Renovated Two-Family
For Sale
$899,999
Pending
72 South Ave, Revere, MA 02151
Recently renovated two-family with central A/C, private entrances, and new major systems replacing electrical, plumbing, and roofing.
Property Size2,006 SF
Days on Market86
Property Features for 72 South Ave
General Information
Standard status
Pending
Size
2,006 SF
Total Parking Spaces
3
Property subtype
Multi Family Home
Zoning
RB
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,699
Building Details
Building Size
2,006 SF
Year Built
1960
Stories
2
Units
2
Listing Agency:
Michelle Kelley Realty, LLC
Listed By:
Michelle Kelley
(781) 854-1717
Source:
Alliancepartnersre
Added: Jun 12
Changed: Aug 8
Last Checked: Jul 23 at 6:48AM
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 Michelle Kelley Realty, LLC
Investment Insights
Based on property information with market context.
This fully renovated two-family residence has been redesigned for contemporary living in each unit. Major systems and components have been replaced, including electrical, plumbing, heating, roofing, insulation, and interior finishes and fixtures. Both units include central A/C. The upper unit features an open-concept living and dining area with high ceilings, recessed lighting, abundant natural light, and an updated kitchen with white shaker cabinetry, stone countertops, stainless-steel appliances, and a large center island with a built-in microwave drawer. It offers three bedrooms, a full bath with a tub, and a separate laundry area.
The lower unit provides a separate, private entrance with no interior access to the upper unit, supporting flexible occupancy. It includes two bedrooms, a 3/4 bath, and its own laundry area.
Conveniently located near shopping, restaurants, public transportation, and major routes, this property benefits from a renovation that incorporates new construction components throughout.
The lower unit provides a separate, private entrance with no interior access to the upper unit, supporting flexible occupancy. It includes two bedrooms, a 3/4 bath, and its own laundry area.
Conveniently located near shopping, restaurants, public transportation, and major routes, this property benefits from a renovation that incorporates new construction components throughout.
Key Highlights
- Two‑family home built in 1960 with central A/C for both units
- Complete renovation with major systems replaced: electrical, plumbing, heating, roofing, insulation, finishes, and fixtures
- Upper unit has an open‑concept layout with 3 bedrooms, a full bath with tub, and a separate laundry area
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
$38,217
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
4.25%
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%
$764,340
$764.3K
Cap Rate 7%
$545,957
$546.0K
Cap Rate 9%
$424,633
$424.6K
Market Conditions
NOI Build-Up for 2,006 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
$57.8K $28.80/SF
− Vacancy
−$3.2K −$1.58/SF
EGI
$54.6K $27.22/SF
− OpEx
−$16.4K −$8.16/SF
NOI
$38.2K $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%
$764,340
Cap Rate 7%
$545,957
Cap Rate 9%
$424,633
Alternative Uses
Best Use
Multifamily LT 5
$546.0K
$477.7K – $637.0K
NOI $38,217 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$497.8K
$435.6K – $580.8K
NOI $34,847 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,128 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
950
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 - Recently renovated two-family with central A/C, private entrances, and new major systems replacing electrical, plumbing, and roofing.
Where is this duplex located?
The property is located at 72 South Ave Revere, MA.
What is the asking price?
The asking price for this property is $899,999.
What are key features of this property?
This property features: Two‑family home built in 1960 with central A/C for both units; Complete renovation with major systems replaced: electrical, plumbing, heating, roofing, insulation, finishes, and fixtures; Upper unit has an open‑concept layout with 3 bedrooms, a full bath with tub, and a separate laundry area
