0] => Gentle Sloping
        )

[management_expense] => Array
        (
        )

[middle_school] => Salem Woods
    [miscellaneuos_expense] => Array
        (
        )

[mls_area] => 
    [mls_id] => 73040127
    [neighborhoods] => 
    [net_income_calc] => 100066
    [net_operating_income] => Array
        (
        )

[number_of_lots] => Array
        (
        )

[number_of_units] => 2
    [office] => Array
        (
            [id] => AN2056
            [name] => Blue Ocean Realty, LLC
            [phone] => 617-206-5700
        )

[operating_expense] => Array
        (
        )

[optional_fee_includes] => Array
        (
        )

[optional_price] => 0
    [outdoor_space_available] => Array
        (
        )

[owner_occupancy_source] => 
    [parking_features] => Array
        (
            [0] => 1
        )

[pasture_area] => 
    [patio_and_porch] => Array
        (
        )

[perc_test] => Array
        (
        )

[perc_test_date] => 
    [pet_policy] => Array
        (
            [0] => Allowed
        )

[phone] => 
    [pool_features] => Array
        (
        )

[price] => 1349000
    [price_per_sqft] => 285.38
    [price_per_unit] => 674500
    [private_pool] => 
    [property_sub_type] => Array
        (
            [0] => Multi Family
        )

[real_estate_tax] => 12734
    [references_required] => Array
        (
        )

[rent_includes] => Array
        (
        )

[repair_maintenance_expense] => Array
        (
        )

[road_frontage_type] => Array
        (
        )

[roof_material] => Array
        (
            [0] => Asphalt/fiberglass Shingles
        )

[rooms] => 18
    [schools] => 
    [senior_community] => 
    [sewer] => Array
        (
            [0] => Public Sewer
        )

[sewer_expense] => Array
        (
        )

[short_sale] => Array
        (
        )

[special_listing_conditions] => Array
        (
        )

[state] => Massachusetts
    [state_code] => MA
    [status] => Array
        (
            [0] => Closed
        )

[street_number] => 203
    [structure_type] => Array
        (
        )

[style] => Array
        (
        )

[subagent_compensation] => 
    [tag_accessible_features] => 
    [tag_air_conditioning] => 1
    [tag_association_pool] => 
    [tag_beach_access] => 
    [tag_beach_front] => 
    [tag_elevator] => 
    [tag_equestrian] => 
    [tag_garage_parking] => 
    [tag_generator] => 
    [tag_green_features] => 
    [tag_laundry] => 
    [tag_lead_paint_free] => 
    [tag_loft] => 
    [tag_pet_friendly] => 
    [tag_pre_construction] => 
    [tag_private_outdoor_space] => 
    [tag_private_pool] => 
    [tag_professional_management] => 
    [tag_recently_renovated] => 
    [tag_senior_community] => 
    [tag_townhouse] => 
    [tag_waterfront] => 
    [tag_waterview] => 
    [tax_year] => 2022
    [team] => 
    [team_agents] => Array
        (
        )

[terms] => Array
        (
        )

[timber_acres] => 
    [title_5] => 
    [total_gross_expense] => 15134
    [total_gross_income] => 115200
    [total_parking] => 10
    [trash_expense] => Array
        (
        )

[travel_routes] => 
    [uffi] => Array
        (
        )

[unit_1_bathrooms] => 6 Full, 1 Half
    [unit_1_bedrooms] => 6
    [unit_1_floor] => 1
    [unit_1_lease] => Array
        (
            [0] => Y
        )

[unit_1_levels] => 1
    [unit_1_rent] => Array
        (
        )

[unit_2_bathrooms] => 4 Full
    [unit_2_bedrooms] => 4
    [unit_2_floor] => 2
    [unit_2_lease] => Array
        (
            [0] => Y
        )

[unit_2_levels] => 2
    [unit_2_rent] => Array
        (
        )

[unit_3_bathrooms] => 1 Full
    [unit_3_bedrooms] => 3
    [unit_3_floor] => 
    [unit_3_lease] => Array
        (
        )

[unit_3_levels] => 
    [unit_3_rent] => Array
        (
        )

[unit_4_bathrooms] => 
    [unit_4_bedrooms] => 
    [unit_4_floor] => 
    [unit_4_lease] => Array
        (
        )

[unit_4_levels] => 
    [unit_4_rent] => Array
        (
        )

[unit_level] => 
    [unit_number] => 
    [units_owner_occupied] => 
    [unparsed] => 203 Summer St, Malden MA 02148
    [utilities] => Array
        (
        )

[view] => Array
        (
        )

[water] => Array
        (
            [0] => Public
        )

[water_expense] => Array
        (
        )

[water_views] => Array
        (
        )

[water_views_features] => Array
        (
        )

[waterfront] => 
    [waterfront_features] => Array
        (
        )

[year_built] => 1900
    [year_built_details] => Approximate
    [year_built_source] => Owner
    [year_renovated] => 
    [zip] => 02148
    [zips] => 
    [zoning] => ResA
    [zoning_details] => 
    [media] => Array
        (
            [0] => https://www.bostonrealestate.com/wp-content/uploads/WPL/333974/MLS1.jpg
            [1] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=2
            [2] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=3
            [3] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=4
            [4] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=5
            [5] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=6
            [6] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=7
            [7] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=8
            [8] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=9
            [9] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=10
            [10] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=11
            [11] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=12
            [12] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=13
            [13] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=14
            [14] => https://media.mlspin.com/photo.aspx?mls=73040127&w=1024&h=768&n=15
        )

[raw] => 
)

EXIT

13 More Photos