Updated Two-Family
For Sale
$930,000
47-49 George Ave, Revere, MA 02151
Beachmont duplex with a renovated lower unit, private storage sheds, and convenient access to transit and nearby recreation.
Property Size2,341 SF
Price / SF$397.27
Days on Market62
Property Features for 47-49 George Ave
General Information
Standard status
Active
Size
2,341 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Zoning
Two-family
Taxes and HOA fees
Annual Taxes
$5,338
Building Details
Building Size
2,341 SF
Year Built
1939
Stories
2
Listing Agency:
J.M.I. Investment Properties
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jul 2
Changed: Aug 30
Last Checked: Aug 31 at 12:56PM
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 J.M.I. Investment Properties
Investment Insights
Based on property information with market context.
Built in 1939, this 2,341-square-foot duplex includes two separate residential units within a two-family layout. The first-floor residence has undergone interior improvements, including a remodeled kitchen, three bedrooms, and two bathrooms. The upper unit provides three bedrooms and one bathroom. Exterior and mechanical updates include new siding and gutters in 2022, a roof replacement in 2020, and replacement of the gas heating system and water tank; the replacement year for those systems is not specified. Solar panels are installed on the roof but are currently disconnected.
The property includes a small backyard with two sheds and a one-car driveway. It is located on George Ave in Revere’s Beachmont area, near Louis Pasteur Park, Revere Beach, the MBTA Blue Line, and approximately 4 miles from Logan Airport. Zoning is Two-family. The property is offered in as-is condition as part of an estate sale.
The property includes a small backyard with two sheds and a one-car driveway. It is located on George Ave in Revere’s Beachmont area, near Louis Pasteur Park, Revere Beach, the MBTA Blue Line, and approximately 4 miles from Logan Airport. Zoning is Two-family. The property is offered in as-is condition as part of an estate sale.
Key Highlights
- Duplex totaling 2,341 SF with two residential units
- Lower unit includes 3 bedrooms, 2 baths, and a remodeled kitchen
- Upper unit offers 3 bedrooms and 1 bath
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
$44,599
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
4.80%
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%
$891,980
$892.0K
Cap Rate 7%
$637,129
$637.1K
Cap Rate 9%
$495,544
$495.5K
Market Conditions
NOI Build-Up for 2,341 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
$67.4K $28.80/SF
− Vacancy
−$3.7K −$1.58/SF
EGI
$63.7K $27.22/SF
− OpEx
−$19.1K −$8.16/SF
NOI
$44.6K $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%
$891,980
Cap Rate 7%
$637,129
Cap Rate 9%
$495,544
Alternative Uses
Best Use
Multifamily LT 5
$637.1K
$557.5K – $743.3K
NOI $44,599 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$580.9K
$508.3K – $677.8K
NOI $40,666 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,010 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
301
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 - Beachmont duplex with a renovated lower unit, private storage sheds, and convenient access to transit and nearby recreation.
Where is this duplex located?
The property is located at 47-49 George Ave Revere, MA.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Duplex totaling 2,341 SF with two residential units; Lower unit includes 3 bedrooms, 2 baths, and a remodeled kitchen; Upper unit offers 3 bedrooms and 1 bath
