Duplex with Remodeled First
New
For Sale
$1,289,000
84-86 Park St, Medford, MA 02155
Two-family property with separate utilities, central air, private parking, and a level rear yard.
Property Size1,872 SF
Days on Market4
Property Features for 84-86 Park St
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$7,068
Building Details
Building Size
1,872 SF
Year Built
1984
Stories
2
Units
2
Listing Agency:
RE/MAX ANDREW REALTY SERVICES
(617) 840-5499
Listed By:
John Veneziano
(617) 840-5499
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 11:58AM
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 RE/MAX ANDREW REALTY SERVICES
Investment Insights
Based on property information with market context.
This 1984 duplex at 84-86 Park St comprises two four-room units, each arranged with a living room, kitchen, two bedrooms, and a full bathroom. The first-floor apartment has been recently remodeled. Separate utilities, central air, and a level rear yard add practical features for the property. Each unit also has 2-car off-street parking.
The Medford location provides access to I-93, major routes, public transportation, Haines and Medford Squares, the Mystic River, Wellington Circle, the MBTA Station, and Assembly Row. Shops, restaurants, and everyday services are also nearby. The property may be purchased with the adjacent two-family at 88-90 Park Street as part of a two-property package.
The Medford location provides access to I-93, major routes, public transportation, Haines and Medford Squares, the Mystic River, Wellington Circle, the MBTA Station, and Assembly Row. Shops, restaurants, and everyday services are also nearby. The property may be purchased with the adjacent two-family at 88-90 Park Street as part of a two-property package.
Key Highlights
- Two 4‑room units, each with a living room, kitchen, 2 bedrooms, and full bath
- Recently remodeled first‑floor unit
- 2‑car off‑street parking 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
$39,612
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
3.07%
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%
$792,240
$792.2K
Cap Rate 7%
$565,886
$565.9K
Cap Rate 9%
$440,133
$440.1K
Market Conditions
NOI Build-Up for 1,872 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
$59.5K $31.80/SF
− Vacancy
−$2.9K −$1.57/SF
EGI
$56.6K $30.23/SF
− OpEx
−$17.0K −$9.07/SF
NOI
$39.6K $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%
$792,240
Cap Rate 7%
$565,886
Cap Rate 9%
$440,133
Alternative Uses
Best Use
Multifamily LT 5
$565.9K
$495.2K – $660.2K
NOI $39,612 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$532.1K
$465.6K – $620.8K
NOI $37,246 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$1.11M
$969.7K – $1.29M
NOI $77,575 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,051
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-family property with separate utilities, central air, private parking, and a level rear yard.
Where is this duplex located?
The property is located at 84-86 Park St Medford, MA.
What is the asking price?
The asking price for this property is $1,289,000.
What are key features of this property?
This property features: Two 4‑room units, each with a living room, kitchen, 2 bedrooms, and full bath; Recently remodeled first‑floor unit; 2‑car off‑street parking per unit
