Duplex with In-Ground
For Sale
$1,138,888
Pending
48 Metcalf Street, Medford, MA 02155
Two residential units combine period character, updated utilities, in-unit laundry, and a landscaped outdoor setting with pool and patios.
Property Size2,276 SF
Days on Market114
Property Features for 48 Metcalf Street
General Information
Standard status
Pending
Size
2,276 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
GR
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Amenities
pool
in-unit laundry
French doors
Piano windows
enclosed porches
custom tile bath
walk-in shower
open air porches
patios
lush green gardens
Building Details
Building Size
2,276 SF
Year Built
1906
Buildings
1
Stories
2
Listing Agency:
Realty ONE Group Cosmopolitan
Listed By:
Catallo Team
Source:
Cjbarrett
Added: May 11
Changed: Aug 29
Last Checked: May 28 at 5:47AM
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 Realty ONE Group Cosmopolitan
Investment Insights
Based on property information with market context.
Built in 1906, this 2,276-square-foot duplex contains two three-bedroom units with six- and seven-room layouts. Both residences offer eat-in kitchens, ample cabinetry and storage, hardwood flooring, enclosed or open-air porches, and in-unit laundry. Unit 2 adds enclosed front and rear porch areas, a custom-tile bathroom with walk-in shower, and modern interior finishes, while Unit 1 retains stained woodwork and hardwood floors beneath carpeting. Separate utilities include 200-amp electric service, with 100 amps allocated to each unit.
The exterior includes an in-ground pool, paved patios, landscaped gardens, and a four-car paved driveway. A large basement provides high ceilings, a finished room, and an exterior side entrance. The property is near the Mystic River, Tufts University, and Green Line train service. The roof is 5 years old.
The exterior includes an in-ground pool, paved patios, landscaped gardens, and a four-car paved driveway. A large basement provides high ceilings, a finished room, and an exterior side entrance. The property is near the Mystic River, Tufts University, and Green Line train service. The roof is 5 years old.
Key Highlights
- 2,276‑square‑foot duplex built in 1906
- Two 3‑bedroom units with 6- and 7‑room layouts
- Separate utilities with 200‑amp electric and 100 amps per unit
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
$48,161
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
4.23%
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%
$963,220
$963.2K
Cap Rate 7%
$688,014
$688.0K
Cap Rate 9%
$535,122
$535.1K
Market Conditions
NOI Build-Up for 2,276 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
$72.4K $31.80/SF
− Vacancy
−$3.6K −$1.57/SF
EGI
$68.8K $30.23/SF
− OpEx
−$20.6K −$9.07/SF
NOI
$48.2K $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 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%
$963,220
Cap Rate 7%
$688,014
Cap Rate 9%
$535,122
Alternative Uses
Best Use
Multifamily LT 5
$688.0K
$602.0K – $802.7K
NOI $48,161 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$646.9K
$566.1K – $754.8K
NOI $45,285 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,317 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,790
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 residential units combine period character, updated utilities, in-unit laundry, and a landscaped outdoor setting with pool and patios.
Where is this duplex located?
The property is located at 48 Metcalf Street Medford, MA.
What is the asking price?
The asking price for this property is $1,138,888.
What are key features of this property?
This property features: 2,276‑square‑foot duplex built in 1906; Two 3‑bedroom units with 6- and 7‑room layouts; Separate utilities with 200‑amp electric and 100 amps per unit
