Updated Two-Family
23 Thorndike St Revere, MA 02151
23 Thorndike St, Revere, MA, 02151
$859,999
For Sale
$859,999
Move-in ready two-unit residence with in-unit laundry, updated baths, and recent improvements including new windows and heating in Unit 1.
Property Size2,052 SF
Price / SF$419.10
Days on Market38
Property Features for 23 Thorndike St
General Information
- Standard status
- Active
- Size
- 2,052 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1900
Listing agency
Access
(617) 825-8000
Listed by
Dot Collection
Source
Allisonmazer
Added: Jun 15 Updated: Jul 22 at 4:47AM Checked: Jul 22 at 4:47AM
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 Access
Investment Insights
Based on property information with market context.
This updated two-family home offers two sun-filled units within a well-proportioned layout, each featuring in-unit laundry, two bedrooms, an updated full bath, and open, separated bedroom layouts for added privacy. Unit 1 has recent improvements including new windows and a heating system, along with hardwood floors and granite countertops. Unit 2 is in immaculate condition and includes a balcony that opens to the private backyard.
The property is located in a quiet neighborhood, just minutes from Revere Beach and the Blue Line, providing nearby options for coastal recreation and commuter access.
Unit 1 is to be delivered vacant, supporting flexible ownership and immediate occupancy planning.
The property is located in a quiet neighborhood, just minutes from Revere Beach and the Blue Line, providing nearby options for coastal recreation and commuter access.
Unit 1 is to be delivered vacant, supporting flexible ownership and immediate occupancy planning.
Key Highlights
- Updated move‑in ready 2‑family home with 2,052 SF across two separate units
- Each unit features in‑unit laundry, 2 bedrooms, an updated full bath, and open‑layout living with bedroom separation
- Unit 1 updates include new windows and heating system, plus hardwood floors and granite countertops
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 | $59.1k | $28.80 |
| − Vacancy | −$3.3k | −$1.58 |
| EGI | $55.8k | $27.22 |
| − OpEx | −$16.8k | −$8.16 |
| NOI | $39.1k | $19.05 |
2,052 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$558.5K
$488.7K – $651.6K
NOI $39,093 @ 7.0% cap · market cap 4.55%
Second Best
Apartment 5plus
$509.2K
$445.6K – $594.1K
NOI $35,646 @ 7.0% cap · market cap 4.14%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,034 @ 7.0% cap · market cap 9.89%
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 - Move-in ready two-unit residence with in-unit laundry, updated baths, and recent improvements including new windows and heating in Unit 1.
Where is this duplex located?
The property is located at 23 Thorndike St Revere, MA.
What is the asking price?
The asking price for this property is $859,999.
What are key features of this property?
This property features: Updated move‑in ready 2‑family home with 2,052 SF across two separate units; Each unit features in‑unit laundry, 2 bedrooms, an updated full bath, and open‑layout living with bedroom separation; Unit 1 updates include new windows and heating system, plus hardwood floors and granite countertops
