Three-Level
New
For Sale
$949,000
190 Pleasant St, Winthrop, MA 02152
Two-family property with flexible living arrangements and access to nearby beaches, shops, restaurants, transit, and Boston.
Property Size4,251 SF
Price / SF$223.24
Days on Market6
Property Features for 190 Pleasant St
General Information
Standard status
Active
Size
4,251 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Stories
3
Listing Agency:
REMAX Andrew Realty Services
(781) 395-7676
Listed By:
Michael MacDonald
(978) 648-8671
Source:
Lockandkeyre
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 6:40AM
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 REMAX Andrew Realty Services
Investment Insights
Based on property information with market context.
This two-family property spans three levels and provides approximately 4,251 square feet of living space. The layout includes 13 total rooms, seven bedrooms, two full bathrooms, and two half bathrooms, giving each unit substantial room for living and household use. Built in 1890, the property offers a spacious configuration suitable for owner occupancy, rental operations, or multigenerational living.
Located at 190 Pleasant St in Winthrop, the home is near beaches, local shops, restaurants, public transportation, and Boston. Its two-unit arrangement and adaptable interior provide a range of ways to use the existing space while retaining the character of an older residential property.
Located at 190 Pleasant St in Winthrop, the home is near beaches, local shops, restaurants, public transportation, and Boston. Its two-unit arrangement and adaptable interior provide a range of ways to use the existing space while retaining the character of an older residential property.
Key Highlights
- Approximately 4,251 square feet across three levels
- Two‑family duplex configuration
- 13 total rooms with seven 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
$80,987
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
8.53%
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%
$1,619,740
$1.6M
Cap Rate 7%
$1,156,957
$1.2M
Cap Rate 9%
$899,856
$899.9K
Market Conditions
NOI Build-Up for 4,251 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
$122.4K $28.80/SF
− Vacancy
−$6.7K −$1.58/SF
EGI
$115.7K $27.22/SF
− OpEx
−$34.7K −$8.16/SF
NOI
$81.0K $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%
$1,619,740
Cap Rate 7%
$1,156,957
Cap Rate 9%
$899,856
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.01M – $1.35M
NOI $80,987 @ 7.0% cap · market cap 8.53%
Second Best
Apartment 5plus
$1.05M
$923.1K – $1.23M
NOI $73,845 @ 7.0% cap · market cap 7.78%
Theoretical Best
Office A
$2.52M
$2.20M – $2.94M
NOI $176,160 @ 7.0% cap · market cap 18.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
581
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
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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?
Duplex - Two-family property with flexible living arrangements and access to nearby beaches, shops, restaurants, transit, and Boston.
Where is this duplex located?
The property is located at 190 Pleasant St Winthrop, MA.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: Approximately 4,251 square feet across three levels; Two‑family duplex configuration; 13 total rooms with seven bedrooms
