Updated Two-Family
For Sale
$799,000
116 Derby Rd, Revere, MA 02151
Two leased units offer distinct layouts, shared outdoor space, in-unit laundry, and full-basement storage.
Property Size1,878 SF
Price / SF$425.45
Days on Market69
Property Features for 116 Derby Rd
General Information
Standard status
Active
Size
1,878 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
RB
Net Operating Income
$63,600
Units
Unit Mix
1 x 2BR, 1 x 1BR+office
Multifamily Units
2
Additional Details
Gross Income
$64,800
Taxes and HOA fees
Annual Taxes
$5,987
Amenities
in-unit laundry
shared back deck and yard
full-size basement
Building Details
Building Size
1,878 SF
Year Built
1929
Stories
2
Listing Agency:
REMAX Executive Realty
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 25
Changed: Aug 31
Last Checked: Aug 31 at 1:23PM
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 Executive Realty
Investment Insights
Based on property information with market context.
This 1,878-square-foot duplex, built in 1929, includes two separate residential units and a full-size basement for storage. The first-floor unit offers two bedrooms, an updated kitchen with granite countertops completed in 2019, in-unit laundry, and access to a shared rear deck and yard. Upstairs, the second unit includes one bedroom, an office that may be used as a bedroom subject to applicable requirements, and kitchens and bathroom renovations completed in 2022. A 200 Amp electric panel was installed in 2023.
The property is located at 116 Derby Rd, Revere, MA 02151, and is zoned RB. Both units have leases in place: the first-floor lease has 12 months remaining through July 2027, while the second-floor lease has 11 months remaining through June 2027. The property also includes a double lot, with possible ADU development subject to buyer verification of zoning and buildability.
The property is located at 116 Derby Rd, Revere, MA 02151, and is zoned RB. Both units have leases in place: the first-floor lease has 12 months remaining through July 2027, while the second-floor lease has 11 months remaining through June 2027. The property also includes a double lot, with possible ADU development subject to buyer verification of zoning and buildability.
Key Highlights
- Two‑family duplex with 1,878 square feet, built in 1929
- First‑floor 2‑bedroom unit with 2019 kitchen update, granite countertops, and in‑unit laundry
- Second‑floor unit includes 1 bedroom and 1 office, with kitchen and bathroom renovations completed in 2022
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
$35,778
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
4.48%
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%
$715,560
$715.6K
Cap Rate 7%
$511,114
$511.1K
Cap Rate 9%
$397,533
$397.5K
Market Conditions
NOI Build-Up for 1,878 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
$54.1K $28.80/SF
− Vacancy
−$3.0K −$1.58/SF
EGI
$51.1K $27.22/SF
− OpEx
−$15.3K −$8.16/SF
NOI
$35.8K $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%
$715,560
Cap Rate 7%
$511,114
Cap Rate 9%
$397,533
Alternative Uses
Best Use
Multifamily LT 5
$511.1K
$447.2K – $596.3K
NOI $35,778 @ 7.0% cap · market cap 4.48%
Second Best
Apartment 5plus
$466.0K
$407.8K – $543.7K
NOI $32,623 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$1.11M
$972.8K – $1.30M
NOI $77,824 @ 7.0% cap · market cap 9.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
691
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two leased units offer distinct layouts, shared outdoor space, in-unit laundry, and full-basement storage.
Where is this duplex located?
The property is located at 116 Derby Rd Revere, MA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑family duplex with 1,878 square feet, built in 1929; First‑floor 2‑bedroom unit with 2019 kitchen update, granite countertops, and in‑unit laundry; Second‑floor unit includes 1 bedroom and 1 office, with kitchen and bathroom renovations completed in 2022
