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594 Franklin Street # 7, Melrose MA 02176

Melrose, MA 02176
$234,000
Est. $1,905/month
1
Beds
1
Baths
574
Sq Ft
$408
Price/Sq Ft
1970
Year Built
18
Days on Market
Closed Listed Feb 5, 2025 • MLS# 73332406 Copied!

About this home

Why rent when you can own this charming 1-bedroom, 1-bathroom condo in the heart of Melrose Highlands? Just minutes from the Melrose Highlands Commuter Rail and bus 131 to Oak Grove, this cozy home features an eat-in kitchen with large windows offering natural light and scenic views, a bedroom with a double-wide closet, and a full bathroom with a tiled shower. Deeded parking, on-site laundry, and a bike rack add to its appeal for first-time buyers or investors. Though dated inside, it offers great potential for renovation. Conveniently located near highway access, Whole Foods, parks, shopping, and schools, this condo is an excellent opportunity to own in a fantastic neighborhood.

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
1970
Bedrooms
1
Full Bathrooms
1
Living Area
574 sq ft
Total Rooms
4
Stories
1
Entry Level
2

Sale Statistics

Sale Overview
Original List Price: $249,900
Final Sale Price: $234,000
Difference: $15,900 (-6.4%)
Performance Metrics
93.6%
List to Sale Ratio
Sold below asking price
18
Days on Market
Quick sale
Price per Square Foot Analysis
Original $/sq ft: $435
Sale $/sq ft: $408
This property sold for $408 per square foot
Sale Summary

This property sold for 6.4% below the original asking price.

With only 18 days on market, this was a quick sale compared to typical market conditions.

Nearby Sales Comparison

Based on 2 similar properties sold within 0.5 miles in the last 90 days

This Property
$408/sq ft
Area Average
$213/sq ft
Difference
+91.8%

This property sold for significantly more per square foot than similar nearby properties, suggesting premium features or condition.

Facts & Features

Home Facts

Type Residential
Style Condominium
Year Built 1970
Living Area 574 sq ft
Bedrooms 1
Full Baths 1
Total Rooms 4

Interior

Heating Electric Baseboard, Electric
Cooling Wall Unit(s)
Flooring Tile, Carpet, Laminate
Appliances Range, Disposal, Microwave, Refrigerator
Fireplace None
Basement N
Laundry None
Features None

Exterior

Construction Frame
Architecture None
Roof None
Features Screens
Pool None
Spa None
Fencing None
Patio/Porch None

Parking

Features Off Street
Total Spaces 1

Utilities

Electric None
Water Public
Sewer Public Sewer
Gas None
Other For Electric Range

Financial

Annual Tax $2,362
Assessed Value $237,900

Interior Features

Flooring: Tile, Carpet, Laminate
Appliances: Range, Disposal, Microwave, Refrigerator
Interior Features:
Windows: Insulated Windows, Screens
Basement: N
Laundry:
Security: Intercom

Construction & Materials

Year Built: 1970
Structure Type: Garden
Exterior Materials: Frame
Roof:
Foundation:
Stories: 1

Heating, Cooling & Utilities

Heating: Electric Baseboard, Electric
Heating Zones: 3
Cooling: Wall Unit(s)
Hot Water:
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

Exterior Features: Screens
Patio & Porch:
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Total Parking Spaces: 1
Parking Features: Off Street

Location

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Neighborhood

594 Franklin Street # 7, Melrose MA 02176

Melrose, MA 02176

Walkability

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Nearby Schools

School District
Melrose School District local
A
School Safety 2024-25
0.6% Low
0.4% Suspensions 0.4% In-School 0.2% Emergency
4.9% below state avg
E

Elementary Schools

7 schools
St. Mary Elementary School
1.1 mi
Grades PK-08
A
Roosevelt School
0.2 mi | #124 of 824 | Score: 57.9
Improved 100 spots from last year
-0.4 below state avg
406 students Moderate
Rising School Strong Attendance
Grades K-05
Early Childhood Center
0.4 mi
246 students Moderate
Grades PK-K
A+
Horace Mann School
0.7 mi | #79 of 824 | Score: 60.5
Dropped 73 spots from last year
+2.3 above state avg
254 students Less Diverse
Strong Attendance
Grades K-05
A
Lincoln School
1.1 mi | #130 of 824 | Score: 57.6
Improved 194 spots from last year
-0.6 below state avg
404 students Diverse
Rising School
Grades K-05
A
Winthrop School
1.2 mi | #89 of 824 | Score: 59.8
Improved 1 spots from last year
+1.6 above state avg
392 students Less Diverse
Strong Attendance
Grades K-05
A-
Herbert Clark Hoover School
1.7 mi | #218 of 824 | Score: 54.0
Dropped 88 spots from last year
-4.2 below state avg
260 students Moderate
Grades K-05
M

Middle Schools

1 school
A-
Melrose Middle School
0.3 mi | #92 of 352 | Score: 50.4
Improved 6 spots from last year
-7.8 below state avg
886 students Moderate
Grades 06-08
Learn about these ratings

Monthly Payment Calculator

Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%

Monthly Payment Breakdown

Principal & Interest $0
Property Tax $197
Homeowners Insurance $200
HOA Fee $325/mo
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo

Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Property History

Market Insights

6.4%
Price Range
21
Total Days on Market

Property Timeline

Sold
Mar 28, 2025
$234,000
Property sold
Days on Market: 21
🏠
Listed for Sale
Feb 5, 2025
$249,900
Original listing
Agent: Mary Keenan Office: Heartland Property Real Estate

Price & Status History

Date Event Price Change
Feb 5, 2025 New Listing Added $249,900

Market Statistics

Days on Market
18 days
Price per Sq Ft
$408

Tax History

Year Taxes Assessment
2024 $2,362 $237,900

Financial Details

Annual Property Tax
$2,362
Tax Year 2024
HOA Fee
$325
Monthly
Assessed Value
$237,900

Listing Information

Agent MLS ID CN246039
Office MLS ID AN8517
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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Market Analytics for Melrose, MA

Real-time market trends and pricing data for this area

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