Updated 2-Unit
For Sale
$1,425,000
15 Monument Street, Medford, MA 02155
Renovated two-family property with private outdoor space, in-unit laundry, central air, and off-street parking.
Property Size3,250 SF
Price / SF$438.46
Days on Market77
Property Features for 15 Monument Street
General Information
Standard status
Active
Size
3,250 SF
Property subtype
2 Family - 2 Units Up/Down
Building Details
Year Built
1910
Listing Agency:
Compass
(617) 930-1288
Listed By:
MonaLisa Team
(617) 930-1288
Source:
Lockandkeyre
Added: Jun 15
Changed: Aug 29
Last Checked: Aug 29 at 8:41PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1910, this 3,250-square-foot duplex at 15 Monument Street contains two renovated apartments with bright living areas, hardwood floors, high ceilings, updated kitchens and baths, and generously sized bedrooms. Each residence offers 3 bedrooms, 2 baths, central air, in-unit laundry, and a private deck. The property also includes off-street parking and a grassy backyard.
The home is located in West Medford near West Medford station, Whole Foods Market, the Mystic River walking path, and commuter routes into Boston. Its two-apartment configuration and matching unit layouts provide flexibility for multi-generational occupancy, owner use with rental income, or continued operation as a residential income property.
The home is located in West Medford near West Medford station, Whole Foods Market, the Mystic River walking path, and commuter routes into Boston. Its two-apartment configuration and matching unit layouts provide flexibility for multi-generational occupancy, owner use with rental income, or continued operation as a residential income property.
Key Highlights
- Two apartments, each with 3 bedrooms and 2 baths
- 3,250 square feet on a 1910‑built property
- Central air and in‑unit laundry in both residences
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
$68,771
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
4.83%
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%
$1,375,420
$1.4M
Cap Rate 7%
$982,443
$982.4K
Cap Rate 9%
$764,122
$764.1K
Market Conditions
NOI Build-Up for 3,250 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
$103.4K $31.80/SF
− Vacancy
−$5.1K −$1.57/SF
EGI
$98.2K $30.23/SF
− OpEx
−$29.5K −$9.07/SF
NOI
$68.8K $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%
$1,375,420
Cap Rate 7%
$982,443
Cap Rate 9%
$764,122
Alternative Uses
Best Use
Multifamily LT 5
$982.4K
$859.6K – $1.15M
NOI $68,771 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$923.8K
$808.3K – $1.08M
NOI $64,664 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.92M
$1.68M – $2.24M
NOI $134,679 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
641
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 two-family property with private outdoor space, in-unit laundry, central air, and off-street parking.
Where is this duplex located?
The property is located at 15 Monument Street Medford, MA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Two apartments, each with 3 bedrooms and 2 baths; 3,250 square feet on a 1910‑built property; Central air and in‑unit laundry in both residences
