Two-Family Duplex with Separate
10 Essex Ct, Lynn, MA 01902
For Sale
$599,000
Two attached units each feature two bedrooms and one full bath, with separate utilities for flexible occupancy.
Property Size1,776 SF
Price / SF$337.27
Days on Market172
Property Features for 10 Essex Ct
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Multifamily Units
Amenities
Varies
No
Shingle
Rain Gutters
Public Transportation, Laundromat, Private School, Public School
for Gas Range
2
1 to 2 Mile To Beach
Building Details
Building Size
Year Built
Stories
Listing Agency:
Keller Williams Gateway Realty
Listed By:
Jillian Aziz
(603) 571-8655
Source:
Reishomesearch
Added: May 26
Changed: Nov 10
Last Checked: Jul 8 at 4:25AM
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 Keller Williams Gateway Realty
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Investment Insights
Based on property information with market context.
This two-family duplex offers a practical layout designed for either investor ownership or owner-occupancy. The property includes two separate units, and each unit features 2 bedrooms and 1 full bathroom. Separate utilities are provided, which can simplify billing and day-to-day management compared to shared metering. The building is described as well-maintained, with functional living spaces throughout.
The home is located in the heart of Lynn, with convenient access to everyday needs. The public remarks note proximity to shopping, restaurants, public transportation, and major routes, supporting easy commuting and tenant convenience.
For tenants, the configuration provides straightforward, self-contained unit living with two-bedroom flexibility in each unit. For buyers, the setup supports multiple occupancy scenarios, including renting both units or living in one unit while leasing the other. The combination of separate utilities and matching unit layouts may help streamline operations for an owner managing the property as a residential income asset.
The home is located in the heart of Lynn, with convenient access to everyday needs. The public remarks note proximity to shopping, restaurants, public transportation, and major routes, supporting easy commuting and tenant convenience.
For tenants, the configuration provides straightforward, self-contained unit living with two-bedroom flexibility in each unit. For buyers, the setup supports multiple occupancy scenarios, including renting both units or living in one unit while leasing the other. The combination of separate utilities and matching unit layouts may help streamline operations for an owner managing the property as a residential income asset.
Key Highlights
- Two‑family property in Lynn built in 1900
- Each unit has 2 bedrooms and 1 full bathroom
- Separate utilities for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,695
Cap Rate
5.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$713,900
$713.9K
Cap Rate 7%
$509,929
$509.9K
Cap Rate 9%
$396,611
$396.6K
Market Conditions
NOI Build-Up for 1,776 SF
Gross rent
$54.3K $30.60/SF
− Vacancy
−$3.4K −$1.89/SF
EGI
$51.0K $28.71/SF
− OpEx
−$15.3K −$8.61/SF
NOI
$35.7K $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 Rate 5%
$713,900
Cap Rate 7%
$509,929
Cap Rate 9%
$396,611
Alternative Uses
Best Use
Multifamily LT 5
$509.9K
$446.2K – $594.9K
NOI $35,695 @ 7.0% cap · market cap 5.96%
Second Best
Apartment 5plus
$443.1K
$387.7K – $516.9K
NOI $31,016 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$628.4K
$549.9K – $733.1K
NOI $43,988 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,534
Businesses Nearby
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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
$456,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Lynn, MA
Properties on Market for Duplexes in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two attached units each feature two bedrooms and one full bath, with separate utilities for flexible occupancy.
Where is this duplex located?
The property is located at 10 Essex Ct Lynn, MA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Two‑family property in Lynn built in 1900; Each unit has 2 bedrooms and 1 full bathroom; Separate utilities for each unit
