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Building Details

Year Built 1999

Listing Agency: Century 21 North East

Listed By: Nicolas Corteggiano Show Phone

Source: Trufantre

Added: Oct 3 Changed: Oct 15 Last Checked: Oct 14 at 11:57PM

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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 Century 21 North East

Investment Insights

Based on property information with market context.

This 3,156-square-foot duplex was built in 1999 and contains two three-bedroom residences. The first floor received a 2024 remodel with new appliances, and the lower level is finished for additional space. Improvements include a roof installed in 2017, updated electrical, and a newer heating and cooling system. Each residence has separate gas and electric meters, and solar panels are installed on the property.

The corner-lot property includes a two-car garage and off-street parking. A fence and retaining wall were added in 2024. Logan Airport is a five-minute drive away; Route 1, Revere Beach, the Blue Line, and downtown Boston are also nearby.

Key Highlights

• 3,156‑square‑foot duplex built in 1999
• Two residences, each with three bedrooms
• First‑floor remodel and new appliances completed in 2024

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$60,126

Cap Rate

5.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,202,520 $1.2M

Cap Rate 7%

$858,943 $858.9K

Cap Rate 9%

$668,067 $668.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,156 SF

Gross rent

$90.9K $28.80/SF

− Vacancy

−$5.0K −$1.58/SF

EGI

$85.9K $27.22/SF

− OpEx

−$25.8K −$8.16/SF

NOI

$60.1K $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 Rate 5%

$1,202,520

Cap Rate 7%

$858,943

Cap Rate 9%

$668,067

Alternative Uses

Best Use

Multifamily LT 5

$858.9K

$751.6K – $1.00M (±1% cap)

NOI $60,126 @ 7.0% cap · market cap 5.47%

Second Best

Apartment 5plus

$783.2K

$685.3K – $913.7K (±1% cap)

NOI $54,824 @ 7.0% cap · market cap 4.98%

Theoretical Best

Office A

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,784 @ 7.0% cap · market cap 11.89%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Gym & Fitness Center Electrical Service (Bike/Boat/Book/etc) Store Garden Center Computer & Electronic Repair HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,402

Businesses Nearby

Explore this area Business Placement

Demographics for 02151, MA

62,252

Population

23,461

Households

2.7

Avg Household Size

38

Median Age

25%

College-Educated

83%

High-School Grad

5.7 sq mi

ZIP Area

10,921

Density / Sq Mi

$80,948

Median Household Income

$43,374

Median Earnings

$1,964

Median Rent

$566,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two separate gas and electric meters, solar panels, and off-street parking support the property’s two residences.

Where is this duplex located?

The property is located at 1 Franklin Avenue Revere, MA.

What is the asking price?

The asking price for this property is $1,099,900.

What are key features of this property?

This property features: 3,156‑square‑foot duplex built in 1999; Two residences, each with three bedrooms; First‑floor remodel and new appliances completed in 2024