Three neighboring cities, three kinds of access
Everett, Revere and Malden border each other just north of Boston. All three have plenty of 2- and 3-family houses and some larger apartment buildings.
- Everett: Suad's home base, between Chelsea, Malden and the Mystic River. Bus service and parking matter a lot here, so Suad checks both for each address.
- Malden: Malden Center station is served by the Orange Line and the Haverhill Line Commuter Rail.
- Revere: the Blue Line stops at Wonderland, Revere Beach, Beachmont and Suffolk Downs.
Rents depend on transit, parking, laundry and the layout of each unit, so every building gets its own look.
Cash flow, step by step
Cash flow is the money left over each month after all the bills are paid. Begin with the rents tenants pay today under their leases, then take out:
- Property taxes and insurance
- Water and sewer, plus any heat or common-area utilities the owner covers
- Repairs and reserves for big items such as the roof, boilers and porches
- Vacancy, even if it is only a few weeks a year
- Management fees, if someone else will run the building
The result is net operating income. Take the mortgage payment away from it and you have cash flow. A negative number means you pay out of pocket to hold the property. Some investors accept that in exchange for long-term growth. Just know the number before you commit.
How investors finance 2–4 units
- Conventional investor loans: Fannie Mae caps a 2–4 unit investment purchase at 75% loan-to-value, which means about 25% down.
- DSCR loans: the lender asks whether the rent covers the payment. Many look for a ratio of at least 1.25 and 20–25% down.
- Living in one unit: owner-occupied loans can need far less down. See our Everett multi-family page for those options.
Rates and guidelines move often, so get quotes from at least two lenders.
Lead paint and Massachusetts landlord rules
- Lead law: when a child under 6 lives in a unit built before 1978, the owner must delead or reach interim control, rentals included. Massachusetts offers a tax credit of up to $3,000 per unit plus other deleading assistance.
- Move-in charges: only first month, last month, a security deposit of up to one month's rent and the cost of a new lock. The deposit must sit in a separate, interest-bearing account at a Massachusetts bank. Read the state rules.
- Heat: from September 15 to June 15, keep units at 68°F or warmer from 7 a.m. to 11 p.m. and 64°F or warmer overnight.
- Rental broker fees: since August 1, 2025, the landlord pays any broker the landlord hires.
- Fair housing: you cannot turn away a tenant for using a housing voucher or because a child under 6 will live in the unit.
- Evictions: only a court can order one.
How Suad works with investors
Suad Kantarevic has 25+ years in Greater Boston real estate, with a focus on multi-family and income property. He helps you collect leases, test the expense numbers and compare financing, and he can send you new 2–4 unit listings in Everett, Revere and Malden the moment they come on the market. He works in English, Spanish (with Diana) or Bosnian.
Sources: Fannie Mae Eligibility Matrix (April 1, 2026) · New American Funding: How DSCR mortgages work · Joe Shimkus: 2026 Massachusetts property tax rates by town (Mass. DOR data) · The Advocate: Revere sets 2026 tax rates (Dec. 4, 2025) · Mass.gov: Financial assistance for deleading · Mass.gov: Lead law information for property owners · Mass.gov: Security deposits and last month's rent · Mass.gov: Guidance on heating season and minimum temperatures · Mass.gov: FAQ on residential rental broker's fees · Mass.gov: Overview of fair housing law · Mass.gov: Tenant's guide to eviction · Wikipedia: Malden Center station (Orange Line and Haverhill Line) · Wikipedia: Beachmont station (Revere Blue Line stations)
