Three-Story Duplex with
New
For Sale
$975,000
81 Fellsway W, Medford, MA 02155
Classic multi-family property with hardwood floors, outdoor space, and access to transit, shopping, parks, and major regional destinations.
Property Size2,920 SF
Lot Size0.11 Acres
Price / SF$333.90
Days on Market7
Property Features for 81 Fellsway W
General Information
Standard status
Active
Size
2,920 SF
Lot size
0.11 Acres
Property subtype
Multifamily
Property Condition
Severity
Repairs Needed
Evidence
updating
Site & Location
Highway Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,254
Amenities
hardwood floors
full basement
yard
deck
Building Details
Building Size
2,920 SF
Year Built
1921
Stories
3
Listing Agency:
Skylimit Real Estate LLC
(617) 416-5745
Listed By:
Hector Cocar
Source:
Classifiedrealtygroup
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 31 at 1:42PM
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 Skylimit Real Estate LLC
Investment Insights
Based on property information with market context.
This 1921 duplex offers approximately 2,920 square feet across three stories, with 8 bedrooms and 3 baths. The property is legally configured as a two-family residence and was previously used as three units. Interior features include large rooms, hardwood floors, a full basement, gas heat, gas water, and some updated systems. Outdoor improvements include a yard and large deck on a roughly 4,832-square-foot corner lot.
The property is located at 81 Fellsway W in Medford, near bus lines, shopping, Medford Square, and retail along the Fellsway corridor. Access to I-93, Wellington Station and the Orange Line supports travel throughout the area, while Riverbend Park, the Mystic River, and the Middlesex Fells Reservation provide nearby recreational destinations. Tufts University, Boston, and Cambridge are also within convenient reach.
The property is located at 81 Fellsway W in Medford, near bus lines, shopping, Medford Square, and retail along the Fellsway corridor. Access to I-93, Wellington Station and the Orange Line supports travel throughout the area, while Riverbend Park, the Mystic River, and the Middlesex Fells Reservation provide nearby recreational destinations. Tufts University, Boston, and Cambridge are also within convenient reach.
Key Highlights
- Approximately 2,920 square feet across three stories
- Legally a two‑family property; previously configured and used as three units
- 8 bedrooms and 3 baths total
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
$61,788
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
6.34%
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%
$1,235,760
$1.2M
Cap Rate 7%
$882,686
$882.7K
Cap Rate 9%
$686,533
$686.5K
Market Conditions
NOI Build-Up for 2,920 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
$92.9K $31.80/SF
− Vacancy
−$4.6K −$1.57/SF
EGI
$88.3K $30.23/SF
− OpEx
−$26.5K −$9.07/SF
NOI
$61.8K $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%
$1,235,760
Cap Rate 7%
$882,686
Cap Rate 9%
$686,533
Alternative Uses
Best Use
Multifamily LT 5
$882.7K
$772.4K – $1.03M
NOI $61,788 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$830.0K
$726.2K – $968.3K
NOI $58,098 @ 7.0% cap · market cap 5.96%
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $121,004 @ 7.0% cap · market cap 12.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
822
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 - Classic multi-family property with hardwood floors, outdoor space, and access to transit, shopping, parks, and major regional destinations.
Where is this duplex located?
The property is located at 81 Fellsway W Medford, MA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Approximately 2,920 square feet across three stories; Legally a two‑family property; previously configured and used as three units; 8 bedrooms and 3 baths total
