Riverfront Two-Family
New
For Sale
$1,499,900
118 Auburn St, Medford, MA 02155
Renovated duplex with two townhouse-style residences, private outdoor space, and direct Mystic River access.
Property Size4,500 SF
Days on Market6
Property Features for 118 Auburn St
General Information
Standard status
Active
Size
4,500 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$12,483
Building Details
Building Size
4,500 SF
Year Built
1920
Stories
5
Units
2
Listing Agency:
Mass Realty Properties
(617) 877-5706
Listed By:
Andy Mass · License #9534547
(617) 877-5706
Source:
Elliman
Added: Aug 15
Changed: Aug 19
Last Checked: Aug 19 at 9:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mass Realty Properties
Investment Insights
Based on property information with market context.
This duplex contains two townhouse-style residences totaling 10 bedrooms, 5 bathrooms, and more than 4,500 square feet across four levels. Renovated in 2015, the property includes updated kitchens and bathrooms, central AC, high-efficiency gas heat, in-unit laundry, newer windows and doors, updated electrical and plumbing, and a newer roof. One residence spans three levels with five bedrooms, three full bathrooms, a primary suite, lower-level family room, and river-facing deck. The second offers five bedrooms, two full bathrooms, open living and dining areas, a home-office or fifth-bedroom option, and an additional upper-level bedroom wing.
Set directly along the Mystic River, the property provides water views and backyard access for kayaking or paddling toward Boston Harbor. The Greenway supports nearby walking and biking, while Whole Foods and Starbucks are steps away. Somerville, Cambridge, Boston, Route 16, and I-93 are within the surrounding access network. Walk Score is 80, Bike Score is 79, and Transit Score is 47.
Set directly along the Mystic River, the property provides water views and backyard access for kayaking or paddling toward Boston Harbor. The Greenway supports nearby walking and biking, while Whole Foods and Starbucks are steps away. Somerville, Cambridge, Boston, Route 16, and I-93 are within the surrounding access network. Walk Score is 80, Bike Score is 79, and Transit Score is 47.
Key Highlights
- Two‑unit duplex with 10 bedrooms, 5 bathrooms, and 4,500+ SQ FT
- Direct Mystic River frontage with backyard kayaking access and year‑round water views
- Extensively renovated in 2015 with updated electrical, plumbing, windows, doors, and roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$95,222
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,904,440
$1.9M
Cap Rate 7%
$1,360,314
$1.4M
Cap Rate 9%
$1,058,022
$1.1M
Market Conditions
NOI Build-Up for 4,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$143.1K $31.80/SF
− Vacancy
−$7.1K −$1.57/SF
EGI
$136.0K $30.23/SF
− OpEx
−$40.8K −$9.07/SF
NOI
$95.2K $21.16/SF
Area
Middlesex County, MA
Vacancy
4.94%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,904,440
Cap Rate 7%
$1,360,314
Cap Rate 9%
$1,058,022
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,222 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$1.28M
$1.12M – $1.49M
NOI $89,535 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$2.66M
$2.33M – $3.11M
NOI $186,479 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
877
Businesses Nearby
Explore this area
Business Placement
Demographics for 02155, MA
61,483
Population
25,893
Households
2.4
Avg Household Size
36
Median Age
58%
College-Educated
93%
High-School Grad
8.2 sq mi
ZIP Area
7,498
Density / Sq Mi
$118,403
Median Household Income
$60,825
Median Earnings
$2,483
Median Rent
$715,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex with two townhouse-style residences, private outdoor space, and direct Mystic River access.
Where is this duplex located?
The property is located at 118 Auburn St Medford, MA.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Two‑unit duplex with 10 bedrooms, 5 bathrooms, and 4,500+ SQ FT; Direct Mystic River frontage with backyard kayaking access and year‑round water views; Extensively renovated in 2015 with updated electrical, plumbing, windows, doors, and roof
