Two-Family Residential Income
For Sale
$849,900
Pending
24 True St, Revere, MA 02151
Two-unit duplex with a three-bedroom first floor and a vacant second floor featuring two bedrooms plus flexible third-room option.
Property Size2,240 SF
Days on Market149
Property Features for 24 True St
General Information
Standard status
Pending
Size
2,240 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,213
Building Details
Building Size
2,240 SF
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Batterymarch Street
Listed By:
Richard Peterson · License #9510650
(617) 888-5153
Source:
Elliman
Added: Jun 4
Changed: Oct 25
Last Checked: Oct 28 at 9:37AM
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 Batterymarch Street
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Investment Insights
Based on property information with market context.
This two-family residential income property includes a first-floor unit currently configured as three bedrooms. The second-floor unit will be vacant and offers two bedrooms plus a flexible room off the main entry that could serve as a third bedroom. The home also includes a good-sized yard and a spacious driveway.
The property is located near Broadway and Revere High, with bus lines, dining, and city amenities described as just steps away.
For buyers seeking an owner-occupied setup, the layout supports living in one unit while renting the other.
The property is located near Broadway and Revere High, with bus lines, dining, and city amenities described as just steps away.
For buyers seeking an owner-occupied setup, the layout supports living in one unit while renting the other.
Key Highlights
- Two‑family duplex built in 1900 at 24 True Street, Revere
- First‑floor unit is set up as a 3‑bedroom residence
- Second‑floor unit is currently vacant with 2 bedrooms plus a flexible room off the main entry that could serve as a third bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,675
Cap Rate
5.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$853,500
$853.5K
Cap Rate 7%
$609,643
$609.6K
Cap Rate 9%
$474,167
$474.2K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$64.5K $28.80/SF
− Vacancy
−$3.5K −$1.58/SF
EGI
$61.0K $27.22/SF
− OpEx
−$18.3K −$8.16/SF
NOI
$42.7K $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%
$853,500
Cap Rate 7%
$609,643
Cap Rate 9%
$474,167
Alternative Uses
Best Use
Multifamily LT 5
$609.6K
$533.4K – $711.3K
NOI $42,675 @ 7.0% cap · market cap 5.02%
Second Best
Apartment 5plus
$555.9K
$486.4K – $648.5K
NOI $38,911 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,825 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,372
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
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with a three-bedroom first floor and a vacant second floor featuring two bedrooms plus flexible third-room option.
Where is this duplex located?
The property is located at 24 True St Revere, MA.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Two‑family duplex built in 1900 at 24 True Street, Revere; First‑floor unit is set up as a 3‑bedroom residence; Second‑floor unit is currently vacant with 2 bedrooms plus a flexible room off the main entry that could serve as a third bedroom
