Split-Level Duplex with Enclosed
New
For Sale
$859,900
92 Newman St, Revere, MA 02151
Two-family residence with separate living areas, kitchens, sunroom, enclosed yard, and walk-out utility space.
Property Size2,510 SF
Days on Market3
Property Features for 92 Newman St
General Information
Standard status
Active
Size
2,510 SF
Property subtype
Investment
Additional Details
Asking Price
$859,900
Public Transit
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,579
Amenities
fireplace
sunroom
enclosed yard
Building Details
Building Size
2,510 SF
Year Built
1969
Stories
3
Units
2
Listing Agency:
(617) 733-0000
Listed By:
Craig Neil
(617) 733-0000
Source:
Elliman
Added: Aug 20
Changed: Aug 21
Last Checked: Aug 22 at 12:22PM
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 Craig Neil
Investment Insights
Based on property information with market context.
This split-level duplex includes 12 rooms, five bedrooms, and two full tile baths across two connected living levels. The main floor features a foyer, fireplace-equipped living room, hardwood flooring, full kitchen with dining area, private sunroom, and three bedrooms with closets. A lower-level arrangement adds a family room, second kitchen and living area, bedroom, full bath, and walk-out utility room. Washer and dryer are included, and the exterior combines custom brick and wood construction.
The property also offers an enclosed yard and two driveways at 92 Newman St in Revere. Built in 1969, the residence provides distinct spaces for the two-family configuration along with flexible lower-level functionality.
The property also offers an enclosed yard and two driveways at 92 Newman St in Revere. Built in 1969, the residence provides distinct spaces for the two-family configuration along with flexible lower-level functionality.
Key Highlights
- Two‑family layout with 12 rooms, 5 bedrooms, and 2 full tile baths
- Main level includes fireplace living room, hardwood floors, kitchen, dining area, and sunroom
- Lower level has a second kitchen‑living area, bedroom, family room, and 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
$47,819
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
5.56%
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%
$956,380
$956.4K
Cap Rate 7%
$683,129
$683.1K
Cap Rate 9%
$531,322
$531.3K
Market Conditions
NOI Build-Up for 2,510 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
$72.3K $28.80/SF
− Vacancy
−$4.0K −$1.58/SF
EGI
$68.3K $27.22/SF
− OpEx
−$20.5K −$8.16/SF
NOI
$47.8K $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%
$956,380
Cap Rate 7%
$683,129
Cap Rate 9%
$531,322
Alternative Uses
Best Use
Multifamily LT 5
$683.1K
$597.7K – $797.0K
NOI $47,819 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$622.9K
$545.0K – $726.7K
NOI $43,602 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$1.49M
$1.30M – $1.73M
NOI $104,014 @ 7.0% cap · market cap 12.10%
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
829
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 - Two-family residence with separate living areas, kitchens, sunroom, enclosed yard, and walk-out utility space.
Where is this duplex located?
The property is located at 92 Newman St Revere, MA.
What is the asking price?
The asking price for this property is $859,900.
What are key features of this property?
This property features: Two‑family layout with 12 rooms, 5 bedrooms, and 2 full tile baths; Main level includes fireplace living room, hardwood floors, kitchen, dining area, and sunroom; Lower level has a second kitchen‑living area, bedroom, family room, and full bath
