Melrose, MA Real Estate
An Overview
The enclave of Melrose lies roughly 7 miles north of the City of Boston "as the crow flies". Traveling between these destinations by road usually involves a 10 mile trip along Interstate 93, a major north-south traffic corridor in Eastern Massachusetts. During recent years, this small, quiet community of nearly 30,000 people has elicited increasing attention on the part of home seekers and investors.
The municipality does not encompass an extensive area. In fact, it covers only 4.8 square miles. It sits along the far eastern border of Middlesex County, adjoining Saugus and Essex County on its eastern edge. Its location places it directly north of Malden, and south of Greenwood and Wakefield. The growing community of Stoneham lies just northeast of this location.
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The city's western edge roughly parallels the Middlesex Fells Reservation, a lush natural area of hiking and biking trails surrounding most of Spot Pond. Pine Banks Park forms a portion of the community's southern border with Malden. The sprawling Mt. Hood Memorial Park and Mt. Hoot Memorial Golf Course provide recreational options in the far southeastern area. Bellvue Golf Course sits just a short distance north of this location. These green spaces contribute to the beauty of this locale.
The city's location offers numerous business services locally. Main Street extends south from Route 129 in Wakefield to completely bisect the community, jogging slightly to the southwest in the central part of town. It continues southwards through Malden into Everett. Lebanon Street splits off from Main Street in a central location and continues due south. Together, these two roads provide major north-south transportation corridors through the city, allowing residents to access a number of intersecting east-west roadways easily.
This network of roadways enables people residing here to reach additional employment, shopping, dining and entertainment opportunities within the Greater Boston Metropolitan Area conveniently. Bus, taxi and ridesharing transportation serves the region. Lynn Fells Parkway entirely traverses the northern part of the community in an east-west direction, offering ready access to U.S. Highway 1 in Saugus just a few miles to the east. A little further south, Upham Street connects the western half of the city to Highway 1 also.
Residents travel west along Wyoming Avenue from Main Street to use Interstate 93 on the far western side of Spot Pond. A nearby Amtrak station provides an additional transportation capability for commuters. It sits in Woburn, just 6 miles northeast of the community.
This mainly urban and suburban enclave enjoys a crime rate considerably below the national average. Both private and public schools serve this location. With five public elementary schools, a public middle school and a public high school, parents have the option of educating their youngsters locally.
Several renowned institutions of higher education maintain campuses within the Greater Boston Metropolitan Area, so residents of this community can also locate nearby educational venues for college age students and adult learners. Some prestigious universities situated within a short distance of this locale include Harvard University and the Massachusetts Institute of Technology in Cambridge, and Tufts University in Medford.
Melrose-Wakefield Hospital maintains a facility within the local community. A number of other hospitals in nearby cities also provide access to specialists and a range of health care services. Multiple senior care facilities operate within the immediate area. The well-developed medical infrastructure contributes to the quality of life enjoyed by residents.
The community encompasses extensive residential sections. Some districts here include the Downtown district, Mount Hood, Wyoming, Melrose Highlands, Cedar Park, the East Side, and Pine Banks. Most of these locations offer well-established neighborhoods built during previous eras; although exceptions occur, of course, homes typically sit on lots with mature landscaping.
Single Family Houses For Sale or Lease
Constructions has occurred in this historic community for decades. Today, detached single family houses predominate as the most popular form of housing (although some districts, particularly in the downtown area, now include multi-story buildings and apartment complexes). Prospective home buyers and renters discover numerous large, older multi-story wood frame and brick houses in this location. Many sit fairly close to the street, and, due to the terrain, in many locations homes frequently offer first level access via front steps.
Home shoppers can locate houses with (or without) garages. The type of construction here strongly resembles the prevailing style in Medford. Many stately homes feature underground or lower-level attached garages, attics, basements, and copious interior wood paneling. Since a majority of manmade structures date from earlier periods, dwellings often supply spacious square footage on multiple levels.
Prospective buyers can discover a variety of architectural styles, of course. Yet Victorian, split level and other multi-story designs appear most popular. Residential neighborhoods usually maintain relatively narrow streets, likely due to the age of the community.
Home seekers hoping to locate multifamily housing for investment purposes will find this marketplace very alluring. Some homeowners have created apartments in large older houses here. This quiet enclave maintains a choice location within the Greater Boston Metropolitan Area.
Some online sources placed the median home listing price here during early 2018 at around $612,000. Prospective home buyers will discover a range of list prices, including properties priced well below and well above that figure. In general, newer houses with a longer anticipated lifespan tend to command the highest sales prices in this marketplace on a per capita basis.
Houses capable of providing additional streams of revenue as income properties also frequently attract buyer interest. Investors hoping to convert older houses into multi-family apartment units should inquire carefully into local zoning and building code requirements and city planning regulations in advance of making purchasing decisions. Taking this step may help avoid disappointment later, since some locations may not authorize the creation of rental housing within existing houses.
Condos/Townhouses For Sale or Lease
The community enjoys a thriving condominium and townhome marketplace. Buyers seeking this type of property discover a variety of choices. In some cases, developers have purchased lots to constructed new residential communities. In others cases, they have converted existing commercial buildings or apartment complexes into condominiums.
This category of realty usually involves minimal maintenance responsibilities on the part of property owners. They typically pay monthly condo association fees to support exterior maintenance and grounds keeping (although some associations charge quarterly or yearly fees). Considerable variation occurs in the extent of condo management association services and charges.
Different residential communities offering condos may supply variable accommodations and amenities. For example, some communities located in multi-story buildings can offer penthouse suites. In other cases, the building design may preclude this option. Condo owners sometimes pay variable prices for their units, based upon considerations such as the extent of the square footage and the floor plan. The availability of in-demand amenities, such as extensive built-in features or especially appealing panoramic views, may also influence the listing price sought by a condo seller.
Although prospective purchasers sometimes find it tempting to search for residential condo or townhome communities in which condominium management associations charge low dues, they need to appreciate these expenditures sustain ongoing maintenance requirements. If a condo management association does not obtain sufficient support from the membership to keep shared community areas and facilities in good shape, the "curb appeal" of properties within the residential community may eventually suffer. To some extent, ample townhome and condo association fees may bring peace of mind to property owners.
Some residential communities maintain governing provisions which allow them to periodically change the level of dues paid by all of the members in order to keep pace with cost of living index changes. If you plan to search for a condo or townhome in this city, you'll want to pay close attention to condo management association policies and provisions. This location offers many selections in this category of property.
Apartments For Rent
People seeking rental apartments here find a variety of choices, too. Some developers have modified older houses to provide apartments accessed by separate exterior entrances. Home seekers also discover units for rent within established apartment buildings and apartment complexes.
The areas adjacent to Main Street, or within a few blocks of that central transportation corridor, include a large number of apartment buildings. Provisions for parking vary widely. Some apartments supply dedicated parking space for tenant vehicles, while others do not.
Prospective tenants can locate a variety of sizes of rental apartments in this city. While studio, one bedroom, and two bedroom units predominate, some larger units reach the marketplace from time to time. A wide array of floor plans provides choice options in this locale. In addition to rental apartments, prospective tenants discover condos, townhomes, and houses for rent here.
Just as condominium management associations sometimes vary in their policies, the management practices of landlords differ from one location to another. Some apartments furnish on-site managers. In other apartments, the management may establish guidelines for tenants to contact administrators remotely via the Internet or by telephone if maintenance issues arise.
Variability also exists with respect to security features. Sometimes tenants access their rental units from separate outside entrances. However, the city also includes a number of apartment complexes located within large buildings. Tenant leasing units in these locations may share the exterior entranceway, and access individual apartments from within interior parts of the building.
Many apartment complexes here include specific utilities within the rent. Tenants may find it helpful to inquire in advance to determine whether or not rental payments cover utilities, or whether obtaining these services will require separate, additional expenditures. In most cases, landlords will expect tenants to furnish a security deposit.
In some situations, apartment units include individual laundry facilities. In other cases, the landlord may not make any provision for laundry services. Some apartment buildings offer coin-operated laundry facilities on the premises for the convenience of tenants.
The considerable variety in rental apartments in this location makes the city an attractive destination for many people seeking this type of property. With readily accessible bus transportation in most locations, and relatively close proximity to downtown Boston, this quiet area offers many advantages. It supplies numerous realty options for prospective tenants.
Learn About This City With Our Help
Have you contemplated listing realty for sale or rent in this location? Or do you plan to search for residential property here in the near future? Boston City Properties offers services which may interest you.
Recently, some online sources have placed the mean property listing price in this city at $345 per square foot. The trulia.com website recently reported the median rental values of homes in the community as $2300 per month. These figures suggest prospective realty buyers and sellers have a lot at stake in this in-demand location when they venture into the marketplace.
We assist home sellers and landlords in this part of Massachusetts. Our firm focuses upon realty in communities lying within the Greater Boston Metropolitan Area. As specialists, we collect information about this area and its property trends. We understand the importance of establishing competitive market listing prices for residential properties. Consider requesting our help as you prepare to list your home for sale or lease. We'll offer insights into recent property sales statistics, and help you evaluate the marketability of your home.
We also often assist property seekers. Whether you plan to relocate soon, or you'd like to find a home as an investment property, we offer a knowledgeable resource. Share your preferences for your next residence with us. We maintain a keen interest in this location. If we discover listings meeting your requirements, we'll bring this information to your attention. Our efforts often help property seekers expedite their search for a home.
More Information
Boston City Properties looks forward to assisting you as you explore this dynamic city! To request our real estate services in Melrose, Massachusetts, simply call us at 617-247-1933. You can also reach our company by using the convenient website contact form.
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