Duplex with Two
New
For Sale
$999,999
22 Pitcairn St, Revere, MA 02151
Spacious two-family property with a separate driveway for each unit, a two-bedroom income-producing unit, and substantial outdoor space.
Property Size4,074 SF
Lot Size0.20 Acres
Days on Market2
Property Features for 22 Pitcairn St
General Information
Standard status
Active
Size
4,074 SF
Total Parking Spaces
4
Lot size
0.20 Acres
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,829
Amenities
built-in bar
sauna
attic
basement
backyard
Building Details
Building Size
4,074 SF
Year Built
1958
Buildings
1
Listing Agency:
Century 21 North East
Listed By:
Brian Averback
(978) 836-2745
Source:
Classifiedrealtygroup
Added: Sep 12
Last Checked: Sep 13 at 5:42AM
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.
Located at 22 Pitcairn St in Revere, this 1958 duplex offers over 4,000 square feet of living space on approximately 0.20 acres. The property includes two residential units, with one updated two-bedroom unit identified as income-producing. Each unit has its own driveway, providing dedicated off-street parking and added separation between the residences.
Interior features include a built-in bar with a sink and refrigerator, along with a sauna. An attic and large basement add storage and functional space, while the expansive backyard extends the property’s usable area outdoors. The combination of a two-family layout, substantial living area, dedicated driveways, and additional interior and exterior space supports a range of residential income and occupancy strategies.
Interior features include a built-in bar with a sink and refrigerator, along with a sauna. An attic and large basement add storage and functional space, while the expansive backyard extends the property’s usable area outdoors. The combination of a two-family layout, substantial living area, dedicated driveways, and additional interior and exterior space supports a range of residential income and occupancy strategies.
Key Highlights
- Over 4,000 square feet of living space on approximately 0.20 acres
- Two‑family duplex with one updated, income‑producing 2‑bedroom unit
- Two driveways, with one designated for each unit
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
$77,615
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
7.76%
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%
$1,552,300
$1.6M
Cap Rate 7%
$1,108,786
$1.1M
Cap Rate 9%
$862,389
$862.4K
Market Conditions
NOI Build-Up for 4,074 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
$117.3K $28.80/SF
− Vacancy
−$6.5K −$1.58/SF
EGI
$110.9K $27.22/SF
− OpEx
−$33.3K −$8.16/SF
NOI
$77.6K $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%
$1,552,300
Cap Rate 7%
$1,108,786
Cap Rate 9%
$862,389
Alternative Uses
Best Use
Multifamily LT 5
$1.11M
$970.2K – $1.29M
NOI $77,615 @ 7.0% cap · market cap 7.76%
Second Best
Apartment 5plus
$1.01M
$884.6K – $1.18M
NOI $70,770 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$2.41M
$2.11M – $2.81M
NOI $168,826 @ 7.0% cap · market cap 16.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
879
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Spacious two-family property with a separate driveway for each unit, a two-bedroom income-producing unit, and substantial outdoor space.
Where is this duplex located?
The property is located at 22 Pitcairn St Revere, MA.
What is the asking price?
The asking price for this property is $999,999.
What are key features of this property?
This property features: Over 4,000 square feet of living space on approximately 0.20 acres; Two‑family duplex with one updated, income‑producing 2‑bedroom unit; Two driveways, with one designated for each unit
