New Construction
For Sale
$1,253,900
20 Bellair St, Lynn, MA 01902
Residential Income, Lynn, MA
Property Size2,660 SF
Lot Size0.24 Acres
Price / SF$471.39
Days on Market20
Property Features for 20 Bellair St
General Information
Property type
Residential Multi Family
Property subtype
Other
Property condition
Under Construction
Zoning
R2
Bedrooms
6
Bathrooms
5
Full bathrooms
4
Half bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 4, Bedroom 1, Bathroom 6, Bathroom 3, Bedroom 3, Bathroom 5, Bathroom 1
Parking
5
Directions
Western Ave to Bellair St
Subdivision
East Lynn
Standard status
Active
APN
M:070 B:679 L:007
Size
2,660 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
9999
Amenities
covered porches
fenced backyard
Building Details
Year built
2026
Floors in Building
4
Number of units
2
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Aug 5
Changed: Aug 24
Last Checked: Aug 24 at 2:06PM
MLS# 73559844
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.
This two-unit duplex is under construction and scheduled for completion in 2026. The property is designed with 6 bedrooms, 4 full bathrooms, and 2 half bathrooms, along with hardwood floors, stainless steel kitchen appliances, energy-efficient heating and cooling systems, and contemporary interior finishes. Covered porches, a fenced backyard, a 1-car garage, and 4 assigned off-street parking spaces add functional value. Delivery is planned in vacant condition, allowing the next owner to occupy a unit or establish a new tenancy strategy.
The property is zoned R2 and sits on a 0.2361-acre lot at 20 Bellair St in Lynn, Massachusetts. Shopping, restaurants, public transportation, and major commuter routes are identified in the surrounding area.
The property is zoned R2 and sits on a 0.2361-acre lot at 20 Bellair St in Lynn, Massachusetts. Shopping, restaurants, public transportation, and major commuter routes are identified in the surrounding area.
Key Highlights
- Two‑unit duplex under construction with anticipated 2026 completion
- 6 bedrooms, 4 full bathrooms, and 2 half bathrooms
- 0.2361‑acre lot in Lynn, MA 01902
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
$53,462
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
4.26%
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%
$1,069,240
$1.1M
Cap Rate 7%
$763,743
$763.7K
Cap Rate 9%
$594,022
$594.0K
Market Conditions
NOI Build-Up for 2,660 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
$81.4K $30.60/SF
− Vacancy
−$5.0K −$1.89/SF
EGI
$76.4K $28.71/SF
− OpEx
−$22.9K −$8.61/SF
NOI
$53.5K $20.10/SF
Area
Lynn, MA
Vacancy
6.17%
Lease Rate
$30.60 /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%
$1,069,240
Cap Rate 7%
$763,743
Cap Rate 9%
$594,022
Alternative Uses
Best Use
Multifamily LT 5
$763.7K
$668.3K – $891.0K
NOI $53,462 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$663.6K
$580.7K – $774.2K
NOI $46,454 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$941.2K
$823.5K – $1.10M
NOI $65,883 @ 7.0% cap · market cap 5.25%
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
2,059
Businesses Nearby
Explore this area
Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
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-unit multifamily property with contemporary finishes, covered porches, a fenced yard, garage, and assigned off-street parking.
Where is this duplex located?
The property is located at 20 Bellair St Lynn, MA.
What is the asking price?
The asking price for this property is $1,253,900.
What are key features of this property?
This property features: Two‑unit duplex under construction with anticipated 2026 completion; 6 bedrooms, 4 full bathrooms, and 2 half bathrooms; 0.2361‑acre lot in Lynn, MA 01902
