38-40 Cherry St Medford — Photo 1 of 40
$1,200,000
Investment Analysis — 38-40 Cherry St
Medford, MA 02155
Based on rent reported on the MLS listing, a 2-unit multi-family in 02155 carries $5,600/mo in gross rent — about a 3.49% cap rate and $41,899/yr in estimated NOI at the $1,200,000 list price. Adjust every assumption in the calculator below.
Beds
6
Baths
2
SqFt
2,630
Style
2 Family - 2 Units Up/Down
Built
1920
Meticulously maintained Medford 2-family with lots of updates by the current owner that still offers an opportunity for upside improvements. Both units have had regular updates, including recently refinished hardwood floors, regular paint updates, and updated kitchens and baths. Both units are currently rented under leases, making it a great investment property with an opportunity for future owner-occupancy. The walk-up heated attic provides a great opportunity for expanding the 2nd-floor unit. Electric was updated to 200amp, boilers were done in the early 2000s, and water heaters were recently replaced. The roof was done in 2008. Full basement waterproofing just completed. Mini splits were added to unit 2 in 2020, and 1st floor windows have just been updated.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Immersive Experience
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Microwave • Refrigerator
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • Laundromat
Geography
Property History
$1,200,000
Was $1,150,000
Sep 10, 2026
MLS® 73536452
$1,150,000
Jun 16, 2026
MLS® 73536452
$454,000
Jul 14, 2011
MLS® 71241241
$474,000
Jun 1, 2011
MLS® 71241241
Listing Agent: Jamie Thompson
Listing Office: Thompson Realty
MLS® Number: 73536452
