Two-Family Residential
For Sale
$715,000
153 Locust Street, Winthrop, MA 02152
1930s two-family offers off-street parking and flexible living layouts with a 1-bedroom and a 3-bedroom unit.
Property Size1,963 SF
Price / SF$364.24
Days on Market81
Property Features for 153 Locust Street
General Information
Standard status
Active
Size
1,963 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Multifamily Units
2
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Charlesgate Realty Group,llc
Listed By:
Mary Ann Cash
(617) 846-1234
Source:
Littlefieldre
Added: Jun 18
Changed: Sep 5
Last Checked: Aug 25 at 8:57AM
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.
Charming 1930s two-family residence, originally described as a seaside cottage, offering flexible living options. The property includes off-street parking and two separate units with distinct bedroom layouts: Unit 1 is a one-bedroom, and Unit 2 has three bedrooms. Updates are needed, and the list price reflects that condition.
Located at 153 Locust St. in Winthrop, Massachusetts, the home is described as just steps to the beach. Public remarks also reference a golf course nearby.
This is a residential income property configured as a duplex, with the smaller unit and larger unit providing a practical way to accommodate different household sizes within the same building.
Located at 153 Locust St. in Winthrop, Massachusetts, the home is described as just steps to the beach. Public remarks also reference a golf course nearby.
This is a residential income property configured as a duplex, with the smaller unit and larger unit providing a practical way to accommodate different household sizes within the same building.
Key Highlights
- 1930s two‑family home originally a seaside cottage
- Unit 1 offers 1 bedroom
- Unit 2 offers 3 bedrooms
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
$37,398
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
5.23%
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%
$747,960
$748.0K
Cap Rate 7%
$534,257
$534.3K
Cap Rate 9%
$415,533
$415.5K
Market Conditions
NOI Build-Up for 1,963 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
$56.5K $28.80/SF
− Vacancy
−$3.1K −$1.58/SF
EGI
$53.4K $27.22/SF
− OpEx
−$16.0K −$8.16/SF
NOI
$37.4K $19.05/SF
Area
Suffolk County, MA
Vacancy
5.50%
Lease Rate
$28.80 /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%
$747,960
Cap Rate 7%
$534,257
Cap Rate 9%
$415,533
Alternative Uses
Best Use
Multifamily LT 5
$534.3K
$467.5K – $623.3K
NOI $37,398 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$487.1K
$426.3K – $568.3K
NOI $34,100 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$1.16M
$1.02M – $1.36M
NOI $81,346 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
546
Businesses Nearby
Explore this area
Business Placement
Demographics for 02152, MA
19,316
Population
8,467
Households
2.3
Avg Household Size
44
Median Age
43%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
11,362
Density / Sq Mi
$106,357
Median Household Income
$68,062
Median Earnings
$1,909
Median Rent
$606,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - 1930s two-family offers off-street parking and flexible living layouts with a 1-bedroom and a 3-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 $715,000.
What are key features of this property?
This property features: 1930s two‑family home originally a seaside cottage; Unit 1 offers 1 bedroom; Unit 2 offers 3 bedrooms
