25 Cumner Ave · Melrose, MA 02176

$1,249,000

7 bd · 3.0 ba · 2,934 sqft · MultiFamily public records · 21 Days on market

Built 1890 7,200 sqft lot

---

Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Schools +5.3/10.0
• 1% rule +4.7/10.0
• Livability +4.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Rare opportunity to own a well-maintained 3-family home in Melrose’s desirable East Side/Mt. Hood neighborhood! Offering exceptional versatility and investment potential, this property is ideal for investors, owner-occupants, landlords, and multi-generational living alike. Potential exists to easily combine the 2nd and 3rd floor units for expanded owner living space while maintaining rental income. Units 1 and 2 feature sun-filled living and dining areas, spacious rooms, and functional layouts ideal for everyday living and entertaining. Unit 3 was fully renovated in 2018 and offers hardwood floors throughout, central A/C, and exterior deck access overlooking the tree-lined neighborhoo

Key facts

• Fully renovated
• Exterior deck access
• Investment potential

Tags

• EAST SIDE MT HOOD NEIGHBORHOOD
• INVESTMENT POTENTIAL
• FULLY RENOVATED
• HARDWOOD FLOORS
• CENTRAL A C
• EXTERIOR DECK ACCESS

Property features AI

Finance

• HOA & community: Neighborhood amenities include public transportation, shopping, tennis courts, parks, walk/jog trails, golf, medical facility, laundromat, conservation area, highway access, houses of worship, private and public schools, T-Station

Exterior

• Parking: Off-street paved parking; 6 open parking spaces (total 6)
• Utilities: Public water; Public sewer
• Home design: 3-family property; 3 stories; Blue exterior
• Construction: Frame construction; Stone foundation; Shingle roof; Built approximately (per public records)
• Exterior features: Enclosed porch; Rain gutters; Public road frontage; Shed(s)

Interior

• Kitchen: Range; Dishwasher; Refrigerator; Microwave; Disposal
• Flooring: Hardwood; Wood; Laminate; Vinyl; Carpet
• Bathrooms: Four full bathrooms
• Heating & cooling: Forced air heating; Oil and natural gas heating sources; Central air; Window unit(s)
• Interior features: Open floor plan; Living room; Dining room; Kitchen; Office/Den; Ceiling fan(s); Laundry room; Bathroom with tub & shower; Insulated windows; Total of 13 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3 × 5-bed/4.0-bath units multifamily listed at $1.25M.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive. Per door: $565/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.21M (3.4% below list).
• Recommended offer: $1.21M (3.4% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 2.3% in Melrose — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 89/100 on livability (#3 in MA, #147 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Melrose (suburban): math 53% / reading 64% proficiency, ranked #71 of 302 in MA (top 24%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 13% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+2.9%/yr); 30 active listings in the ZIP; high-income renter base; 3,670 units permitted in Middlesex County in 2024 (2,611 in 5+ unit buildings).
• At $12,065/mo this rent would consume 108% of the median local household income ($134k/yr) (locally 959% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $37k of value loss. Plan a longer hold.
• Middlesex County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($1.23M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 60% chance of damaging wind over 30y; extreme-heat days projected 7→14/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,206,500 (3.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.92%
• Cash-on-cash: 5.82%
• DSCR: 1.26
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-95,489
• Equity at exit: $186,230

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $51,607
• Equity at exit: $107,991

Cash invested: $349,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02176

• Rents YoY: 2.9%
• Active inventory: 30
• Price-to-rent: 25.9×

Monthly cashflow live

• Estimated rent: $12,065 medium
• Mortgage (P&I): −$6,550
• Tax from tax record: −$766 /mo · $9,196/yr
• Insurance: −$520
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,534
• Net cashflow: $1,695

Break-even live

Break-even rent $9,920

Max offer price $1,249,000

Occupancy floor 81%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	5	4	$12,066
Total (3 units)			$12,065

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $312,250
• Closing costs: $37,470
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $1,249,000 Active 21 DOM
2. 2026-06-17
   days on market $1,249,000 Active 20 DOM
3. 2026-06-16
   days on market $1,249,000 Active 19 DOM
4. 2026-06-15
   days on market $1,249,000 Active 18 DOM
5. 2026-06-13
   days on market $1,249,000 Active 16 DOM
6. 2026-06-09
   days on market $1,249,000 Active 12 DOM
7. 2026-06-08
   days on market $1,249,000 Active 11 DOM
8. 2026-06-07
   days on market $1,249,000 Active 10 DOM
9. 2026-06-04
   days on market $1,249,000 Active 7 DOM
10. 2026-06-03
    days on market $1,249,000 Active 6 DOM
11. 2026-06-02
    days on market $1,249,000 Active 5 DOM
12. 2026-06-01
    statusdays on market $1,249,000 Active 4 DOM
13. 2026-05-31
    days on market $1,249,000 New 3 DOM
14. 2026-05-28
    listed $1,249,000 New

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $9,196 · $766/mo
• Projected year-2 tax: $12,279 · $1,023/mo
• Expected delta: +$3,083/yr (+$257/mo · 33.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 60% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $144,780
• − Mortgage interest: −$69,963
• − Property taxes: −$9,196
• − Insurance: −$6,245
• − Repairs & maintenance: −$11,582
• − Management: −$11,582
• − Depreciation: −$36,335
• Taxable loss: −$124
• Est. tax savings @ 24.0%: +$30
• After-tax cash flow: $20,366/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Melrose
• NCES district ID: 2507620
• Math proficiency: 53% ▼ -13.00%
• Reading proficiency: 64% ▼ -10.00%
• Median HH income: $86,560
• Composite: 53.29/100
• National rank: #1485
• State rank: #71 of 302 in MA

Livability — Melrose

• Score: 89/100
• State rank: #3
• US rank: #147

Category grades

Amenities A+ Commute A+ Cost of living F Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Melrose, MA
• County: Middlesex County · 1,437,704 people
• City population: 29,650
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 29,650
• Household income: $133,953
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 959.0

Population outlook (Middlesex County) Hauer SSP2

• Today (2025): 1,740,269 people
• By 2030: 1,817,187 · +4.4%
• By 2040: 1,963,195 · +12.8%
• By 2050: 2,087,461 · +20.0%
• By 2075: 2,344,036 · +34.7%
• By 2100: 2,383,776 · +37.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Asian 10% Two or more races 7% Hispanic / Latino 6% Black 2%
• Common ancestry: Romanian 4% Lithuanian 2% Slovak 2%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 79% English-only · Spanish 5% Other Indo-European 5% Chinese 3%

Political lean MEDSL · Middlesex

• 2024 margin: Solid D (+39.5) · D 68.5% · R 29.0% · Other 2.5%
• 2008→2024 swing: +9.3pp toward D · 2008: 30.1pp · 2024: 39.5pp
• All cycles: 2024: D+39.5 2020: D+45.2 2016: D+38.1 2012: D+26.9 2008: D+30.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -489.80%
• Current HPI: 321.0232
• Rent YoY: ▲ 2.94%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

1 event — show timeline

• 2026-05-28 Listed $1,249,000 MLS PIN

Property tax history

+3.6%/yr

Latest (2025): $9,196 · +6.0% YoY. Source: county tax records.