Fully Renovated 2-Family
For Sale
$1,780,000
33 Farragut Ave, Medford, MA 02155
Two renovated duplex-style units with private entrances, updated systems, large yard, shed, ample parking, and basement storage.
Property Size3,411 SF
Price / SF$521.84
Days on Market78
Property Features for 33 Farragut Ave
General Information
Standard status
Active
Size
3,411 SF
Property subtype
2 Family - 2 Units Up/Down
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Year Renovated
2024
Listing Agency:
Doherty Properties
(978) 857-9580
Listed By:
Christian Doherty
(978) 857-9580
Source:
Lockandkeyre
Added: Jun 9
Changed: Jul 21
Last Checked: Aug 25 at 4:58AM
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 Doherty Properties
Investment Insights
Based on property information with market context.
This fully renovated 2-family property offers two duplex-style units. Unit 1 features 4 bedrooms and 2 full baths with an open-concept layout, highlighted by gray-blue cabinetry, granite countertops, stainless steel appliances, kitchen islands, hardwood floors, and abundant storage. Unit 2 provides a spacious duplex configuration with 4 bedrooms, 2 full baths, additional living space, and a top-level kitchenette. Both units have been upgraded with new flooring and lighting as well as refreshed interior elements.
Recent major improvements include siding and windows (2021), heating and A/C systems (2024), and hot water heaters (2024). The homes also include private entrances, a large yard for outdoor use, a shed, and basement storage, along with ample parking.
Located near Medford Square and Assembly Row, the property is also close to shopping, dining, entertainment, public transportation, and downtown Boston.
Recent major improvements include siding and windows (2021), heating and A/C systems (2024), and hot water heaters (2024). The homes also include private entrances, a large yard for outdoor use, a shed, and basement storage, along with ample parking.
Located near Medford Square and Assembly Row, the property is also close to shopping, dining, entertainment, public transportation, and downtown Boston.
Key Highlights
- Renovated 2‑family built in 1900 featuring two duplex‑style units with private entrances.
- Unit 1: duplex‑style 4 bedrooms and 2 full baths with hardwood floors, granite countertops, and stainless steel appliances.
- Unit 2: duplex‑style 4 bedrooms and 2 full baths with additional living space and a top‑level kitchenette.
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
$72,178
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
4.05%
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%
$1,443,560
$1.4M
Cap Rate 7%
$1,031,114
$1.0M
Cap Rate 9%
$801,978
$802.0K
Market Conditions
NOI Build-Up for 3,411 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
$108.5K $31.80/SF
− Vacancy
−$5.4K −$1.57/SF
EGI
$103.1K $30.23/SF
− OpEx
−$30.9K −$9.07/SF
NOI
$72.2K $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%
$1,443,560
Cap Rate 7%
$1,031,114
Cap Rate 9%
$801,978
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.2K – $1.20M
NOI $72,178 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$969.5K
$848.3K – $1.13M
NOI $67,867 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$2.02M
$1.77M – $2.36M
NOI $141,351 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
739
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 - Two renovated duplex-style units with private entrances, updated systems, large yard, shed, ample parking, and basement storage.
Where is this duplex located?
The property is located at 33 Farragut Ave Medford, MA.
What is the asking price?
The asking price for this property is $1,780,000.
What are key features of this property?
This property features: Renovated 2‑family built in 1900 featuring two duplex‑style units with private entrances.; Unit 1: duplex‑style 4 bedrooms and 2 full baths with hardwood floors, granite countertops, and stainless steel appliances.; Unit 2: duplex‑style 4 bedrooms and 2 full baths with additional living space and a top‑level kitchenette.
