Three-Unit Residential Income
For Sale
$1,100,000
46 Revere Street, Everett, MA 02149
Freshly updated two-family with a finished third-floor bedroom and full bath, plus detached garage, off-street parking, and fenced yard.
Property Size2,800 SF
Price / SF$392.86
Days on Market19
Property Features for 46 Revere Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Keller Williams Realty Signature Properties
Listed By:
Matthew Langlois
(978) 922-3683
Source:
Jbarrettrealty
Added: Jul 22
Changed: Aug 7
Last Checked: Aug 8 at 3:51PM
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 Keller Williams Realty Signature Properties
Investment Insights
Based on property information with market context.
This freshly updated two-family residential income property offers flexible living and rental options, with both units delivered vacant. Recent improvements include brand-new kitchens with appliances, new flooring, updated bathrooms, recessed lighting, and fresh interior paint throughout. Additional building upgrades include a newer roof from 2020, as well as new boilers and water heaters from 2022.
The expansive third floor includes a spacious bedroom and a full bath, adding practical extra living space. Outside, the property offers a detached garage, off-street parking, and a fenced backyard.
The combination of updated interiors and functional outdoor space makes this a turnkey option for an owner-occupant or investor seeking immediate occupancy potential.
The expansive third floor includes a spacious bedroom and a full bath, adding practical extra living space. Outside, the property offers a detached garage, off-street parking, and a fenced backyard.
The combination of updated interiors and functional outdoor space makes this a turnkey option for an owner-occupant or investor seeking immediate occupancy potential.
Key Highlights
- Freshly updated two‑family with both units delivered vacant—set market rents or move in
- Brand‑new kitchens with appliances, updated baths, new flooring, recessed lighting, and freshly painted interiors
- Third floor adds a spacious bedroom with a full bath for extra living/versatility
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
$59,249
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
5.39%
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%
$1,184,980
$1.2M
Cap Rate 7%
$846,414
$846.4K
Cap Rate 9%
$658,322
$658.3K
Market Conditions
NOI Build-Up for 2,800 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
$89.0K $31.80/SF
− Vacancy
−$4.4K −$1.57/SF
EGI
$84.6K $30.23/SF
− OpEx
−$25.4K −$9.07/SF
NOI
$59.2K $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 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%
$1,184,980
Cap Rate 7%
$846,414
Cap Rate 9%
$658,322
Alternative Uses
Best Use
Multifamily LT 5
$846.4K
$740.6K – $987.5K
NOI $59,249 @ 7.0% cap · market cap 5.39%
Second Best
Apartment 5plus
$795.9K
$696.4K – $928.5K
NOI $55,711 @ 7.0% cap · market cap 5.06%
Theoretical Best
Office A
$1.66M
$1.45M – $1.93M
NOI $116,031 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Freshly updated two-family with a finished third-floor bedroom and full bath, plus detached garage, off-street parking, and fenced yard.
Where is this duplex located?
The property is located at 46 Revere Street Everett, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Freshly updated two‑family with both units delivered vacant—set market rents or move in; Brand‑new kitchens with appliances, updated baths, new flooring, recessed lighting, and freshly painted interiors; Third floor adds a spacious bedroom with a full bath for extra living/versatility
