Updated Two-Family
For Sale
$1,025,000
59 Walnut Street, Revere, MA 02151
Duplex with separate utilities, outdoor living areas, storage, and off-street parking in a quiet residential setting.
Property Size2,594 SF
Price / SF$395.14
Days on Market9
Property Features for 59 Walnut Street
General Information
Standard status
Active
Size
2,594 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Amenities
front porch
rear deck
bonus room
granite countertops
stainless steel appliances
separate washer/dryer
separate utilities
attic
basement
outdoor shed
off-street parking
Building Details
Year Built
2000
Listing Agency:
Chris Remmes, Remmes & Co
(978) 658-8828
Listed By:
Team Blue
(978) 658-8828
Source:
Northofbostonhome
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 28 at 10:15AM
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 Chris Remmes, Remmes & Co
Investment Insights
Based on property information with market context.
Built in 2000, this 2,594-square-foot duplex contains two distinct living spaces with separately metered utilities. The larger unit has an open kitchen, dining, and living arrangement, along with granite counters and stainless steel appliances. A lower-level bonus room provides flexible space for use as a bedroom, office, or family room. The second unit includes stainless steel appliances and its own washer and dryer.
Outdoor features include a front porch, rear deck, mature trees, an outdoor shed, and off-street parking. The property sits at the end of a dead-end street in West Revere, with direct access to an express bus to Boston and views extending toward Revere Beach on clear days. A large attic and basement add substantial storage and may support future expansion or customization subject to required approvals and permits.
Outdoor features include a front porch, rear deck, mature trees, an outdoor shed, and off-street parking. The property sits at the end of a dead-end street in West Revere, with direct access to an express bus to Boston and views extending toward Revere Beach on clear days. A large attic and basement add substantial storage and may support future expansion or customization subject to required approvals and permits.
Key Highlights
- 2,594 SF duplex built in 2000
- Two separate living spaces with separately metered utilities
- Owner's unit features an open layout, granite counters, and stainless steel appliances
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
$49,419
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
4.82%
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%
$988,380
$988.4K
Cap Rate 7%
$705,986
$706.0K
Cap Rate 9%
$549,100
$549.1K
Market Conditions
NOI Build-Up for 2,594 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
$74.7K $28.80/SF
− Vacancy
−$4.1K −$1.58/SF
EGI
$70.6K $27.22/SF
− OpEx
−$21.2K −$8.16/SF
NOI
$49.4K $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%
$988,380
Cap Rate 7%
$705,986
Cap Rate 9%
$549,100
Alternative Uses
Best Use
Multifamily LT 5
$706.0K
$617.7K – $823.7K
NOI $49,419 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$643.7K
$563.3K – $751.0K
NOI $45,061 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office A
$1.54M
$1.34M – $1.79M
NOI $107,495 @ 7.0% cap · market cap 10.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
453
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 - Duplex with separate utilities, outdoor living areas, storage, and off-street parking in a quiet residential setting.
Where is this duplex located?
The property is located at 59 Walnut Street Revere, MA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 2,594 SF duplex built in 2000; Two separate living spaces with separately metered utilities; Owner's unit features an open layout, granite counters, and stainless steel appliances
