
131 Altamont Ave Melrose — Photo 1 of 32
$999,000
Investment Analysis — 131 Altamont Ave
Melrose, MA 02176
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-unit multi-family in 02176 carries an estimated $6,550/mo in gross rent — about a 4.93% cap rate and $49,234/yr in estimated NOI at the $999,000 list price. Adjust every assumption in the calculator below.
Beds
6
Baths
2
SqFt
2,864
Style
2 Family - 2 Units Up/Down
Built
1884
Two-family home at 131 Altamont Ave in Melrose, Massachusetts, offering 6 bedrooms, 2 bathrooms, and 2,800+ square feet across two units with great bones and strong renovation potential. Each unit features its own separate systems, hardwood flooring throughout most of the home, and high ceilings that add volume and light to both living spaces. Every unit also includes its own private deck, providing separate outdoor space for both households. Two separate driveways offer off-street parking for up to two cars per unit — a valuable feature in Melrose. The home needs updating throughout, making it well-suited for an owner-occupant or investor looking to build equity through renovation. Located on a street surrounded by luxury single-family homes in one of Melrose's most desirable neighborhoods, this 2,800+ square-foot two-family sits in a thriving Massachusetts market with strong long-term upside. A rare opportunity to reimagine 6 bedrooms and 2 baths across two units in a premier Melrose location.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
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Range • Refrigerator
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Shopping • Highway Access • Public School
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Listing Agent: The Bill Butler Group
Listing Office: Leading Edge Real Estate
MLS® Number: 73579211

