Renovated Two-Unit
49-51 Spring Street, Medford, MA 02155
For Sale
New
$2,075,000
Each residence has three finished levels, private outdoor space, and a separate unfinished basement.
Property Size3,540 SF
Price / SF$586.16
Days on Market3
Property Features for 49-51 Spring Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Units
Unit Mix
Multifamily Units
Additional Details
Asking Price
Highway Access
Taxes and HOA fees
Annual Taxes
Amenities
Pantry
Cathedral/Vaulted Ceilings
Storage
Crown Molding
Stone/Granite/Solid Counters
High Speed Internet
Upgraded Cabinets
Upgraded Countertops
Bathroom with Shower Stall
Bathroom With Tub
Bathroom With Tub & Shower
Open Floorplan
Remodeled
Internet Available - Broadband
Living Room
Dining Room
Kitchen
Office/Den
Sunroom
Balcony/Deck
Rain Gutters
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listing Agency:
William Raveis R.E. & Home Services
(617) 964-1850
Listed By:
Ryan Cook
(617) 485-8434
Source:
Condonrealty
Added: Nov 6
Last Checked: Nov 7 at 9:51AM
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 William Raveis R.E. & Home Services
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Investment Insights
Based on property information with market context.
This two-unit duplex at 49–51 Spring Street contains 3,540 square feet. Each residence spans three finished levels with four bedrooms, three-and-a-half bathrooms, two ensuite bedrooms, second-floor laundry, private outdoor space, and an unfinished basement for additional storage. Renovation and expansion brought updated systems, fiber-cement siding, white oak flooring, and remodeled kitchens and baths while retaining architectural details such as red oak inlays above each porch.
The property is in Medford, near Tufts University, Medford Square, Somerville, and Cambridge, with access to I-93 and Boston. Zoned SF2, it is offered as a two-residence property. The separate homes provide distinct living spaces within one property.
The property is in Medford, near Tufts University, Medford Square, Somerville, and Cambridge, with access to I-93 and Boston. Zoned SF2, it is offered as a two-residence property. The separate homes provide distinct living spaces within one property.
Key Highlights
- Two residences with a combined 3,540 square feet
- Each home has 4 bedrooms, 3.5 bathrooms, and 2 ensuite bedrooms
- Three levels of finished living space in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,908
Cap Rate
3.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,498,160
$1.5M
Cap Rate 7%
$1,070,114
$1.1M
Cap Rate 9%
$832,311
$832.3K
Market Conditions
NOI Build-Up for 3,540 SF
Gross rent
$112.6K $31.80/SF
− Vacancy
−$5.6K −$1.57/SF
EGI
$107.0K $30.23/SF
− OpEx
−$32.1K −$9.07/SF
NOI
$74.9K $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%
$1,498,160
Cap Rate 7%
$1,070,114
Cap Rate 9%
$832,311
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$936.4K – $1.25M
NOI $74,908 @ 7.0% cap · market cap 3.61%
Second Best
Apartment 5plus
$1.01M
$880.4K – $1.17M
NOI $70,434 @ 7.0% cap · market cap 3.39%
Theoretical Best
Office A
$2.10M
$1.83M – $2.44M
NOI $146,697 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
903
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
$715,500
Median Home Value
Market
Average Price Trend$/SF for Duplexes in Medford, MA
Properties on Market for Duplexes in Medford
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has three finished levels, private outdoor space, and a separate unfinished basement.
Where is this duplex located?
The property is located at 49-51 Spring Street Medford, MA.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: Two residences with a combined 3,540 square feet; Each home has 4 bedrooms, 3.5 bathrooms, and 2 ensuite bedrooms; Three levels of finished living space in each residence
