East Cambridge Development
For Sale
$2,295,000
Pending
76-78 Thorndike St, Cambridge, MA 02141
Single family and four-family property with development potential.
Property Size4,967 SF
Lot Size0.10 Acres
Days on Market211
Property Features for 76-78 Thorndike St
General Information
Standard status
Pending
Size
4,967 SF
Lot size
0.10 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$13,654
Building Details
Building Size
4,967 SF
Year Built
1902
Stories
7
Units
5
Listed By:
April Zelesnik
(617) 470-8354
Source:
Elliman
Added: Mar 10
Changed: Sep 30
Last Checked: Oct 5 at 5:28PM
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 April Zelesnik
Investment Insights
Based on property information with market context.
This East Cambridge property presents a generational development opportunity, featuring a single-family home and a four-family building. The four-family building contains four units, each with two bedrooms. The single-family home includes a welcoming front porch, a large living room, and an eat-in kitchen, as well as four bedrooms and two bathrooms. The basement offers expansion potential and includes a full laundry room. The upper floor units in the four-family building feature large walk-in closets. The property includes walk-out roof access and storage/laundry facilities in both basements. A driveway with two parking spaces and new pavers leads to the rear building. The property requires renovation and offers significant development potential. The property is sold "as is"/"where is".
Key Highlights
- Generational development opportunity in East Cambridge.
- Includes a single family home and a four‑family building.
- Four‑family building contains four 2‑bedroom/1‑bath units.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$116,442
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,328,840
$2.3M
Cap Rate 7%
$1,663,457
$1.7M
Cap Rate 9%
$1,293,800
$1.3M
Market Conditions
NOI Build-Up for 4,967 SF
Gross rent
$220.5K $44.40/SF
− Vacancy
−$8.8K −$1.78/SF
EGI
$211.7K $42.62/SF
− OpEx
−$95.3K −$19.18/SF
NOI
$116.4K $23.44/SF
Area
Cambridge, MA
Vacancy
4.00%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,328,840
Cap Rate 7%
$1,663,457
Cap Rate 9%
$1,293,800
Alternative Uses
Best Use
Apartment 5plus
$1.66M
$1.46M – $1.94M
NOI $116,442 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,052 @ 7.0% cap · market cap 11.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
4,551
Businesses Nearby
Explore this area
Business Placement
Demographics for 02141, MA
15,130
Population
8,128
Households
1.9
Avg Household Size
32
Median Age
74%
College-Educated
94%
High-School Grad
0.6 sq mi
ZIP Area
25,217
Density / Sq Mi
$120,542
Median Household Income
$73,002
Median Earnings
$2,752
Median Rent
$892,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Single family and four-family property with development potential.
Where is this apartment building located?
The property is located at 76-78 Thorndike St Cambridge, MA.
What is the asking price?
The asking price for this property is $2,295,000.
What are key features of this property?
This property features: Generational development opportunity in East Cambridge.; Includes a single family home and a four‑family building.; Four‑family building contains four 2‑bedroom/1‑bath units.
