36 Irving St · Revere, MA 02151

$719,900

5 bd · 2.0 ba · 1,989 sqft · MultiFamily public records · 38 Days on market

Built 1949 5,998 sqft lot $362/sqft · 19% below area Est $889k · 19% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +28.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• Livability +3.6/5.0
• Rent growth +3.0/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

OFFER DEADLINE: Any and All offers due Tues 9/26 by NOON. Discover 36 Irving Street, Revere - a 2-family Cape-style home that could be the perfect multi-generational living solution. The upper unit features 4 bedrooms, eat-in kitchen/dining area, a full bath, beautiful hardwood flooring throughout, and a wood-burning fireplace. On the first floor, you'll find 2 bedrooms that could also be used for a home office, exercise room or den. The basement studio unit has a full kitchen, 3/4 bath and washer and dryer. Enjoy time out in the private partially fenced backyard with lovely mature landscaping, and spacious shed. Newer roof, gas boiler, and hot water heater. Such a great location close to restaurants, shopping, public transportation and less than 2 miles from Revere Beach, 10 miles to downtown Boston, and 4 miles to Encore. With city water, sewer, natural gas and off-street parking, this is an exceptional find. Attend the public OH on Saturday, September 23 from 11-1.

Key facts

• Hardwood flooring
• Finished basement
• Recessed lighting

Tags

• FINISHED BASEMENT
• AMPLE YARD SPACE
• HARDWOOD FLOORING
• RECESSED LIGHTING
• WOOD BURNING FIREPLACE
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• HOA & community: Community features include public transportation, shopping, parks, laundromat, highway access, and public schools; Not a senior community

Exterior

• Parking: Open parking available; 4 parking spaces; Paved driveway with off-street and on-street parking
• Utilities: Public water; Public sewer; Gas available for range and dryer; Washer hookup
• Home design: Single family residence; White exterior; Shingle roof; Approximately built (year from public records)
• Construction: Approximately built (year per public records); Shingle roofing
• Exterior features: Storage; Gentle sloping lot; Public road frontage

Interior

• Kitchen: Laminate flooring; Stainless steel appliances; Gas stove
• Bedrooms: Main level bedrooms include 2; Second-floor master bedroom with closet and hardwood flooring; Main/first-level bedrooms feature closets, hardwood flooring, and overhead lighting
• Flooring: Hardwood; Laminate; Tile
• Bathrooms: Two full bathrooms; First-floor full bathroom with stone/ceramic tile flooring and overhead lighting; Basement full bathroom with stone/ceramic tile flooring and closet
• Heating & cooling: Forced air heating; Baseboard heating; Hot water heating; Natural gas; Window cooling units
• Interior features: Mud room; Bonus room; Home office; Recessed lighting; Remodeled areas; 9 total rooms
• Laundry & utility: Laundry in basement (7x12); Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $720k.

Deal economics

• At list price, monthly cash flow is $2k ($28k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($9k rent vs $720k).
• Recommended offer: $698k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.4% in Revere — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#122 in MA) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, employment B+; Watch: schools D+, crime D+, amenities F.
• Revere (suburban): math 19% / reading 37% proficiency, ranked #261 of 302 in MA (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+1.9%/yr); 104 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,207 units permitted in Suffolk County in 2024 (1,961 in 5+ unit buildings).
• At $8,626/mo this rent would consume 119% of the median local household income ($87k/yr) (locally 3586% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $22k of value loss. Plan a longer hold.
• Suffolk County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.9% rent growth), your $202k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($698k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 67% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $698,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 10.12%
• Cash-on-cash: 13.69%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (median comp): $889,468
• List price: $719,900
• Delta: -19.06%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
18 Seaview Ave	0.20mi	4/3.0 (-1)	2,009 (+1%)	5mo	$865,000	$431	76
41 S Irving St	0.15mi	6/2.0 (+1)	2,163 (+9%)	1mo	$875,000	$405	72
379 Fenno St	0.34mi	5/2.0	2,078 (+4%)	6mo	$850,000	$409	71
41 South Ave	0.54mi	5/2.0	1,949 (-2%)	3mo	$950,000	$487	69
109 Arnold St	0.22mi	4/2.0 (-1)	2,208 (+11%)	5mo	$700,000	$317	62
23 Essex St	0.20mi	4/2.0 (-1)	2,256 (+13%)	8mo	$870,000	$386	57
56 Oakwood Ave	0.44mi	4/2.0 (-1)	1,840 (-8%)	9mo	$850,000	$462	54
62 Adams St	0.30mi	4/2.5 (-1)	2,241 (+13%)	6mo	$845,000	$377	53
175 Prospect Ave	0.38mi	4/2.0 (-1)	1,756 (-12%)	10mo	$802,000	$457	50
38 Oakwood Ave	0.47mi	5/2.5	2,230 (+12%)	7mo	$880,000	$395	50
25 Cheever St	0.72mi	4/2.0 (-1)	2,074 (+4%)	8mo	$825,000	$398	48
12 Ridge Rd	0.57mi	6/2.0 (+1)	2,183 (+10%)	7mo	$942,000	$432	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.91% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $20,243
• Equity at exit: $107,339

10-year hold

• IRR: 11.2%
• Equity multiple: 1.83×
• Total profit: $167,965
• Equity at exit: $62,244

Cash invested: $201,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 02151

• Rents YoY: 1.9%
• Active inventory: 104
• Price-to-rent: 15.6×

Monthly cashflow live

• Estimated rent: $8,626 medium
• Mortgage (P&I): −$3,775
• Tax from tax record: −$441 /mo · $5,287/yr
• Insurance: −$300
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,811
• Net cashflow: $2,299

Break-even live

Break-even rent $5,716

Max offer price $719,900

Occupancy floor 68%

Sensitivity live

Price	-10% $2,706	-5% $2,503	+0% $2,299	+5% $2,095	+10% $1,891
Rent	-10% $1,617	-5% $1,958	+0% $2,299	+5% $2,639	+10% $2,980
Rate	-1.0pp $2,661	-0.5pp $2,482	base $2,299	+0.5pp $2,112	+1.0pp $1,922

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	4	1	$3,852
1× unit	2	1	$2,503
1× unit	1	0.75	$2,271
Total (3 units)			$8,626

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $179,975
• Closing costs: $21,597
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
216 Vane St Unit 1 Revere, MA	4.0	2.5	2300	$4,050	$1.76	19d	1	0.21mi
243 Malden St Unit 2 Revere, MA	4.0	3.0	2200	$4,250	$1.93	19d	1	0.61mi
281 Beach St #2 Revere, MA	5.0	2.0	2000	$4,000	$2.00	44d	1	0.91mi
34 Hooper St Unit 2 Chelsea, MA	4.0	1.0	1400	$4,200	$3.00	44d	1	0.94mi
63 Carroll St Unit 2 Chelsea, MA	4.0	1.5	1800	$3,400	$1.89	44d	1	0.95mi
63 Carroll St Unit 2 Chelsea, MA	4.0	1.5	1800	$3,600	$2.00	6d	1	0.95mi
117 Marshall St Revere, MA	4.0	2.5	2620	$4,000	$1.53	44d	1	1.03mi
10 Forsyth St Chelsea, MA	1.0–4.0	1.0–2.0	1176	$2,878	$2.45	6d	3	1.11mi
54 Hillside Ave Unit 2 Everett, MA	4.0	1.0	2444	$3,200	$1.31	6d	1	1.30mi
26 Arlington St #2 Everett, MA	4.0	2.0	2500	$3,700	$1.48	25d	1	1.31mi
20 Fairmount St Unit 2 Everett, MA	5.0	1.0	1400	$3,500	$2.50	44d	1	1.32mi
42 Elmwood St Revere, MA	5.0	3.0	2500	$4,950	$1.98	44d	1	1.35mi
32 Irving St Unit 1 Everett, MA	4.0	2.0	1500	$4,500	$3.00	25d	1	1.36mi
64 Francis St Unit 1 Revere, MA	4.0	2.5	2500	$5,500	$2.20	44d	1	1.37mi
33 George St Unit 2 Everett, MA	4.0	1.0	1560	$3,400	$2.18	44d	1	1.39mi
95 Waverly Ave Unit 2 Everett, MA	5.0	2.0	1800	$4,199	$2.33	44d	1	1.43mi
9 Rock Valley Ave Everett, MA	4.0	3.0	1394	$3,895	$2.79	25d	1	1.43mi
9 Rock Valley Ave Everett, MA	4.0	3.0	1586	$3,895	$2.46	19d	1	1.43mi
9 Rock Valley Ave Everett, MA	4.0	3.0	1586	$3,995	$2.52	44d	1	1.43mi

Listing history 9 events

1. 2026-06-04
   days on market $719,900 Active 38 DOM
2. 2026-06-03
   days on market $719,900 Active 37 DOM
3. 2026-06-02
   days on market $719,900 Active 36 DOM
4. 2026-06-01
   days on market $719,900 Active 35 DOM
5. 2026-05-31
   days on market $719,900 Active 34 DOM
6. 2026-04-27
   listed $719,900 New 941-char remark
7. 2023-11-08
   soldstatus $647,000 Sold 982-char remark

   Show marketing remark (982 chars)

   OFFER DEADLINE: Any and All offers due Tues 9/26 by NOON. Discover 36 Irving Street, Revere - a 2-family Cape-style home that could be the perfect multi-generational living solution. The upper unit features 4 bedrooms, eat-in kitchen/dining area, a full bath, beautiful hardwood flooring throughout, and a wood-burning fireplace. On the first floor, you'll find 2 bedrooms that could also be used for a home office, exercise room or den. The basement studio unit has a full kitchen, 3/4 bath and washer and dryer. Enjoy time out in the private partially fenced backyard with lovely mature landscaping, and spacious shed. Newer roof, gas boiler, and hot water heater. Such a great location close to restaurants, shopping, public transportation and less than 2 miles from Revere Beach, 10 miles to downtown Boston, and 4 miles to Encore. With city water, sewer, natural gas and off-street parking, this is an exceptional find. Attend the public OH on Saturday, September 23 from 11-1.

8. 2023-09-27
   status Under Agreement 982-char remark

   Show marketing remark (982 chars)

   OFFER DEADLINE: Any and All offers due Tues 9/26 by NOON. Discover 36 Irving Street, Revere - a 2-family Cape-style home that could be the perfect multi-generational living solution. The upper unit features 4 bedrooms, eat-in kitchen/dining area, a full bath, beautiful hardwood flooring throughout, and a wood-burning fireplace. On the first floor, you'll find 2 bedrooms that could also be used for a home office, exercise room or den. The basement studio unit has a full kitchen, 3/4 bath and washer and dryer. Enjoy time out in the private partially fenced backyard with lovely mature landscaping, and spacious shed. Newer roof, gas boiler, and hot water heater. Such a great location close to restaurants, shopping, public transportation and less than 2 miles from Revere Beach, 10 miles to downtown Boston, and 4 miles to Encore. With city water, sewer, natural gas and off-street parking, this is an exceptional find. Attend the public OH on Saturday, September 23 from 11-1.

9. 2023-09-20
   listed $649,000 New 982-char remark

   Show marketing remark (982 chars)

   OFFER DEADLINE: Any and All offers due Tues 9/26 by NOON. Discover 36 Irving Street, Revere - a 2-family Cape-style home that could be the perfect multi-generational living solution. The upper unit features 4 bedrooms, eat-in kitchen/dining area, a full bath, beautiful hardwood flooring throughout, and a wood-burning fireplace. On the first floor, you'll find 2 bedrooms that could also be used for a home office, exercise room or den. The basement studio unit has a full kitchen, 3/4 bath and washer and dryer. Enjoy time out in the private partially fenced backyard with lovely mature landscaping, and spacious shed. Newer roof, gas boiler, and hot water heater. Such a great location close to restaurants, shopping, public transportation and less than 2 miles from Revere Beach, 10 miles to downtown Boston, and 4 miles to Encore. With city water, sewer, natural gas and off-street parking, this is an exceptional find. Attend the public OH on Saturday, September 23 from 11-1.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $5,287 · $441/mo
• Projected year-2 tax: $7,071 · $589/mo
• Expected delta: +$1,784/yr (+$149/mo · 33.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 67% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $103,512
• − Mortgage interest: −$40,326
• − Property taxes: −$5,287
• − Insurance: −$3,600
• − Repairs & maintenance: −$8,281
• − Management: −$8,281
• − Depreciation: −$20,943
• Taxable income: $16,795
• Est. tax owed @ 24.0%: −$4,031
• After-tax cash flow: $23,554/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Revere
• NCES district ID: 2510050
• Math proficiency: 19% ▼ -25.00%
• Reading proficiency: 37% ▼ -11.00%
• Median HH income: $51,159
• Composite: 24.59/100
• National rank: #7637
• State rank: #261 of 302 in MA

Livability — Revere

• Score: 72/100
• State rank: #122
• US rank: #6460

Category grades

Amenities F Commute A+ Cost of living F Crime D+ Employment B+ Housing B Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Revere, MA
• County: Suffolk County · 777,335 people
• City population: 60,012
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 60,012
• Household income: $86,969
• Rent vs Own: 54.4% rent · 45.6% own
• Severe rent burden: 3586.0

Population outlook (Suffolk County) Hauer SSP2

• Today (2025): 915,464 people
• By 2030: 983,798 · +7.5%
• By 2040: 1,119,602 · +22.3%
• By 2050: 1,255,187 · +37.1%
• By 2075: 1,534,434 · +67.6%
• By 2100: 1,748,505 · +91.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 48% Hispanic / Latino 39% Two or more races 21% Black 4% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Dominican 2%
• Common ancestry: Estonian 4% Romanian 2% Russian 2%
• Foreign-born: 44% · Canada, Jamaica, China
• Languages at home: 43% English-only · Spanish 35% Other Indo-European 11% Arabic 4%

Political lean MEDSL · Suffolk

• 2024 margin: Solid D (+52.5) · D 74.8% · R 22.4% · Other 2.8%
• 2008→2024 swing: -3.2pp toward R · 2008: 55.7pp · 2024: 52.5pp
• All cycles: 2024: D+52.5 2020: D+63.2 2016: D+63.0 2012: D+56.7 2008: D+55.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -285.62%
• Current HPI: 358.7286
• Rent YoY: ▲ 1.91%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

-0.3% since first listed

3 events — show timeline

• 2023-11-08 Sold (MLS) $647,000 MLS PIN
• 2023-09-27 Pending — MLS PIN
• 2023-09-20 Listed $649,000 MLS PIN

Property tax history

+3.5%/yr

Latest (2023): $5,287 · -0.3% YoY. Source: county tax records.