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 Market372
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), Ceiling Fan(s)
Steam, Oil
Full, Interior Entry, Unfinished
Range, Dishwasher, Disposal
Ceiling Fan(s)
Paved, Off Street, Tandem
Garden, Balcony
Building Details
Building Size
2,436 SF
Year Built
1920
Stories
2
Listing Agency:
Gibson Sotheby's International Realty
Listed By:
Steve McKenna & The Home Advantage Team
(781) 645-0505
Source:
Evrealestate
Added: Oct 16, 2025
Changed: Oct 21
Last Checked: Oct 20 at 8:09PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$48,468
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
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
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
