38 & 40 Hurd St Melrose — Photo 1 of 26
Recent Drop: $100,000
$1,295,000
Investment Analysis — 38 & 40 Hurd St
Melrose, MA 02176
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-unit multi-family in 02176 carries an estimated $12,300/mo in gross rent — about a 7.78% cap rate and $100,761/yr in estimated NOI at the $1,295,000 list price. Adjust every assumption in the calculator below.
Beds
9
Baths
4
SqFt
3,519
Style
4 Family
Built
1900
Giant 4 Unit in the heart of Melrose! Well-maintained property offering strong income potential and flexible living arrangements. This spacious multi-unit building features 9 bedrooms and 4 full baths across approximately 3,519 sq ft of living space. Units offer functional layouts with bright living areas, updated kitchens, hardwood/vinyl flooring, and separately metered utilities. Additional highlights include off-street parking, shared laundry, and a full basement for storage. Conveniently located near downtown Melrose shops, restaurants, parks, schools, and public transportation, including the Wyoming Hill commuter rail station for easy access to Boston. Excellent opportunity to expand your investment portfolio or offset your mortgage with rental income in one of Melrose’s most desirable neighborhoods
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 MLS and other third-party data may be inaccurate or out of date.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.
Immersive Experience
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • Laundromat
Geography
Property History
$1,295,000
Was $1,350,000
Aug 21, 2026
MLS® 73552211
$1,350,000
Was $1,395,000
Jul 29, 2026
MLS® 73552211
$1,395,000
Jul 20, 2026
MLS® 73552211
$1,450,000
Jul 9, 2025
MLS® 73358885
$1,450,000
Apr 16, 2025
MLS® 73358885
Listing Agent: Jonathan Mathews
Listing Office: Keller Williams Realty Boston-Metro | Back Bay
MLS® Number: 73552211
Related Insights
Melrose Sellers Hold the Pen in a Tight Market
Melrose Home Prices: What Each Buyer Tier Pays
After the Grant Window: Massachusetts First-Time Buyers
Massachusetts Buyers Face a Supply Crunch, Not a Crash
