Classic Two-Family in West
For Sale
$995,000
Pending
40 Century St, Medford, MA 02155
Two-family home with income potential in a prime location.
Property Size2,436 SF
Lot Size0.12 Acres
Days on Market268
Property Features for 40 Century St
General Information
Standard status
Pending
Size
2,436 SF
Lot size
0.12 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$7,536
Building Details
Building Size
2,436 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
Gibson Sotheby's International Realty
(617) 922-4183
Listed By:
Anne Marie Kelly
(617) 922-4183
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 22 at 8:52AM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
This classic two-family property in West Medford presents an opportunity for investors, multi-generational buyers, or end users. Each unit features two bedrooms, a full bath, a large kitchen, open living and dining rooms, plus an office/sunroom. The second-floor unit includes a generous foyer. The property has wood siding, porches, and a yard suitable for play space or a vegetable garden. Updates include a newer roof, decks, and an oil tank for unit 1. A sizable driveway provides off-street parking. The property is located in a neighborhood near the commuter rail, Fells Reservation, schools, and other amenities in West Medford.
Key Highlights
- Income‑generating two‑family home ideal for investors or multi‑generational living.
- Prime West Medford location near commuter rail, Fells Reservation, and schools.
- Each unit features two bedrooms, full bath, large kitchen, open living/dining, and office/sunroom.
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
$51,547
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
5.18%
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%
$1,030,940
$1.0M
Cap Rate 7%
$736,386
$736.4K
Cap Rate 9%
$572,744
$572.7K
Market Conditions
NOI Build-Up for 2,436 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
$77.5K $31.80/SF
− Vacancy
−$3.8K −$1.57/SF
EGI
$73.6K $30.23/SF
− OpEx
−$22.1K −$9.07/SF
NOI
$51.5K $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%
$1,030,940
Cap Rate 7%
$736,386
Cap Rate 9%
$572,744
Alternative Uses
Best Use
Multifamily LT 5
$736.4K
$644.3K – $859.1K
NOI $51,547 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$692.4K
$605.9K – $807.8K
NOI $48,468 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,947 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
365
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 home with income potential in a prime location.
Where is this duplex located?
The property is located at 40 Century St Medford, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Income‑generating two‑family home ideal for investors or multi‑generational living.; Prime West Medford location near commuter rail, Fells Reservation, and schools.; Each unit features two bedrooms, full bath, large kitchen, open living/dining, and office/sunroom.
