Three cities, three kinds of access
Everett, Revere and Malden sit just north of Boston. Each has many 2- and 3-family homes, plus some larger buildings.
- Malden: Malden Center station has the Orange Line and the Haverhill Line Commuter Rail.
- Revere: four Blue Line stations: Wonderland, Revere Beach, Beachmont and Suffolk Downs.
- Everett: right next to Chelsea and Malden. Ask Luis about bus and station options for any address.
Transit, parking, laundry and unit layout all affect what a unit can rent for. We look at each property on its own.
Cash flow basics
Cash flow is what is left each month after every bill is paid. Start with the real rents in the current leases. Then subtract:
- Property taxes and insurance
- Water and sewer, and any heat or common utilities you pay
- Repairs and future big items: roof, boilers, porches
- Vacancy, even if only a few weeks a year
- Management, if you will not manage it yourself
What is left is your net operating income. Subtract the mortgage payment to get cash flow. If the number is negative, you are paying to own the building. Some investors accept that for future growth. Know it before you sign.
Financing a 2–4 unit investment
- Investor conventional loans: Fannie Mae allows up to 75% loan-to-value on a 2–4 unit investment purchase, so plan on 25% down.
- DSCR loans: these lenders look at whether the rent covers the payment. Many want a ratio of 1.25 or higher and 20–25% down.
- House hacking: if you live in one unit, owner-occupied loans can need much less down. See our Chelsea multi-family page for those options.
Rates and rules change, so compare at least two lenders.
Massachusetts landlord rules and lead paint
- Lead law: if a child under 6 lives in a pre-1978 unit, the owner must delead or reach interim control. This applies to rentals too. The state offers a tax credit of up to $3,000 per unit and other deleading help.
- Move-in money: you may collect only first month, last month, a security deposit up to one month's rent, and the cost of a new lock. Deposits go in a separate, interest-bearing Massachusetts bank account. See the state rules.
- Heat: from September 15 to June 15, units must be at least 68°F from 7 a.m. to 11 p.m. and 64°F at night.
- Broker fees: since August 1, 2025, a landlord who hires a broker pays that broker.
- Fair housing: you may not refuse a tenant because of a housing voucher or because a child under 6 will live there.
- Evictions: only a court can evict.
How Luis helps investors
Luis Tejada has worked in Greater Boston real estate since 1994 and was a mortgage broker. He helps you pull leases, check expenses, and compare loan options. He works in English and Spanish, and he can send you new 2–4 unit listings in all three cities as soon as they hit the market.
Sources: Fannie Mae Eligibility Matrix (April 1, 2026) · New American Funding: How DSCR mortgages work · 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)
