Two-Family Residential
For Sale
$1,050,000
Pending
66 Almont St, Medford, MA 02155
Two-bedroom units include hardwood floors, built-ins, newer appliances, and a partially finished walk-up attic.
Property Size2,264 SF
Days on Market27
Property Features for 66 Almont St
General Information
Standard status
Pending
Size
2,264 SF
Total Parking Spaces
2
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,240
Building Details
Building Size
2,264 SF
Year Built
1920
Stories
3
Units
2
Listing Agency:
(617) 256-5502
Listed By:
Renee Murray-Chakalos
(617) 256-5502
Source:
Elliman
Added: Jul 25
Changed: Aug 15
Last Checked: Aug 20 at 10:25AM
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 Renee Murray-Chakalos
Investment Insights
Based on property information with market context.
This two-family residential property offers two bedrooms in each unit, with hardwood floors, custom built-ins, and generously sized kitchens featuring newer appliances. A partially finished walk-up attic provides flexible bonus space, and the large basement offers additional storage.
The home includes newer gas heating systems and hot water tanks. Exterior amenities include front and rear porches and a landscaped yard. Parking is supported by a rare oversized two-car garage.
With one unit listed as vacant, the property presents an opportunity for immediate occupancy or income while maintaining the option for an owner-occupant arrangement. Convenient access is provided via the Fellsway, with proximity to I-93, shopping, restaurants, and public transportation.
The home includes newer gas heating systems and hot water tanks. Exterior amenities include front and rear porches and a landscaped yard. Parking is supported by a rare oversized two-car garage.
With one unit listed as vacant, the property presents an opportunity for immediate occupancy or income while maintaining the option for an owner-occupant arrangement. Convenient access is provided via the Fellsway, with proximity to I-93, shopping, restaurants, and public transportation.
Key Highlights
- Two‑family home built in 1920, offering two 2‑bedroom units plus flexible bonus space in a partially finished walk‑up attic
- Each unit features hardwood floors, custom built‑ins, and generously sized kitchens with newer appliances
- Newer gas heating systems and newer hot water tanks
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
$47,907
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
4.56%
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%
$958,140
$958.1K
Cap Rate 7%
$684,386
$684.4K
Cap Rate 9%
$532,300
$532.3K
Market Conditions
NOI Build-Up for 2,264 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
$72.0K $31.80/SF
− Vacancy
−$3.6K −$1.57/SF
EGI
$68.4K $30.23/SF
− OpEx
−$20.5K −$9.07/SF
NOI
$47.9K $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%
$958,140
Cap Rate 7%
$684,386
Cap Rate 9%
$532,300
Alternative Uses
Best Use
Multifamily LT 5
$684.4K
$598.8K – $798.5K
NOI $47,907 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$643.5K
$563.1K – $750.8K
NOI $45,046 @ 7.0% cap · market cap 4.29%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,820 @ 7.0% cap · market cap 8.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
963
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-bedroom units include hardwood floors, built-ins, newer appliances, and a partially finished walk-up attic.
Where is this duplex located?
The property is located at 66 Almont St Medford, MA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two‑family home built in 1920, offering two 2‑bedroom units plus flexible bonus space in a partially finished walk‑up attic; Each unit features hardwood floors, custom built‑ins, and generously sized kitchens with newer appliances; Newer gas heating systems and newer hot water tanks
