Two-Family Home With Off-Street
For Sale
$1,200,000
204 Harvard, Medford, MA 02155
Residential Income, Medford, MA
Property Size2,068 SF
Lot Size0.19 Acres
Price / SF$580.27
Days on Market92
Property Features for 204 Harvard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RES
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking
10
Directions
Please use GPS
Standard status
Active
APN
M:V09 B:0025,644742
Size
2,068 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
7009
Amenities
deck
covered balcony
Building Details
Year built
1900
Floors in Building
3
Number of units
2
Listing Agency:
Keller Williams Realty
(978) 475-2111
Listed By:
Susan Rochwarg
(978) 475-2111
Added: May 27
Changed: Aug 19
Last Checked: Aug 26 at 9:06PM
MLS# 73524747
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-family home in Medford offers flexible living and income potential, with a layout that includes two full bathrooms in the first unit and two bedrooms plus a full bath in the second unit. The first unit extends across two levels and includes a bonus room being used as a bedroom in the finished basement, along with a remodeled kitchen that opens to a newly renovated deck. The second unit features a remodeled covered balcony.
Built in 1900, the property includes off-street parking for up to 10 cars, providing convenient day-to-day access. It sits on a 0.194-acre lot and totals 2,068 square feet.
With its two-unit configuration and covered outdoor space at both units, the home supports a range of occupancy options for owners seeking a classic two-family setup and dedicated off-street parking.
Built in 1900, the property includes off-street parking for up to 10 cars, providing convenient day-to-day access. It sits on a 0.194-acre lot and totals 2,068 square feet.
With its two-unit configuration and covered outdoor space at both units, the home supports a range of occupancy options for owners seeking a classic two-family setup and dedicated off-street parking.
Key Highlights
- Two‑family home configuration in Medford
- First unit spans two levels with remodeled kitchen and newly renovated deck
- Finished basement includes a bonus room being used as a bedroom
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
$43,760
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
3.65%
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%
$875,200
$875.2K
Cap Rate 7%
$625,143
$625.1K
Cap Rate 9%
$486,222
$486.2K
Market Conditions
NOI Build-Up for 2,068 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
$65.8K $31.80/SF
− Vacancy
−$3.2K −$1.57/SF
EGI
$62.5K $30.23/SF
− OpEx
−$18.8K −$9.07/SF
NOI
$43.8K $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%
$875,200
Cap Rate 7%
$625,143
Cap Rate 9%
$486,222
Alternative Uses
Best Use
Multifamily LT 5
$625.1K
$547.0K – $729.3K
NOI $43,760 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$587.8K
$514.3K – $685.8K
NOI $41,146 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$1.22M
$1.07M – $1.43M
NOI $85,697 @ 7.0% cap · market cap 7.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,542
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-family residence with off-street parking for up to 10 cars and remodeled unit interiors in Medford, MA.
Where is this duplex located?
The property is located at 204 Harvard Medford, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two‑family home configuration in Medford; First unit spans two levels with remodeled kitchen and newly renovated deck; Finished basement includes a bonus room being used as a bedroom
