Active
3 Days on market
131 Altamont Ave Melrose — Photo 1 of 32

131 Altamont Ave Melrose — Photo 1 of 32

$999,000

131 Altamont Ave, Melrose, MA 02176

Melrose, MA 02176

Investor Analysis

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.

Open Houses

Market Value Analysis

This Property
Size (SqFt) →Price →
This Property$349/sqft
Local Avg (Melrose)$471/sqft
26% BelowMarket Average

* Analysis is based on 24 actively listed and recently sold comparable properties strictly within Melrose, MA.

Property Details

Financials

Original Price$999,000
Annual Taxes$10,502

Parking

Garage0
Off-Street4

Interior Specifications

Total Rooms11
FireplacesNone
FlooringWood, Carpet, Hardwood
BasementFull, Unfinished

Climate & Utilities

HeatingForced Air, Electric, Oil
CoolingWindow Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofAsphalt/Composition Shingles
FoundationStone
ZoningSRB

Property & Lot

Acres0.27
SqFt Lot11,805
Lot FeaturesLevel

Amenities & Appliances

Range • Refrigerator

Neighborhood

Shopping • Highway Access • Public School

Geography

Population

29,650

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$134K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

32.8%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Middlesex County

2,698 housing units permitted in the last 12 months (+3% vs the prior 12 months) — 1,713 in 5+ unit buildings

U.S. Census Bureau, Building Permits Survey (through Jul '26)

Listing Provided By

Listing Agent: The Bill Butler Group

Listing Office: Leading Edge Real Estate

MLS® Number: 73579211

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