629 Franklin Street Melrose — Photo 1 of 42
Recent Drop: $54,000
$1,295,000
Investment Analysis — 629 Franklin Street
Melrose, MA 02176 — Melrose Highlands
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 $6,760/mo in gross rent — about a 3.59% cap rate and $46,500/yr in estimated NOI at the $1,295,000 list price. Adjust every assumption in the calculator below.
Beds
6
Baths
3
SqFt
3,564
Style
2 Family - 2 Units Up/Down
Built
1920
One of a kind Architecturally distinctive VICTORIAN offers 3,564 sq.ft. living area across 13 rooms, 6 bedrooms, 3 full baths. Striking bottle glass stucco facade, stained glass window. 9 foot ceilings, hardwood floors, elegant crown moldings and abundant natural light throughout. Separate utilities, walkout basement, off street parking. Owners unit (1st floor) open concept living room, fireplaced dining room, 3 bedrooms, master bedroom with ensuite bath. Unit 2 Kitchen, Living room, dining room, 3+ bedrooms, hardwood floors, in unit laundry.Melrose HIGHLANDS Location convenient to MBTA Commuter Rail Train, MBTA Bus (Route 131), schools, parks, playgrounds, shopping, medical facility. Perfect setup for owner occupants, investors, multigenerational living. Built to accomodate todays lifestyle.Priced to sell for todays market.Buyers to perform their own due diligence regarding other potential uses. Seller would like short rent back after closing. Actively looking for housing. TAW Tenant. $3400/mo FMV rent. Visit OPEN HOUSE or schedule private showing.
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 MLS and other third-party data may be inaccurate or out of date.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.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Disposal • Refrigerator • Oven • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Medical Facility • House of Worship
Geography
Property History
$1,295,000
Was $1,325,000
Sep 3, 2026
MLS® 73543191
$1,325,000
Was $1,349,000
Aug 14, 2026
MLS® 73543191
$1,349,000
Jul 7, 2026
MLS® 73543191
Listing Agent: David Conte
Listing Office: USA Realty Associates
MLS® Number: 73543191
