Classic Multifamily
For Sale
$899,950
83 Calumet, Revere, MA 02151
Built in 1900, this expansive multifamily home offers a classic character and convenient access to Revere Beach and transit.
Property Size3,809 SF
Price / SF$236.27
Days on Market141
Property Features for 83 Calumet
General Information
Standard status
Active
Size
3,809 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Building Details
Year Built
1900
Tenancy
Multi
Listing Agency:
Charlesgate Realty Group, llc
(617) 799-4228
Listed By:
Pedro Cordano · License #9026246
(617) 799-4228
Source:
Lockandkeyre
Added: Apr 6
Changed: Aug 23
Last Checked: Aug 24 at 6:11AM
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 Charlesgate Realty Group, llc
Investment Insights
Based on property information with market context.
This for-sale multifamily residence blends classic character dating to 1900 with an expansive layout. The property is described as supporting a desirable, coastal-focused lifestyle, with a distinguished, long-lasting home profile.
Conveniently located within walking distance to Revere Beach and the Wonderland Blue Line T Station, the home also sits close to shopping and offers easy access to Boston and State Highways.
Details for unit configuration, amenities, or condition are not provided in the available information. The first opportunity to view will be during the scheduled open house on Sunday, April 12 from 12:00 noon to 1:00 pm.
Conveniently located within walking distance to Revere Beach and the Wonderland Blue Line T Station, the home also sits close to shopping and offers easy access to Boston and State Highways.
Details for unit configuration, amenities, or condition are not provided in the available information. The first opportunity to view will be during the scheduled open house on Sunday, April 12 from 12:00 noon to 1:00 pm.
Key Highlights
- Built in 1900 with classic character and expansive layout
- Multifamily home with 2 total baths (2 full baths)
- Hardwood flooring and insulated windows
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
$72,566
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
8.06%
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%
$1,451,320
$1.5M
Cap Rate 7%
$1,036,657
$1.0M
Cap Rate 9%
$806,289
$806.3K
Market Conditions
NOI Build-Up for 3,809 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
$109.7K $28.80/SF
− Vacancy
−$6.0K −$1.58/SF
EGI
$103.7K $27.22/SF
− OpEx
−$31.1K −$8.16/SF
NOI
$72.6K $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%
$1,451,320
Cap Rate 7%
$1,036,657
Cap Rate 9%
$806,289
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.1K – $1.21M
NOI $72,566 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$945.2K
$827.1K – $1.10M
NOI $66,167 @ 7.0% cap · market cap 7.35%
Theoretical Best
Office A
$2.25M
$1.97M – $2.63M
NOI $157,844 @ 7.0% cap · market cap 17.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
566
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 - Built in 1900, this expansive multifamily home offers a classic character and convenient access to Revere Beach and transit.
Where is this duplex located?
The property is located at 83 Calumet Revere, MA.
What is the asking price?
The asking price for this property is $899,950.
What are key features of this property?
This property features: Built in 1900 with classic character and expansive layout; Multifamily home with 2 total baths (2 full baths); Hardwood flooring and insulated windows
