Building Details

Building Size 2,376 SF

Year Built 1920

Buildings 1

Stories 3

Listing Agency: Pena Realty Corporation Show Phone

Listed By: Lucien Nere Show Phone

Source: Churchillprop

Added: Jul 30 Changed: Oct 6 Last Checked: Oct 14 at 9:06PM

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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 Pena Realty Corporation

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Investment Insights

Based on property information with market context.

This 2,376-square-foot duplex at 38 Revere in Everett was built in 1920 and contains two residential units. Each unit has its own meter, while the heating systems serving both units are 5 years old.

The property provides access to Rte 99 and Rte 28 and is near major shopping centers, schools, and supermarkets. Encore Casino is approximately 2 miles away, adding a notable nearby destination to the surrounding commercial and entertainment context.

Key Highlights

• 2,376‑square‑foot duplex in Everett
• Two residential units, each with its own meter
• Heating systems for both units are 5 years old

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,277

Cap Rate

5.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,005,540 $1.0M

Cap Rate 7%

$718,243 $718.2K

Cap Rate 9%

$558,633 $558.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,376 SF

Gross rent

$75.6K $31.80/SF

− Vacancy

−$3.7K −$1.57/SF

EGI

$71.8K $30.23/SF

− OpEx

−$21.5K −$9.07/SF

NOI

$50.3K $21.16/SF

Area

Middlesex County, MA

Vacancy

4.94%

Lease Rate

$31.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,005,540

Cap Rate 7%

$718,243

Cap Rate 9%

$558,633

Alternative Uses

Best Use

Multifamily LT 5

$718.2K

$628.5K – $838.0K (±1% cap)

NOI $50,277 @ 7.0% cap · market cap 5.03%

Second Best

Apartment 5plus

$675.3K

$590.9K – $787.9K (±1% cap)

NOI $47,274 @ 7.0% cap · market cap 4.73%

Theoretical Best

Office A

$1.41M

$1.23M – $1.64M (±1% cap)

NOI $98,461 @ 7.0% cap · market cap 9.85%

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 Parking Lot & Garage Acupuncture (Bike/Boat/Book/etc) Store Tech Support Center Catering Service Real Estate Agency

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

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

1,870

Businesses Nearby

Explore this area Business Placement

Demographics for 02149, MA

49,075

Population

18,541

Households

2.6

Avg Household Size

35

Median Age

23%

College-Educated

80%

High-School Grad

3.4 sq mi

ZIP Area

14,434

Density / Sq Mi

$79,658

Median Household Income

$40,836

Median Earnings

$1,988

Median Rent

$605,200

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-unit property with individual metering and heating systems installed 5 years ago.

Where is this duplex located?

The property is located at 38 Revere Everett, 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: 2,376‑square‑foot duplex in Everett; Two residential units, each with its own meter; Heating systems for both units are 5 years old