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56 Franklin Street, Melrose MA 02176

$1,189,000

Estimated $2,758/month Calculator

Multi Family

Total Units: 2

Price Per Unit: $594,500

Total Rent: 0/year

Estimated CAP Rate:

5 Bedrooms

Baths

2680

Total Parking: 4

8,242 (0.19)

*A Rare Opportunity Offering Exceptional Flexibility, Character & Income Potential!**This charming townhouse blends timeless period character with thoughtful modern updates, while offering the added benefit of a **brand-new, attached, two-level, HERS-rated 900 sq. ft. Accessory Dwelling Unit (ADU)**—an incredible opportunity for multi-generational living, extended family, guests, or potential rental income.The main townhouse is filled with character and period charm, boasting high ceilings, beautiful hardwood floors, and generously proportioned rooms. The flexible layout features an inviting living room and open dining area, along with an eat-in kitchen offering abundant cabinetry, granite countertops, and stainless steel appliances. A first-floor primary bedroom with a spacious walk-in closet/office & a full bath complete the main level. Upstairs, you'll find two additional generously sized bedrooms and a beautifully updated full bath featuring a walk-in shower, tile flooring, and convenient second-floor laundry. A storage shed, side yard, side porch & 2 car parking are also included. The **brand-new, two-level ADU** is an exceptional addition, thoughtfully designed with approximately 900 sq. ft. of living space & is HERS rated & all electric central Heat & AC. This impressive second living space has it's own entrance from the back driveway on the 2nd level and is all new, featruing an open-concept kitchen & livingroom with a center island, granite, stainless steel appliances, 2bdrms & a full bath. The ADU also has its own deck and exclusive yard area & 2-car parking. Additional highlights for both include basement storage, new roofs, central A/C, new & newly refinished hardwood floors, fresh interior and exterior paint. Ideally located within walking distance to the Oak Grove bus, Highlands Commuter Rail, Whole Foods, restaurants, and Melrose High and Middle Schools, with easy access to the Fells Reservation, Route 1, and Route 93.**A truly unique offering combining the charm of a classic Melrose home with the versatility of a brand-new, energy-efficient ADU. Enjoy the flexibility, convenience, and lifestyle this exceptional property provides, all in a welcoming community just 7 miles from Boston!**

This home has been viewed 29 times

Last Checked: November 8th, 2026 at 8:13am (Source: MLS PIN #73599976)

Gross Income: $0

Gross Expenses: $9,965

Net Income Calc: $9,965

Water Views

Annual Expenses for 56 Franklin Street, Melrose MA 02176

Total Gross Expenses (Calculated)$9,965/year

APOD AvailableNo

Heating

Electricity

Water

Gas

Insurance

Sewer

Trash Removal

Repair & Maintenance

Management

Miscellaneous

Real Estate Tax9965

Annual Income & Unit Breakdown for 56 Franklin Street, Melrose MA 02176

Total Gross Income (Calculated)$0

Unit 1

Rental Income$0

LeaseN

Bedrooms3

Bathrooms2 Full

Floor2

Levels in Unit2

Rent Includes

Unit 2

Rental Income$0

LeaseN

Bedrooms2

Bathrooms1 Full, 1 Half

Floor2

Levels in Unit2

Rent Includes

General Information for 56 Franklin Street, Melrose MA 02176

Listing ID73599976

Property TypeMulti Family

Price1189000 ($443.66/SqFt)

StyleMulti Family

CityMelrose

CountyMiddlesex

Neighborhood(s)

Approximate Living Area Total2680

Approximate Lot Size (Acres)0.19

Total Parking4

Garage Parking0

Year Built1900

Year Built SourcePublic Records

Year Built DetailsApproximate

WaterPublic

SewerPublic Sewer

Electric220 Volts

Hot Water

Roof MaterialAsphalt/fiberglass Shingles

BasementFull

Construction MaterialsFrame

Lot FeaturesGentle Sloping

Foundation Description

Accessible Features

Outdoor SpaceCovered

ZoningURC

Water ViewsNo

Water Views Features

Waterfront0

Waterfront Features

Terms

Disclosures for 56 Franklin Street, Melrose MA 02176

Lead PaintNone

UFFI

Living Area Includes BasementNo

Living Area Disclosure

Building Area SourceMeasured

ExclusionsTenants Belongings.

Financial Data Source

Total Gross Expenses By Broker

Total Gross Income By Broker

Total Net Income By Broker

Short Sale / Forclosure (Bank Owned)

Compensation Based On

Financial Information for 56 Franklin Street, Melrose MA 02176

Real Estate Taxes9965

Tax Year2026

Assessed Value$868,800

Financial Data Source

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 56 Franklin Street, Melrose MA 02176

Elementary SchoolAsk Super

Middle SchoolMelrose Middle

High SchoolMelrose High

Neighborhood(s)

Area AmenitiesWalk/jog Trails

Contact Information for 56 Franklin Street, Melrose MA 02176

Agent

Name: Leeman & Gately

Office

Name: Compass

Phone: 617-206-3333

Team Members

Name: Lorraine Gately

Payment Calculator

, Interest

Property Taxes 830.42

Principal & Interest 7326.24

HOA Dues

Term

Interest

Home Price

Down Payment

Exclusive Listing Agent

Compass

Leeman & Gately

Agent Phone

Office Phone

(617) 206-3333

Text Agent Call Agent Call Office

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EXIT

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