1078 Main St Melrose — Photo 1 of 31
$949,000
Investment Analysis — 1078 Main St
Melrose, MA 02176 — Horace Mann
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02176 carries an estimated $3,380/mo in gross rent — about a 2.64% cap rate and $25,020/yr in estimated NOI at the $949,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1.5
SqFt
1,737
Style
Single Family
Built
1910
Modern Farmhouse perfection in the heart of Melrose! This isn’t just a renovation; it’s a total lifestyle upgrade. House was completely gutted to the studs less than 1 year ago to include new roof, siding, black gutters, high-efficiency HVAC system, on demand water heater, and 1.5 custom appointed baths. This beautiful home blends timeless character with high-end, sophisticated design. From the soaring ceilings to the white-brushed wide-plank flooring throughout the home, every inch feels airy, bright, and brand new.Highlight of the home features a custom Chef’s kitchen with sleek Cafe appliances, quartz countertops, oversize island, large pantry, and more cabinet space than you'll ever need! A brand new maintenance free white picket fence completely encloses the property. This is low-maintenance living at it's best.Location is everything! You’re just moments away from the Highlands Commuter Rail, Orange Line bus, Whole Foods, and multiple shops & restaurants. Commuting and errands have never been easier!
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 869 sq ft (the lesser of 900 sq ft or half the 1,737 sq ft principal dwelling). Lot size: 2,831 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
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.
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Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Tankless Water Heater • Range • Dishwasher • Disposal • Microwave • Refrigerator • Wine Refrigerator • Range Hood
Neighborhood
Public Transportation • Shopping • Park • Laundromat • Highway Access • House of Worship
Geography
Property History
$949,000
Sep 25, 2026
MLS® 73582658
$970,000
May 21, 2026
MLS® 73510453
$899,900
Apr 30, 2026
MLS® 73510453
$550,000
Oct 30, 2025
MLS® 73445882
$599,000
Oct 21, 2025
MLS® 73445882
Listing Agent: Rick Grayson
Listing Office: Compass
MLS® Number: 73582658