Updated Two-Family
23 Thorndike St Revere, MA 02151
New
For Sale
$849,999
Move-in ready two-family with in-unit laundry, two bedrooms per unit, and one unit currently leased through Dec. 31, 2026.
Property Size2,052 SF
Price / SF$414.23
Days on Market2
Property Features for 23 Thorndike St
General Information
- Standard status
- Active
- Size
- 2,052 SF
- Property subtype
- Multi Family Home
Building Details
- Year Built
- 1900
Listing Agency:
Access
(781) 546-5363
Listed By:
Dot Collection
(781) 546-5363
Source:
Housatonicrealestate
Added: Jul 23
Changed: Jul 24
Last Checked: Jul 24 at 7:33AM
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 Access
Investment Insights
Based on property information with market context.
This updated two-family residence offers approximately 2,052 square feet split across two sun-filled units, each with in-unit laundry. Both units provide two bedrooms and an updated full bath, with open layouts and separation between bedrooms for added privacy.
Unit 1 has had recent improvements including new windows and a heating system, along with hardwood floors and granite countertops. Unit 2 is in immaculate condition and features a balcony that opens to a private backyard.
Unit 1 is vacant, while Unit 2 is leased through Dec. 31, 2026. The property is located in a quiet neighborhood just minutes from Revere Beach and the Blue Line, providing convenient access for commuters.
Unit 1 has had recent improvements including new windows and a heating system, along with hardwood floors and granite countertops. Unit 2 is in immaculate condition and features a balcony that opens to a private backyard.
Unit 1 is vacant, while Unit 2 is leased through Dec. 31, 2026. The property is located in a quiet neighborhood just minutes from Revere Beach and the Blue Line, providing convenient access for commuters.
Key Highlights
- Updated move‑in ready 2‑family with 2,052 SF total across two units
- Each unit features in‑unit laundry and 2 bedrooms with an updated full bath
- Unit 1 recent updates include new windows and heating system, plus hardwood floors and granite countertops; unit 1 is vacant
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 4.60%
Second Best
Apartment 5plus
$509.2K
$445.6K – $594.1K
NOI $35,646 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$1.21M
$1.06M – $1.42M
NOI $85,034 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Move-in ready two-family with in-unit laundry, two bedrooms per unit, and one unit currently leased through Dec. 31, 2026.
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 $849,999.
What are key features of this property?
This property features: Updated move‑in ready 2‑family with 2,052 SF total across two units; Each unit features in‑unit laundry and 2 bedrooms with an updated full bath; Unit 1 recent updates include new windows and heating system, plus hardwood floors and granite countertops; unit 1 is vacant
