Melrose Homes under $400,000

Welcome to Melrose, a charming city that beautifully blends small-town warmth with modern conveniences. Nestled in the heart of Massachusetts, Melrose is known for its picturesque neighborhoods, vibrant community spirit, and rich history. With tree-lined streets and well-preserved Victorian homes, this city offers a delightful backdrop for families, professionals, and retirees alike.

Melrose boasts a variety of local amenities, including quaint shops, delightful cafes, and parks that invite you to enjoy outdoor activities year-round. The city's commitment to education is evident in its highly-rated schools, making it an ideal place for families looking to settle down. Plus, with easy access to public transportation, you can effortlessly commute to Boston and beyond, making Melrose a prime location for those who work in the city but prefer a quieter, suburban lifestyle.

For homebuyers on a budget, Melrose presents an exciting opportunity with homes priced under $400,000. This market segment offers a diverse range of properties, from cozy single-family homes to charming townhouses, all designed to meet the needs of modern living. Many of these homes feature classic architectural details, spacious yards, and updated interiors, providing both comfort and style without breaking the bank.

Whether you’re a first-time homebuyer or looking to downsize, Melrose’s affordable housing options allow you to enjoy the best of suburban life while staying within your budget. Discover the charm of Melrose and find your dream home today!

Newest Melrose Homes under $400,000

$74,900

3 Beds ⋅ 1 Baths ⋅ 7149478 MLS

Calling all investors and contractors! Great winter project for the experienced and motivated remodeler. As-is property in the heart of Melrose, looking for a new owner. House has loads of potential. Cash offers only. 3 bedroom, 1 bath house with vinyl windows and vinyl siding on a quiet street with a concrete driveway and a quiet backyard with a shed. House also boasts a newer roof! This house has a great location close to downtown Melrose, along with an open canvas, main floor laundry, and room to add a garage on the property. Come see this house today before it's gone! Quick close possible!

210 1st Street SE, Melrose

Listing courtesy of MetroCrest Realty.

$315,000

5 Beds ⋅ 2 Baths ⋅ 7145658 MLS

A wooded .85-acre setting along the Sauk River gives this 5-bedroom rambler a sense of space both inside and out. Fresh paint and all new carpet create an updated feel throughout, while the large main-level living room is filled with natural light. The spacious kitchen offers plenty of room for cooking, gathering, and everyday use, with three bedrooms also located on the main level. Downstairs, the walk-out lower level adds two additional bedrooms, a dedicated office, and a massive storage room. Off the back of the home, a deck with stairs provides easy access to the private backyard, where mature trees create a well-established setting. The attached 2-car garage is heated and insulated for added year-round use. A brand-new water heater and a furnace installed in 2025 add two more notable updates.

34 5th Street NW, Melrose

Listing courtesy of Kris Lindahl Real Estate.

$380,000

5 Beds ⋅ 3 Baths ⋅ 7147598 MLS

Beautiful 5 Bedroom, 3 Bathroom Home Located On Quiet Cul-De-Sac In Desirable Neighborhood. This Wonderful Home Has Many Great Features Including; 3 Main Level Bedrooms With The Master Bedroom Having A Walk-In Closet And Private Bathroom With Tiled Walk-In Shower, Large Open Kitchen With Center Island, And Main Level Laundry. The Basement Includes; Large Open Family Room, Bar/Rec Area, Tons Of Storage, And Two Additional Large Bedrooms With Full Bathroom. Enjoy The Large Maintenance Free Deck That Overlooks The Meticulously Cared For Yard That Has In-Ground Sprinklers And An Additional Storage Shed. Only Blocks Away From Meadowlark Country Club. This Home Will Come With A Brand New Roof!

705 Eagle Drive SW, Melrose

Listing courtesy of Central MN Realty LLC.

$299,900

4 Beds ⋅ 2 Baths ⋅ 7144045 MLS

Here it is... open concept bi-level w/finished garage, .36 acre lot & modern colors & finishes; located in the sought-after neighborhood you've been waiting for! Popular layout: open kitchen/dining/living rooms, vaulted ceilings, gas/2-way fireplace, updated lighting, modern colors & spacious room sizes. Kitchen has SS appliances, center/eat-in island, tiled backsplash & deck access steps away. Down the hall is the primary bedroom, you'll appreciate the WIC & walk-through full bath (pocket door). The second bedroom located on the main level with/WIC. Appreciate the nice-sized foyer & convenient entry closet. Lower level has relaxing family & rec spaces; bedroom 3 & 4 both w/large closets & full bath featuring tiled shower & floors. You will love the exterior of this home; tons of curb appeal with the cozy front porch, shakes & updated landscaping. The finished, heated garage is a generous 24x26 size. Additional outdoor space in the 24x12 storage shed. 2024 roof! Located close to schools & parks... move to this desirable neighborhood.

722 4th Avenue NW, Melrose

Listing courtesy of Central MN Realty LLC.

$215,000

3 Beds ⋅ 1 Baths ⋅ 7142527 MLS

Enjoy easy one-level living in this charming 2+ bedroom, 1-bath home with 1,216 square feet on the main level. The home offers a comfortable layout with updated flooring and convenient main-floor laundry. The third bedroom is currently being used as a laundry room, creating an ideal setup for those looking for easy, stair-free living. The bathroom features a convenient walk-in shower offering accessibility and ease of use. A durable steel roof, installed in 2022, provides added peace of mind for years to come. The unfinished basement offers plenty of additional storage space and potential for a workshop, hobby area, or future finishing. A single attached garage provides convenient parking and storage. Located on a manageable .139-acre city lot in Melrose, this home offers comfortable living with low-maintenance outdoor space and convenient access to the community.

215 1st Avenue SE, Melrose

Listing courtesy of Counselor Realty Inc of Alex.

$289,900

4 Beds ⋅ 4 Baths ⋅ 7135273 MLS

Spacious home on over an acre with 3,000 finished square feet and large room sizes throughout. The kitchen includes granite countertops, new cabinet faces, newer appliances, and four pull-out drawers. The living room features a fireplace and three oversized windows overlooking the private backyard, and peaceful creek. The home offers all living facilities on one level , a private master suite, WIC, abundant natural light, and 3 bedrooms on one level. There is tons of storage, and the home is conveniently located right across from the school. New Water heater (2026).

543 5th Avenue NE, Melrose

Listing courtesy of Central MN Realty LLC.

$245,000

2 Beds ⋅ 1 Baths ⋅ 7121463 MLS

Say hello to views year round! Enjoy roughly 92 feet of frontage on the beautiful Black River! This 2-bedroom, 1-bath home in North Bend offers a wonderful opportunity for year-round living, a weekend retreat, or a recreational getaway. With opportunities to split upstairs into two more bedrooms or use it for a hang out area, this home has it! A four seasons room plus a large deck off the back. The basement offers additional potential, including an opportunity to add another bathroom. Relax by the water, enjoy fishing, or simply take in the peaceful river views. A great property for anyone who loves waterfront living and outdoor recreation! Plus you are only a short walk from local businesses!

N574 N Bend Drive, Melrose

Listing courtesy of RE/MAX Results.

$168,000

3 Beds ⋅ 2 Baths ⋅ 7113793 MLS

Charming home in the heart of Melrose! Enjoy a functional layout, comfortable living spaces, and a spacious yard. Conveniently located near schools, parks, shopping, restaurants, and I-94. A great opportunity for first-time buyers, those looking to downsize, or investors!

103 3rd Street SW, Melrose

Listing courtesy of Central MN Realty LLC.

$269,900

3 Beds ⋅ 3 Baths ⋅ 7112591 MLS

Affordable, well maintained twin home (no association); located in a popular neighbor... you will love this spacious layout! Home features a popular private primary suite w/walk-in closet, large bedroom & bath (walk-in shower, ceramic tile floors). Ideal main floor laundry w/storage! Kitchen has plenty of cabinet & counterspace, black SS appliances (2019) & open to the dining & living rooms. The dining room is a nice size for entertaining; steps away is a guest half bath. The living room features a 2-way gas fireplace, shared with the sunroom. Sunroom is the perfect spot to relax; vaulted ceilings, tons of natural light & access to back deck. Full, finished lower level offers tons of possibilities. There is a family room w/gas fireplace, rec room, 3/4 bathroom, & third bedroom (WIC). Outdoor features: oversized 2-stall garage (insulated), front porch, back deck, roof (2017). Whether you are starting out or downsizing, this home offers the updates & amenities you want at a great price!

703 2nd Avenue NE, Melrose

Listing courtesy of Central MN Realty LLC.

$115,000

3 Beds ⋅ 2 Baths ⋅ 7080042 MLS

Rose Park is a welcoming manufactured housing community located in the heart of Melrose, Minnesota — a charming small town known for its strong sense of community, excellent schools, and family-friendly atmosphere. Our neighborhood offers quiet streets, friendly neighbors, and an environment where families, retirees, and individuals can feel comfortable and connected. Residents enjoy the benefits of small-town living while still having convenient access to local shopping, dining, parks, healthcare, and recreation. Melrose is known for its highly regarded school system, safe neighborhoods, and active community events throughout the year. Whether you're raising a family, downsizing, or simply looking for a peaceful place to call home, Rose Park offers affordable living in a community where people truly care about one another. At Rose Park, residents enjoy: A peaceful and well-maintained neighborhood Affordable homeownership opportunities Spacious lots and community feel Convenient access to schools, parks, and local businesses A safe, quiet environment ideal for families and retirees Friendly management focused on long-term community growth Rose Park combines the value of manufactured home living with the warmth and stability of a traditional neighborhood — making it a wonderful place to call home. Financing considerations - Mortgage contacts available

100 Rose Park, Melrose

Listing courtesy of Central MN Realty LLC.

$115,000

3 Beds ⋅ 2 Baths ⋅ 7080044 MLS

76 Rose Park, Melrose

Listing courtesy of Central MN Realty LLC.

Start Your Search

The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the Regional Multiple Listing Service of Minnesota. Real estate listings held by brokerage firms other this firm are marked with the Broker Reciprocity logo. Information Deemed Reliable But Not Guaranteed. Property locations as displayed on any map are best approximations only and exact locations should be independently verified.

Listing data © 2026 Regional Multiple Listing Service of Minnesota. All rights reserved. By searching, you agree to the EULA.