
721 Franklin Street Melrose — Photo 1 of 33
$1,199,000
Melrose, MA 02176 — Melrose Highlands
Beds
8
Baths
3.5
SqFt
4,006
Style
Single Family
Built
1920
We are delighted to offer a unique opportunity in the Melrose Highlands. One of Melrose's finest grand turn of the century homes is now available for the home owner to lovingly restore or the house flipper to flip or a developer to search possibilities. It needs extensive work outside but it is in reasonably good condition inside with most of the original fine features still intact. We have a 4000 square foot single family 8 bedroom home plus a 20 x 20 carriage house with a cement floor that can be used as a two car garage that has a second floor with separate entrance that has possibilities to be an ADU. This home was built as a single but functioned as a two family at one time but now is back to a single.
* Analysis is based on 24 actively listed and recently sold comparable properties strictly within Melrose, MA.
Gas Water Heater
Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Golf
13 x 16
Flooring - Hardwood, Crown Molding, Pocket Door
16 x 12
Closet/Cabinets - Custom Built, Flooring - Hardwood, Wainscoting, Crown Molding, Pocket Door
25 x 12
Flooring - Hardwood, Flooring - Stone/Ceramic Tile, Dining Area, Countertops - Stone/Granite/Solid, Cabinets - Upgraded
14 x 16
Closet/Cabinets - Custom Built, Flooring - Hardwood, Wainscoting, Crown Molding, Window Seat
17 x 14
Closet, Flooring - Hardwood
16 x 12
13 x 12
Closet, Flooring - Hardwood
12 x 12
Closet, Flooring - Hardwood
14 x 9
Fireplace, Flooring - Hardwood
5 x 12
Bathroom - Half
8 x 8
Bathroom - Full, Bathroom - With Tub
8 x 8
Bathroom - Full, Bathroom - Tiled With Tub & Shower
29,650
U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)
$134K
U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)
32.8%
U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)
2,667 housing units permitted in the last 12 months (-2% vs the prior 12 months) — 1,709 in 5+ unit buildings
U.S. Census Bureau, Building Permits Survey (through Jun '26)
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: 900 sq ft (the lesser of 900 sq ft or half the 4,006 sq ft principal dwelling). Lot size: 22,431 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.
Listing Agent: Paul C. Coogan
Listing Office: Brad Hutchinson Real Estate
MLS® Number: 73532589
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