Multifamily Property with
For Sale
$995,000
Pending
40 Century Street, Medford, MA 02155
R2-zoned multifamily property with off-street tandem parking, garden space, and an unfinished basement.
Property Size2,436 SF
Days on Market320
Property Features for 40 Century Street
General Information
Standard status
Pending
Size
2,436 SF
Total Parking Spaces
4
Property subtype
Residential Income
Zoning
R2
Net Operating Income
$9,000
Taxes and HOA fees
Annual Taxes
$7,536
Amenities
Park
None, Wall Unit(s)
Steam, Oil
Full, Interior Entry, Unfinished
Range, Dishwasher, Disposal
Ceiling Fan(s)
Paved, Off Street, Tandem
Garden
Building Details
Building Size
2,436 SF
Year Built
1920
Stories
2
Listing Agency:
Gibson Sotheby's International Realty
(781) 645-0505
Listed By:
Steve McKenna & The Home Advantage Team
(781) 645-0505
Source:
Evrealestate
Added: Oct 16, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:54PM
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 Gibson Sotheby's International Realty
Investment Insights
Based on property information with market context.
Built in 1920, this 2,436-square-foot multifamily property is situated on an R2-zoned parcel. The interior includes wall unit(s), steam and oil heating, ceiling fans, and a full unfinished basement with interior entry. The kitchen is equipped with a range, dishwasher, and disposal.
Exterior improvements include paved off-street tandem parking and garden space. The property is located on Century Street in Medford, with access via Playstead Road to Century Street.
Exterior improvements include paved off-street tandem parking and garden space. The property is located on Century Street in Medford, with access via Playstead Road to Century Street.
Key Highlights
- 2,436‑square‑foot multifamily property built in 1920
- R2 zoning
- Full unfinished basement with interior entry
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
$48,468
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
4.87%
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%
$969,360
$969.4K
Cap Rate 7%
$692,400
$692.4K
Cap Rate 9%
$538,533
$538.5K
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
$93.0K $38.16/SF
− Vacancy
−$4.8K −$1.98/SF
EGI
$88.1K $36.18/SF
− OpEx
−$39.7K −$16.28/SF
NOI
$48.5K $19.90/SF
Area
Middlesex County, MA
Vacancy
5.20%
Lease Rate
$38.16 /SF/Yr
Expense Ratio
45.00%
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%
$969,360
Cap Rate 7%
$692,400
Cap Rate 9%
$538,533
Alternative Uses
Best Use
Apartment 5plus
$692.4K
$605.9K – $807.8K
NOI $48,468 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
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
Current Use
Location Intelligence
Trade Area within ½ mile
294
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R2-zoned multifamily property with off-street tandem parking, garden space, and an unfinished basement.
Where is this multifamily property located?
The property is located at 40 Century Street 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: 2,436‑square‑foot multifamily property built in 1920; R2 zoning; Full unfinished basement with interior entry
