Renovated Two-Family
For Sale
$1,300,000
7 Smith Street, Medford, MA 02155
Newly renovated two-family with updated kitchens and bathrooms, gas heat, and multiple off-street tandem parking spaces.
Property Size2,278 SF
Price / SF$570.68
Days on Market202
Property Features for 7 Smith Street
General Information
Standard status
Active
Size
2,278 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
Multi fam
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,360
Amenities
https://my.matterport.com/show/?m=XEm8WFbz5JN&
Contract
false
Central, Baseboard, Natural Gas
Electric Dryer Hookup
Wood, Marble, Hardwood, Stone/Ceramic Tile
Range, Dishwasher, Disposal, Refrigerator
Lead Certification Available, Bathroom with Shower Stall, Storage, Stone/Granite/Solid Counters, Living Room, Dining Room, Kitchen, Mudroom, Sunroom
No
Shingle
for Electric Range, for Electric Oven, for Electric Dryer
4
Building Details
Year Built
1910
Stories
2
Tenancy
Multi
Listing Agency:
Centre Realty Group
Listed By:
William L. Lefevre · License #9052559
(617) 332-0077
Source:
Arborviewrealtyinc
Added: Feb 15
Changed: Aug 23
Last Checked: Jul 25 at 12:26PM
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 Centre Realty Group
Investment Insights
Based on property information with market context.
7 Smith Street is a newly renovated two-family property offering turnkey income potential. Both units include refinished hardwood floors, designer tile flooring, sleek updated kitchens, and fully renovated bathrooms. The home is supported by gas heat and gas hot water.
Parking is a key advantage, with 3–4 off-street tandem spaces plus ample on-street permit parking. The property also provides easy access to Route 93 and is located about 0.5 miles from the Ball Square Green Line T stop.
The building’s updated interior finishes and utilities, along with its parking configuration, support a low-maintenance, ready-to-occupy setup for either an investor or an owner-occupant seeking rental income.
Parking is a key advantage, with 3–4 off-street tandem spaces plus ample on-street permit parking. The property also provides easy access to Route 93 and is located about 0.5 miles from the Ball Square Green Line T stop.
The building’s updated interior finishes and utilities, along with its parking configuration, support a low-maintenance, ready-to-occupy setup for either an investor or an owner-occupant seeking rental income.
Key Highlights
- Newly renovated 2‑family home with updated kitchens, fully renovated bathrooms, and refinish/updated flooring
- Gas heat and hot water to help improve operating efficiency
- Insulated windows and wood/marble/hardwood/stone/ceramic tile flooring throughout
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
$48,203
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
3.71%
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%
$964,060
$964.1K
Cap Rate 7%
$688,614
$688.6K
Cap Rate 9%
$535,589
$535.6K
Market Conditions
NOI Build-Up for 2,278 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
$68.9K $30.23/SF
− OpEx
−$20.7K −$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%
$964,060
Cap Rate 7%
$688,614
Cap Rate 9%
$535,589
Alternative Uses
Best Use
Multifamily LT 5
$688.6K
$602.5K – $803.4K
NOI $48,203 @ 7.0% cap · market cap 3.71%
Second Best
Apartment 5plus
$647.5K
$566.6K – $755.4K
NOI $45,325 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$1.35M
$1.18M – $1.57M
NOI $94,400 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,382
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 - Newly renovated two-family with updated kitchens and bathrooms, gas heat, and multiple off-street tandem parking spaces.
Where is this duplex located?
The property is located at 7 Smith Street Medford, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Newly renovated 2‑family home with updated kitchens, fully renovated bathrooms, and refinish/updated flooring; Gas heat and hot water to help improve operating efficiency; Insulated windows and wood/marble/hardwood/stone/ceramic tile flooring throughout
