Two-Unit Residential Income
For Sale
$970,000
Pending
443 Medford St, Somerville, MA 02145
Two-unit multifamily with separate 2-bed unit and a larger 3-bed, 2-bath split-level unit needing updates.
Property Size2,434 SF
Days on Market61
Property Features for 443 Medford St
General Information
Standard status
Pending
Size
2,434 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$11,034
Building Details
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
Nova Home Group
(617) 416-8025
Source:
Exprealty
Added: Jul 8
Changed: Sep 4
Last Checked: Sep 6 at 3:26PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This two-unit residential income property offers a first unit with 2 bedrooms and 1 bathroom and a second unit with spacious two-level living featuring 3 bedrooms and 2 bathrooms. The property is described as being in need of updates, with an opportunity for renovation and customization.
The address is 443 Medford Street in Somerville, MA. Public remarks note convenient access to Assembly Row, Union Square, Tufts University, public transportation, and parks.
As presented, the layout provides two distinct residential units with differing bedroom and bathroom configurations, supported by a shared lot setting.
The address is 443 Medford Street in Somerville, MA. Public remarks note convenient access to Assembly Row, Union Square, Tufts University, public transportation, and parks.
As presented, the layout provides two distinct residential units with differing bedroom and bathroom configurations, supported by a shared lot setting.
Key Highlights
- Two‑unit multifamily on Medford Street with separate 2‑bed/1‑bath unit and a larger 3‑bed/2‑bath split‑level unit
- First unit is move‑in ready with 2 beds and 1 bath, with opportunity for cosmetic updates
- Second unit offers 2‑level living with 3 beds and 2 baths, providing space for renovation and added value
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
$51,504
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
5.31%
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%
$1,030,080
$1.0M
Cap Rate 7%
$735,771
$735.8K
Cap Rate 9%
$572,267
$572.3K
Market Conditions
NOI Build-Up for 2,434 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
$77.4K $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%
$1,030,080
Cap Rate 7%
$735,771
Cap Rate 9%
$572,267
Alternative Uses
Best Use
Multifamily LT 5
$735.8K
$643.8K – $858.4K
NOI $51,504 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$691.8K
$605.4K – $807.1K
NOI $48,428 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,864 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,620
Businesses Nearby
Explore this area
Business Placement
Demographics for 02145, MA
27,520
Population
12,669
Households
2.2
Avg Household Size
33
Median Age
55%
College-Educated
89%
High-School Grad
1.4 sq mi
ZIP Area
19,657
Density / Sq Mi
$119,167
Median Household Income
$63,629
Median Earnings
$2,377
Median Rent
$784,900
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-unit multifamily with separate 2-bed unit and a larger 3-bed, 2-bath split-level unit needing updates.
Where is this duplex located?
The property is located at 443 Medford St Somerville, MA.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Two‑unit multifamily on Medford Street with separate 2‑bed/1‑bath unit and a larger 3‑bed/2‑bath split‑level unit; First unit is move‑in ready with 2 beds and 1 bath, with opportunity for cosmetic updates; Second unit offers 2‑level living with 3 beds and 2 baths, providing space for renovation and added value
