Two-Family Coastal
153 Locust Street Winthrop, MA 02152
153 Locust Street, Winthrop, MA, 02152
$750,000
For Sale
$750,000
Two-family home offers off-street parking and flexible living with a one-bedroom and a three-bedroom unit.
Property Size1,963 SF
Price / SF$382.07
Days on Market35
Property Features for 153 Locust Street
General Information
- Standard status
- Active
- Size
- 1,963 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1930
Listing agency
Charlesgate Realty Group,llc
Listed by
Mary Ann Cash
(617) 875-4950
Source
Sarkisboston
Added: Jun 17 Updated: Jul 20 at 9:02PM Checked: Jul 21 at 6:33AM
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 Charlesgate Realty Group,llc
Investment Insights
Based on property information with market context.
Built in the 1930s, this two-family residence was originally described as a seaside cottage and is offered for sale with flexible living options. The property is configured with Unit 1 as a one-bedroom and Unit 2 as a three-bedroom, creating multiple ways to use the space. Off-street parking is also available.
The home is described as just steps to the beach. It has been family-owned for more than 70 years, and the listing notes updating is needed, with the price reflecting that condition.
Overall, the asset is well-suited for buyers seeking a duplex structure with room to tailor the layout and living arrangement, including the possibility of converting the home to a single-family use as suggested in the remarks.
The home is described as just steps to the beach. It has been family-owned for more than 70 years, and the listing notes updating is needed, with the price reflecting that condition.
Overall, the asset is well-suited for buyers seeking a duplex structure with room to tailor the layout and living arrangement, including the possibility of converting the home to a single-family use as suggested in the remarks.
Key Highlights
- Two‑family home built in 1930, originally a seaside cottage
- Flexible living layout: Unit 1 is a 1‑bedroom and Unit 2 is a 3‑bedroom
- Off‑street parking available
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.5k | $28.80 |
| − Vacancy | −$3.1k | −$1.58 |
| EGI | $53.4k | $27.22 |
| − OpEx | −$16.0k | −$8.16 |
| NOI | $37.4k | $19.05 |
1,963 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$534.3K
$467.5K – $623.3K
NOI $37,398 @ 7.0% cap · market cap 4.99%
Second Best
Apartment 5plus
$487.1K
$426.3K – $568.3K
NOI $34,100 @ 7.0% cap · market cap 4.55%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,346 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family home offers off-street parking and flexible living with a one-bedroom and a three-bedroom unit.
Where is this duplex located?
The property is located at 153 Locust Street Winthrop, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑family home built in 1930, originally a seaside cottage; Flexible living layout: Unit 1 is a 1‑bedroom and Unit 2 is a 3‑bedroom; Off‑street parking available
