Seller's Agent in 2023
Rose Hall
Blue Ocean Realty, LLC
(857) 207-7579
2 in this area
328 Total Sales
203 Summer St Malden, MA 02148
Oak Grove NeighborhoodEstimated Value: $1,430,000 - $1,484,000
10
Beds
6.5
Baths
4,727
Sq Ft
$308/Sq Ft
Est. Value
Highlights
- Medical Services
- Property is near public transit and schools
- Wood Flooring
- 0.23 Acre Lot
- Wooded Lot
- Upgraded Countertops
About This Home
As of March 2023Cap rate7%! Huge investment cash cow. $9600 rent a month! Conveniently located near the Oak Grove station as well as easy access to churches, shops, restaurants, and numerous parks and reservations. This enormous multifamily is located on over a 1⁄4 acre lot and consists of over 4,700 sqft living space. Features 10 large bedrooms, 6.5 baths, oversized windows allowing extra natural light, high ceilings, a roof deck, and space for over 10+ car parking. Well maintained with a newer fire alarm system as well as a newly renovated kitchen for Unit 2. Split into 2 units, with 6 beds for Unit 1 (1st and 3rd floor), and 4 beds for Unit 2, this arrangement is perfect for dividing Unit 1 into 2 units and/or establishing as a condo, resulting in a 3rd unit with 3 beds, 1 full bath. Both units are currently occupied by tenants, with the 3rd floor vacant. Current rent: Unit 2 - $4,100, Unit 1 - $5,500 ($3000 for fl and 2500 for 3rd fl)
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,734
Year Built
- Built in 1900
Lot Details
- 10,006 Sq Ft Lot
- Property fronts a private road
- Wooded Lot
Home Design
- Stone Foundation
- Slate Roof
- Stone
Interior Spaces
- 4,727 Sq Ft Home
- Property has 1 Level
- Insulated Windows
- Living Room
- Storage
- Unfinished Basement
Kitchen
- Range with Range Hood
- Microwave
- Upgraded Countertops
Flooring
- Wood
- Tile
Bedrooms and Bathrooms
- 10 Bedrooms
Laundry
- ENERGY STAR Qualified Dryer
- ENERGY STAR Qualified Washer
Parking
- 10 Car Parking Spaces
- Driveway
- Open Parking
- Off-Street Parking
Schools
- Salem Woods Elementary And Middle School
- Malden High School
Utilities
- Window Unit Cooling System
- Forced Air Heating System
- 3 Heating Zones
- 110 Volts
Additional Features
- Covered Patio or Porch
- Property is near public transit and schools
Listing and Financial Details
- Total Actual Rent $9,600
- Tax Lot 10006
- Assessor Parcel Number M:012 B:051 L:102,591473
Community Details
Overview
- 2 Units
Amenities
- Medical Services
- Shops
Recreation
- Park
- Jogging Path
Building Details
- Water Sewer Expense $2,400
- Operating Expense $2,400
- Net Operating Income $103,200
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 28, 2020
Closed on
Sep 8, 2020
Sold by
Wang Yanming
Bought by
203 Summer St Llc
Seller's Agent
Laura Meier
Compass
Buyer's Agent
Laura Meier
Compass
List Price
$1,400,000
Sold Price
$1,105,000
Premium/Discount to List
-$295,000
-21.07%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$348,921
Avg. Annual Appreciation
5.09%
Original Mortgage
$825,000
Outstanding Balance
$730,184
Interest Rate
3%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$723,737
Purchase Details
Closed on
Oct 23, 2009
Sold by
Wang Yanming
Bought by
Pecci Robert
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$345,000
Interest Rate
4.86%
Purchase Details
Closed on
Sep 30, 1998
Sold by
Malden Redev Authority
Bought by
Wang Yan Ming
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$248,900
Interest Rate
6.89%
Mortgage Type
Purchase Money Mortgage
Purchase Details
Closed on
May 1, 1996
Sold by
Mccole Neil B and Mccole Cecilia T
Bought by
Malden Redev Auth
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| 203 Summer St Llc | $1,105,000 | None Available | |
| Pecci Robert | $143,000 | -- | |
| Wang Yan Ming | $276,600 | -- | |
| Malden Redev Auth | $240,000 | -- | |
| Malden Redev Auth | $240,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | 203 Summer St Llc | $825,000 | |
| Previous Owner | Malden Redev Auth | $345,000 | |
| Previous Owner | Malden Redev Auth | $248,900 | |
| Previous Owner | Malden Redev Auth | $240,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 03/20/2023 03/20/23 | Sold | $1,240,000 | -8.1% | $262 / Sq Ft | |
| 02/24/2023 02/24/23 | Pending | -- | -- | -- | |
| 09/22/2022 09/22/22 | For Sale | $1,349,000 | +22.1% | $285 / Sq Ft | |
| 09/08/2020 09/08/20 | Sold | $1,105,000 | -7.9% | $234 / Sq Ft | View Prior Sale |
| 06/15/2020 06/15/20 | Pending | -- | -- | -- | |
| 05/31/2020 05/31/20 | Price Changed | $1,200,000 | -14.3% | $254 / Sq Ft | |
| 05/28/2020 05/28/20 | For Sale | $1,400,000 | -- | $296 / Sq Ft |
Source: MLS Property Information Network (MLS PIN)
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $14,030 | $1,239,400 | $370,100 | $869,300 |
| 2024 | $13,697 | $1,171,700 | $350,000 | $821,700 |
| 2023 | $13,260 | $1,087,800 | $320,000 | $767,800 |
| 2022 | $12,734 | $1,031,100 | $290,000 | $741,100 |
| 2021 | $12,365 | $1,006,100 | $265,000 | $741,100 |
| 2020 | $9,959 | $787,300 | $252,000 | $535,300 |
| 2019 | $9,465 | $713,300 | $240,000 | $473,300 |
| 2018 | $9,146 | $649,100 | $202,500 | $446,600 |
| 2017 | $8,896 | $627,800 | $202,500 | $425,300 |
| 2016 | $8,474 | $559,000 | $192,500 | $366,500 |
| 2015 | $8,074 | $513,300 | $181,500 | $331,800 |
| 2014 | $7,482 | $464,700 | $165,000 | $299,700 |
Source: Public Records
Agents Affiliated with this Home
-
Rose Hall
-
Sandy Zhang
Seller Co-Listing Agent in 2023
Sandy Zhang
JW Real Estate Services, LLC
(617) 987-7399
1 in this area
18 Total Sales
-
Fleet Homes Group
F
Buyer's Agent in 2023
Fleet Homes Group
Keller Williams Realty
(508) 439-3099
1 in this area
187 Total Sales
-
Laura Meier
Seller's Agent in 2020
Laura Meier
Compass
(508) 208-5215
28 Total Sales
Map
Source: MLS Property Information Network (MLS PIN)
MLS Number: 73040127
APN: MALD-000012-000051-000102
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.
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