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INVESTMENT SNAPSHOT
About this property
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.
Property details
| Units | 2 |
| Living area | 2,630 sqft |
| Lot size | 4,050 sqft |
| Year built | 1920 |
| Price / sqft | $456 |
| County | Middlesex |
| MLS # | 73536452 |
Listing status
| Days on market | 44 days |
| Listed on | June 16, 2026 |
Taxes & financials
| Annual property tax | $9,173 |
| Tax year | 2026 |
| Assessed value | $1,062,900 |
| Zoning | GR |
| Gross income (actual) | $67,200/yr |
| Net operating income (actual) | $67,200/yr |
| Total actual rent | $5,600/mo |
Building & lot
| Stories | 3 |
| Total rooms | 14 |
| Lot size | 0.09 acres |
| Garage spaces | 0 |
| Parking spaces | 2 |
| Parking | Paved Drive, Off Street, Tandem |
| Basement | Full, Walk-Out Access |
| Foundation | Block, Stone |
| Roof | Shingle |
| Construction | Frame |
| Flooring | Wood, Tile |
Utilities & systems
| Sewer | Public Sewer |
| Water | Public |
| Appliances | Range, Dishwasher, Microwave, Refrigerator |
Location
More about investing in Medford →
Listing courtesy of a MLS PIN member office. Listing data © MLS PIN.
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Questions & answers
Auto-generated from the listing data — richer AI answers coming with the live site.
How many units does 38-40 Cherry St, Medford MA 02155 have?
It is a 2-unit multi-family property with 2,630 sqft of living area, built in 1920.
How long has 38-40 Cherry St, Medford MA 02155 been on the market?
38-40 Cherry St, Medford MA 02155 has been listed for 44 days (since June 16, 2026).
What is the price per unit?
At a list price of $1,200,000 across 2 units, that works out to roughly $600,000 per unit.
What are the property taxes on 38-40 Cherry St, Medford MA 02155?
Annual property taxes are $9,173 (2026), on an assessed value of $1,062,900.
What is the price per square foot?
At $1,200,000 for 2,630 sqft, that's about $456 per square foot.
Is there parking?
2 total parking spaces (paved drive, off street, tandem).
Where is this property located?
38-40 Cherry St, Medford MA 02155 is in Medford, Middlesex County, MA 02155.
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