19 Elliott St Melrose — Photo 1 of 27
$795,000
Investment Analysis — 19 Elliott St
Melrose, MA 02176
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02176 carries an estimated $3,380/mo in gross rent — about a 2.82% cap rate and $22,453/yr in estimated NOI at the $795,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2
SqFt
1,573
Style
Single Family
Built
1955
Set on a quiet, tree-lined street in the desirable East Side of Melrose, this charming Cape offers flexible living space and a long list of meaningful updates. The inviting living room features a fireplace with a classic mantle, while the dining room offers two built-in cabinets adding character and storage. The eat-in kitchen provides ample cabinet and counter space, complemented by new appliances. The expansive first-floor primary bedroom features beamed ceilings, over-sized windows, and sliders leading to a private deck overlooking the rear patio. Two spacious bedrooms and a full bath are located upstairs. Recent improvements include a brand-new roof, new heating system, air conditioning, upgraded electrical service, and new kitchen appliances. Additional features include a one-car garage, vinyl siding, an irrigation system, and a clean unfinished basement offering excellent storage and future potential. The location is a true highlight. Enjoy the peaceful feel of a residential neighborhood while being just minutes from everything that makes Melrose so desirable. Downtown Melrose offers a vibrant mix of locally owned shops, restaurants, cafes, and community amenities, while nearby parks and recreational spaces provide plenty of opportunities to enjoy the outdoors. Multiple MBTA commuter rail stations offer convenient access to Boston and beyond. With its charming character, recent updates and sought-after Melrose location, this home offers a wonderful opportunity to enjoy all that Melrose has to offer while creating a space of your own.
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 787 sq ft (the lesser of 900 sq ft or half the 1,573 sq ft principal dwelling). Lot size: 4,016 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
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 • Dishwasher • Microwave • Refrigerator • Washer • Dryer
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Public Transportation • Park • Walk/Jog Trails • Conservation Area • Highway Access • House of Worship
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Listing Agent: Strobeck Antonell Bull Group
Listing Office: Compass
MLS® Number: 73573762
