Two-Family Residential Conversion
For Sale
$849,000
40 Summer St, Medford, MA 02155
Two-family home on a convenient Medford location near major access routes, suited to investors or a renovation-minded owner.
Property Size1,711 SF
Price / SF$496.20
Days on Market111
Property Features for 40 Summer St
General Information
Standard status
Active
Size
1,711 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
SF2
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,889
Building Details
Building Size
1,711 SF
Year Built
1910
Stories
3
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
(617) 666-2121
Listed By:
Jacqueline Veri
(617) 293-3005
Source:
Churchillprop
Added: Jun 17
Changed: Oct 1
Last Checked: Oct 4 at 7:25AM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
Investment Insights
Based on property information with market context.
The property is a two-family residential structure currently configured as a duplex. It was originally built as a single-family residence and converted into a two-family home in the 1980s. With a history of rental use, it offers a straightforward basis for continued residential income or for renovation work aimed at restoring the original single-family layout.
Situated in Medford, the property is described as being a short distance from Tufts University and the Green Line Extension. It is also positioned near shopping and restaurants, with access to major highways. The stated mobility and access context includes a walk score of 72 (very walkable), a transit score of 43 (some transit), and a bike score of 45 (somewhat bikeable).
This layout can fit a buyer looking for residential income through the existing two-family configuration, or a builder/contractor or homeowner who wants to renovate and potentially reconfigure the home back to a single-family residence. The property’s stated conversion history and accessible location make it practical for parties evaluating redevelopment or restoration within an established neighborhood setting.
Situated in Medford, the property is described as being a short distance from Tufts University and the Green Line Extension. It is also positioned near shopping and restaurants, with access to major highways. The stated mobility and access context includes a walk score of 72 (very walkable), a transit score of 43 (some transit), and a bike score of 45 (somewhat bikeable).
This layout can fit a buyer looking for residential income through the existing two-family configuration, or a builder/contractor or homeowner who wants to renovate and potentially reconfigure the home back to a single-family residence. The property’s stated conversion history and accessible location make it practical for parties evaluating redevelopment or restoration within an established neighborhood setting.
Key Highlights
- Two‑family home with strong rental history; originally a single‑family residence and converted in the 1980s
- Year built 1910—conversion details and potential to renovate or restore to a single‑family layout
- Convenient Medford location near Tufts University, Green Line Extension, shopping, restaurants, and major highway access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,205
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$724,100
$724.1K
Cap Rate 7%
$517,214
$517.2K
Cap Rate 9%
$402,278
$402.3K
Market Conditions
NOI Build-Up for 1,711 SF
Gross rent
$54.4K $31.80/SF
− Vacancy
−$2.7K −$1.57/SF
EGI
$51.7K $30.23/SF
− OpEx
−$15.5K −$9.07/SF
NOI
$36.2K $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%
$724,100
Cap Rate 7%
$517,214
Cap Rate 9%
$402,278
Alternative Uses
Best Use
Multifamily LT 5
$517.2K
$452.6K – $603.4K
NOI $36,205 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$486.3K
$425.5K – $567.4K
NOI $34,043 @ 7.0% cap · market cap 4.01%
Theoretical Best
Office A
$1.01M
$886.3K – $1.18M
NOI $70,903 @ 7.0% cap · market cap 8.35%
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
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,975
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-family home on a convenient Medford location near major access routes, suited to investors or a renovation-minded owner.
Where is this duplex located?
The property is located at 40 Summer St Medford, MA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Two‑family home with strong rental history; originally a single‑family residence and converted in the 1980s; Year built 1910—conversion details and potential to renovate or restore to a single‑family layout; Convenient Medford location near Tufts University, Green Line Extension, shopping, restaurants, and major highway access
