3-Unit Multifamily
For Sale
$995,000
Pending
16 Dowfield Ter, Lynn, MA 01904
Residential Income, Lynn, MA
Property Size4,626 SF
Lot Size0.12 Acres
Days on Market28
Property Features for 16 Dowfield Ter
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R4
Bedrooms
9
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 4, Bedroom 9, Bathroom 1, Bedroom 5, Bathroom 4, Bedroom 7, Bedroom 2, Bedroom 8, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 6
Parking
7
Directions
Boston Street to Dowfield Terrace
Standard status
Pending
APN
M:054 B:207 L:013,1991425
Size
4,626 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9767
Amenities
washer/dryer hookups
private rear porch
Building Details
Year built
1920
Floors in Building
4
Number of units
3
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Jul 28
Changed: Aug 24
Last Checked: Aug 24 at 4:06PM
MLS# 73552929
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1920, this three-unit multifamily property contains 4,626 square feet and is arranged as three six-room apartments. Each unit offers more than 1,500 square feet, with double parlors, high ceilings, hardwood flooring, and eat-in kitchens. Separate gas heating, hot water, and gas and electric utilities serve each apartment, while individual washer and dryer hookups and private rear porches add functional separation. Vinyl replacement windows are also in place.
The property sits on a quiet dead-end street in Lynn, MA, with 7 unobstructed off-street parking spaces. A basement adds four rooms and a full bath. Long-term occupancy averages 19 years, and lead compliance certificates are available for all 3 units. The property is zoned R4 and occupies 0.1161 acres.
The property sits on a quiet dead-end street in Lynn, MA, with 7 unobstructed off-street parking spaces. A basement adds four rooms and a full bath. Long-term occupancy averages 19 years, and lead compliance certificates are available for all 3 units. The property is zoned R4 and occupies 0.1161 acres.
Key Highlights
- Three six‑room apartments, each measuring over 1,500 square feet
- 4,626‑square‑foot multifamily property built in 1920
- 7 unobstructed off‑street parking spaces
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
$80,788
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
8.12%
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%
$1,615,760
$1.6M
Cap Rate 7%
$1,154,114
$1.2M
Cap Rate 9%
$897,644
$897.6K
Market Conditions
NOI Build-Up for 4,626 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
$157.1K $33.96/SF
− Vacancy
−$10.2K −$2.21/SF
EGI
$146.9K $31.75/SF
− OpEx
−$66.1K −$14.29/SF
NOI
$80.8K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,615,760
Cap Rate 7%
$1,154,114
Cap Rate 9%
$897,644
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,975 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,788 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,577 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 01904, MA
19,944
Population
7,322
Households
2.7
Avg Household Size
40
Median Age
32%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
4,749
Density / Sq Mi
$100,597
Median Household Income
$49,561
Median Earnings
$1,742
Median Rent
$515,100
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?
Triplex - Three apartments feature separate utilities, laundry hookups, and private rear porches.
Where is this triplex located?
The property is located at 16 Dowfield Ter Lynn, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three six‑room apartments, each measuring over 1,500 square feet; 4,626‑square‑foot multifamily property built in 1920; 7 unobstructed off‑street parking spaces
