Two-Family Corner
For Sale
$649,900
Pending
74 Revere Street, Revere, MA 02151
Converted two-family home with a studio first-floor unit and a three-bedroom second-floor unit, plus separate utility metering.
Property Size2,285 SF
Days on Market54
Property Features for 74 Revere Street
General Information
Standard status
Pending
Size
2,285 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Susan Ferri, Chinatti Realty Group, Inc
Listed By:
Nancy Hurley
(781) 214-0902
Source:
Massneighborhoods
Added: Jul 19
Changed: Sep 9
Last Checked: Sep 10 at 6:30AM
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 Susan Ferri, Chinatti Realty Group, Inc
Investment Insights
Based on property information with market context.
This converted corner residence was originally built in 1900 and arranged as a two-family property. The first-floor unit features a studio layout with a kitchen and a full bath. The second unit offers three bedrooms, a spacious living area, a kitchen, and a full bath.
The property is located at the corner of Revere Street and Oxford Park, with proximity to Revere Beach and nearby restaurants, shopping, schools, and public transportation.
Utilities are separately metered for the two units, with two electric meters, one gas meter, one heating system, one hot water tank, and one water meter.
The property is located at the corner of Revere Street and Oxford Park, with proximity to Revere Beach and nearby restaurants, shopping, schools, and public transportation.
Utilities are separately metered for the two units, with two electric meters, one gas meter, one heating system, one hot water tank, and one water meter.
Key Highlights
- Converted two‑family home built in 1900 with a studio first‑floor unit and a three‑bedroom second‑floor unit
- First‑floor unit includes a studio layout with kitchen and a full bath
- Second‑floor unit offers three bedrooms, a spacious living area, kitchen, and a full 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
$43,532
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
6.70%
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%
$870,640
$870.6K
Cap Rate 7%
$621,886
$621.9K
Cap Rate 9%
$483,689
$483.7K
Market Conditions
NOI Build-Up for 2,285 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
$65.8K $28.80/SF
− Vacancy
−$3.6K −$1.58/SF
EGI
$62.2K $27.22/SF
− OpEx
−$18.7K −$8.16/SF
NOI
$43.5K $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%
$870,640
Cap Rate 7%
$621,886
Cap Rate 9%
$483,689
Alternative Uses
Best Use
Multifamily LT 5
$621.9K
$544.2K – $725.5K
NOI $43,532 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$567.0K
$496.2K – $661.6K
NOI $39,693 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,690 @ 7.0% cap · market cap 14.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,421
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Converted two-family home with a studio first-floor unit and a three-bedroom second-floor unit, plus separate utility metering.
Where is this duplex located?
The property is located at 74 Revere Street Revere, MA.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Converted two‑family home built in 1900 with a studio first‑floor unit and a three‑bedroom second‑floor unit; First‑floor unit includes a studio layout with kitchen and a full bath; Second‑floor unit offers three bedrooms, a spacious living area, kitchen, and a full bath
