Renovated Duplex
For Sale
$1,200,000
1684 N Shore Road, Revere, MA 02151
Two residential units offer four bedrooms and two full bathrooms apiece.
Property Size3,793 SF
Price / SF$316.37
Days on Market8
Property Features for 1684 N Shore Road
General Information
Standard status
Active
Size
3,793 SF
Property subtype
Multi-family
Lease Term
[]
Units
Unit Mix
2 x 4BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
central AC
in-building laundry
on-demand hot water heaters
Building Details
Year Built
1920
Buildings
1
Abandoned
No
Listing Agency:
EVO Real Estate Group,LLC
Listed By:
Corey Moy
(617) 262-6200
Source:
Cabotandcompany
Added: Aug 2
Changed: Aug 9
Last Checked: Aug 9 at 6:19AM
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 EVO Real Estate Group,LLC
Investment Insights
Based on property information with market context.
This duplex property contains two residential units, each with four bedrooms and two full bathrooms. The interior has undergone a gut renovation and includes central AC, in-building laundry, and on-demand hot water heaters. Driveway parking is also provided.
Built in 1920, the property is located on North Shore Road in Revere. Beaches, public transportation, and shopping are nearby, adding convenient access to everyday amenities and area destinations.
Built in 1920, the property is located on North Shore Road in Revere. Beaches, public transportation, and shopping are nearby, adding convenient access to everyday amenities and area destinations.
Key Highlights
- Two residential units, each with 4 bedrooms and 2 full bathrooms
- Gut‑renovated interior with central AC in both units
- In‑building laundry and on‑demand hot water heaters
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
$72,261
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
6.02%
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%
$1,445,220
$1.4M
Cap Rate 7%
$1,032,300
$1.0M
Cap Rate 9%
$802,900
$802.9K
Market Conditions
NOI Build-Up for 3,793 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
$109.2K $28.80/SF
− Vacancy
−$6.0K −$1.58/SF
EGI
$103.2K $27.22/SF
− OpEx
−$31.0K −$8.16/SF
NOI
$72.3K $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%
$1,445,220
Cap Rate 7%
$1,032,300
Cap Rate 9%
$802,900
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$903.3K – $1.20M
NOI $72,261 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$941.3K
$823.6K – $1.10M
NOI $65,889 @ 7.0% cap · market cap 5.49%
Theoretical Best
Office A
$2.25M
$1.96M – $2.62M
NOI $157,181 @ 7.0% cap · market cap 13.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
771
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 residential units offer four bedrooms and two full bathrooms apiece.
Where is this duplex located?
The property is located at 1684 N Shore Road Revere, MA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two residential units, each with 4 bedrooms and 2 full bathrooms; Gut‑renovated interior with central AC in both units; In‑building laundry and on‑demand hot water heaters
