Two-Family Residential Income
For Sale
$1,179,000
23 Bowdoin St, Medford, MA 02155
Two-family offers 5–6 bedrooms per unit, off-street parking, porches, and separate basement entrances.
Property Size2,562 SF
Price / SF$460.19
Days on Market192
Property Features for 23 Bowdoin St
General Information
Standard status
Active
Size
2,562 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
R2
Additional Details
Multifamily Units
2
Amenities
No
1
Building Details
Building Size
2,562 SF
Year Built
1900
Stories
2
Tenancy
Multi
Listing Agency:
Bostonia Properties
Listed By:
Kate Duggan · License #144768
(617) 418-9882
Source:
Reishomesearch
Added: Mar 28
Changed: Sep 22
Last Checked: Sep 20 at 8:14AM
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 Bostonia Properties
Investment Insights
Based on property information with market context.
This two-family residential income property features beautiful hardwood floors and flexible bedroom configurations described as 5–6 bedrooms. Each unit includes a pantry off the kitchen and a separate entrance to the basement, supporting independent day-to-day use. The second-floor apartment has front and back porches.
The property provides off-street parking. The roof is approximately five years old, and the flat rubber portion over the porches was replaced this year.
Both units use oil heat and gas cooking. Public transit access is described as walkable to the Tufts University Green Line Station and the 101 bus line.
The property provides off-street parking. The roof is approximately five years old, and the flat rubber portion over the porches was replaced this year.
Both units use oil heat and gas cooking. Public transit access is described as walkable to the Tufts University Green Line Station and the 101 bus line.
Key Highlights
- Two‑family home built in 1900 with 5–6 bedrooms per unit
- Off‑street parking and separate entrances to the basement for each unit
- Second‑floor apartment includes front and back porches
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,213
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,084,260
$1.1M
Cap Rate 7%
$774,471
$774.5K
Cap Rate 9%
$602,367
$602.4K
Market Conditions
NOI Build-Up for 2,562 SF
Gross rent
$81.5K $31.80/SF
− Vacancy
−$4.0K −$1.57/SF
EGI
$77.4K $30.23/SF
− OpEx
−$23.2K −$9.07/SF
NOI
$54.2K $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%
$1,084,260
Cap Rate 7%
$774,471
Cap Rate 9%
$602,367
Alternative Uses
Best Use
Multifamily LT 5
$774.5K
$677.7K – $903.6K
NOI $54,213 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$728.2K
$637.2K – $849.6K
NOI $50,975 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,169 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,303
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family offers 5–6 bedrooms per unit, off-street parking, porches, and separate basement entrances.
Where is this duplex located?
The property is located at 23 Bowdoin St Medford, MA.
What is the asking price?
The asking price for this property is $1,179,000.
What are key features of this property?
This property features: Two‑family home built in 1900 with 5–6 bedrooms per unit; Off‑street parking and separate entrances to the basement for each unit; Second‑floor apartment includes front and back porches
