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Melrose 02176 Wyoming
244 Main Street
Photo of 244 Main Street

3

Map

Photo of 244 Main Street
Photo of 244 Main Street
$3,000,000
● Land - In Contract

244 Main Street

Melrose, MA 02176
bedrooms
Studio
bathrooms
0 Bath
$15,572
Est. Monthly

About This Property

REDEVELOPMENT OPPORTUNITY! This home is being offered in connection with the sale of 236-238 Main Street. Combining both lots will create a 31,737sqft lot. Under special permitting by the city that would allow the possibility for 9 units to be built, if not more. Seller makes no representations as to the cities willingness to grant such special permit and makes no warranties about the potential highest and best use. All due diligence is the buyer's/buyer's agents responsibility. On the MBTA bus line, Commuter Rail a short walk, as well as Downtown Melrose. Lot boundaries drawn in photos are approximate and for reference only.
Unit Size
-
Days on Market
-
Land Size
0.43 acres
Price per sqft
-
Property Type
Land
Property Taxes
$841
HOA Dues
-
Year Built
-

Listed By

Kevin Sexton
Century 21 Sexton & Donohue

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Cap Rate Calculator

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Cap Rate 100% Occupancy
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What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 12 months ago (MLSPIN #73443403)

Price History

Date / Event Date Event Price
Nov 26, 2025 In contract -
In contract
Oct 13, 2025 Listed by William Raveis R.E. & Home Services $3,000,000
Listed by William Raveis R.E. & Home Services
Aug 17, 1983 Sold
Premium
Sold

Property Highlights

Exterior Details
Building Area Units: Square Feet
Lot Features: Sloped
Lot Size Area: 0.43
Lot Size Units: Acres
Lot Size Acres: 0.43
Lot Size Square Feet: 18539
Water Source: Public, On-Site
Financial Details
Tax Assessed Value: $1,019,000
Tax Annual Amount: $10,088
Utilities Details
Sewer : Public Sewer, On-Site

Building Info

Overview

    General

  • Building Count: 1
  • Total Rooms: 16
  • Bedroom Count: 10
  • Bathroom Count: 4
  • Full Bathrooms: 3
  • Partial Bathrooms: 4
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 15
  • Exterior Walls Type: 18
  • Interior Walls Type: 0
  • Roof Shape Type: 8
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 2
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,860
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 18,539
  • Total Building Area: 3,792
  • Gross Building Area: 6,422
  • Building Area: 3,792
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 10
  • Heated Square Feet: 3,792
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000426
  • Standard Land Use Code: 1101
  • County Land Use Code: 104

Neighborhood

  • School District Name: Melrose School District
  • School Tax School District: MELROSE SD
  • Census Tract: 336404

Zoning

  • Zoning: URB

Geography

  • Parcel: MELR M:0C5 P:0000024
  • Municipality: MELROSE
  • Latitude: 42.4491
  • Longitude: -71.0684

    Address

  • Full Address: 244 Main St
  • Address - House Number: 244
  • Address - Street Name: Main
  • Address - Suffix Type: St
  • State: MA
  • City Name: Melrose
  • Carrier Code: C016
  • 4-Digit Zip Code: 5231
  • Zip Code: 02176

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $952,600

    Appraisal Valuation

  • Standard Deviation: 0.1605
  • Valuation Date: Feb 07, 2024
  • Confidence Score: 79
  • Final Value: 1,047,156
  • High Value: 1,215,255
  • Low Value: 879,056

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $959,300
  • Assessed Land Value: $415,100
  • Assessed Improvements Value: $544,200

    Sales

  • Current Sale Recording Date: Aug 17, 1983
  • Current Sale Price:
    Premium
  • Current Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Wyoming

Stats & Trends

Median Asking:

$669,000

Sale Price/ft²

$500

Below Asking

0.01%

Average Days on Market

50

Average Home Size

1553 ft²

Average Home Age

86.9 years

Currently For Sale

8 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Unit for rent at 75 Pleasant St, Stoneham, 02180

$1,500 /mo

  • Studio
  • 1 Bath
75 Pleasant St, Stoneham, 02180 Listing by Inbound Real Estate

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 12 months ago
Data Source: MLS PIN, MLS# 73443403

Frequently Asked Questions

When was property at 244 Main Street built and last sold?
The property at 244 Main Street was built in and last sold on Jan 1, 1970 for $127,500.
How much is this home worth?
The estimated value of the home located at 244 Main Street is $3,030,000.
What are some comparable homes to 244 Main Street?
There are currently no comparable homes to 244 Main Street.
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