Two-Unit Duplex with Separate
For Sale
$920,000
123 Willis Ave, Medford, MA 02155
Both units can be delivered vacant.
Property Size1,948 SF
Days on Market102
Property Features for 123 Willis Ave
General Information
Standard status
Active
Size
1,948 SF
Total Parking Spaces
4
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,508
Building Details
Building Size
1,948 SF
Year Built
1910
Buildings
1
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
William Montero · License #449001133
(617) 312-7232
Source:
Classifiedrealtygroup
Added: Jul 7
Changed: Oct 9
Last Checked: Oct 16 at 6:11AM
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 Gibson Sotheby's International Realty
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Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,948 square feet across a building constructed in 1910. Each residence has its own separate systems, providing distinct operational separation between the units. Both floors can be delivered vacant, offering flexibility for the next ownership plan.
The property is located at 123 Willis Ave in Medford, Massachusetts, within ZIP code 02155. Its two-family configuration and separately supported units provide a straightforward physical layout for evaluating the asset as a residential income property.
The property is located at 123 Willis Ave in Medford, Massachusetts, within ZIP code 02155. Its two-family configuration and separately supported units provide a straightforward physical layout for evaluating the asset as a residential income property.
Key Highlights
- Two‑unit duplex configuration
- 1,948 square feet
- Separate systems for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,220
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$824,400
$824.4K
Cap Rate 7%
$588,857
$588.9K
Cap Rate 9%
$458,000
$458.0K
Market Conditions
NOI Build-Up for 1,948 SF
Gross rent
$61.9K $31.80/SF
− Vacancy
−$3.1K −$1.57/SF
EGI
$58.9K $30.23/SF
− OpEx
−$17.7K −$9.07/SF
NOI
$41.2K $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 Rate 5%
$824,400
Cap Rate 7%
$588,857
Cap Rate 9%
$458,000
Alternative Uses
Best Use
Multifamily LT 5
$588.9K
$515.3K – $687.0K
NOI $41,220 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$553.7K
$484.5K – $646.0K
NOI $38,759 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,725 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,188
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both units can be delivered vacant.
Where is this duplex located?
The property is located at 123 Willis Ave Medford, MA.
What is the asking price?
The asking price for this property is $920,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 1,948 square feet; Separate systems for each unit
