Two-Family Corner Home with
31 Lewis St Medford, MA 02155
For Sale
$899,900
Well-maintained two-family home on a corner lot with sunrooms, rear deck, and a two-car detached garage.
Property Size2,054 SF
Price / SF$438.12
Days on Market11
Property Features for 31 Lewis St
General Information
- Standard status
- Active
- Size
- 2,054 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1925
Listing Agency:
Lock and Key Realty
(617) 831-1099
Listed By:
Fleet Homes Group
(617) 831-1099
Source:
Lockandkeyre
Added: Jul 16
Changed: Jul 24
Last Checked: Jul 24 at 12:54PM
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 Lock and Key Realty
Investment Insights
Based on property information with market context.
This two-family corner home offers two separate units, each with two bedrooms and a layout that may allow for additional bedroom configurations. Both units include 1 bathroom, a full dining room or office area, and a pantry/laundry room, along with high ceilings, a sunroom, and a rear deck.
The downstairs apartment’s bathroom and kitchen were updated a few years ago, and the hardwood floors have been refinished. The property also features a spacious yard and a two-car detached garage with potential for additional use.
The home is positioned for convenient commuting with access to Boston via nearby major routes and transit, and it is close to Medford Square, Hickey Park, restaurants, cafes, and shopping.
The downstairs apartment’s bathroom and kitchen were updated a few years ago, and the hardwood floors have been refinished. The property also features a spacious yard and a two-car detached garage with potential for additional use.
The home is positioned for convenient commuting with access to Boston via nearby major routes and transit, and it is close to Medford Square, Hickey Park, restaurants, cafes, and shopping.
Key Highlights
- Well‑maintained two‑family home on a corner lot with 2 sunrooms, rear deck, and spacious yard
- Year built 1925; each unit has 2 bedrooms with potential to convert to 3 beds, plus 1 bath
- Downstairs unit has updated bathroom and kitchen (updated a few years ago) and refinished hardwood floors
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.3k | $31.80 |
| − Vacancy | −$3.2k | −$1.57 |
| EGI | $62.1k | $30.23 |
| − OpEx | −$18.6k | −$9.07 |
| NOI | $43.5k | $21.16 |
2,054 SF · lease $31.80/SF/yr · vacancy 4.94% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$620.9K
$543.3K – $724.4K
NOI $43,463 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$583.8K
$510.9K – $681.1K
NOI $40,868 @ 7.0% cap · market cap 4.54%
Theoretical Best
Office A
$1.22M
$1.06M – $1.42M
NOI $85,117 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family home on a corner lot with sunrooms, rear deck, and a two-car detached garage.
Where is this duplex located?
The property is located at 31 Lewis St Medford, MA.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Well‑maintained two‑family home on a corner lot with 2 sunrooms, rear deck, and spacious yard; Year built 1925; each unit has 2 bedrooms with potential to convert to 3 beds, plus 1 bath; Downstairs unit has updated bathroom and kitchen (updated a few years ago) and refinished hardwood floors
