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Christopher Sanner & James Riel Facilitate Melrose Multifamily Sale At $1.1M
SOLD
$1,100,000
Massachusetts
See Similar DealsMultiFamily3,762 SF
Sold 04/01/2024
SOLD
Christopher Sanner & James Riel Facilitate Melrose Multifamily Sale At $1.1M
143 Rowe Street
See Similar DealsMultiFamily3,762 SF
Sold 04/01/2024
Summary
MASSACHUSETTS
Asset Type:MultiFamily
Price Per Square Foot:$292
Total Square Footage:3,762 SF
Transaction Type:Sale
A charming Victorian-style 2-family home at 143 Rowe St, Melrose, MA 02176, sold for $1,100,000, boasting two residential units side by side and offering ample square footage and potential.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $1,100,000
- Units: 2
- Price Per Unit: $550,000
- Square Footage: 3,762
- Price Per Square Foot: $292
- Address: 143 Rowe Street, Melrose, MA
- Market: Melrose, MA
- Buyer's Rep: Christopher Sanner - Evo Real Estate Group
- Seller's Rep: James Riel - Jr Associates
The transaction at 143 Rowe Street was overseen by Christopher Sanner of Evo Real Estate Group as the buyer's representative and James Riel of Jr Associates as the seller's representative, ensuring a successful deal for both parties involved.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$58,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$3,908.06
Cash-on-Cash Return-1.27%
Monthly Debt Service$5,214.56
Annual Debt Service$62,574.73
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