Two-Family Residential Income
10 Richard Street Lynn, MA 01905
10 Richard Street, Lynn, MA, 01905
$650,000
For Sale
$650,000
Two-unit duplex with separate electric meters, updated porches, private deck, detached garage, and off-street driveway parking.
Property Size2,038 SF
Price / SF$318.94
Days on Market61
Property Features for 10 Richard Street
General Information
- Standard status
- Active
- Size
- 2,038 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1909
Listing agency
Toner Real Estate, LLC
(617) 438-7878
Listed by
Colleen Toner
(617) 438-7878
Source
Lockandkeyre
Added: May 22 Updated: Jul 20 at 11:00PM Checked: Jul 21 at 3:04AM
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 Toner Real Estate, LLC
Investment Insights
Based on property information with market context.
Welcome to 10 Richard Street, a well-maintained two-family duplex with identical layouts across both units. The property totals 8 rooms with 4 bedrooms and 2 full bathrooms, with each unit featuring a spacious living room, eat-in kitchen, two generously sized bedrooms, and a full bath. The first-floor bedrooms have hardwood flooring, and the second-floor unit includes carpeting and a brand-new gas line with gas cooking.
Additional improvements include two updated porches, a private deck, a detached garage, and off-street driveway parking. The yard is level and fenced. The property also features separate electric meters and a new rubber roof installed in 2025.
Conveniently located close to highway access, restaurants, shopping, and public transportation, the duplex offers straightforward two-family configuration with both units set up for comfortable day-to-day living.
Additional improvements include two updated porches, a private deck, a detached garage, and off-street driveway parking. The yard is level and fenced. The property also features separate electric meters and a new rubber roof installed in 2025.
Conveniently located close to highway access, restaurants, shopping, and public transportation, the duplex offers straightforward two-family configuration with both units set up for comfortable day-to-day living.
Key Highlights
- Well‑maintained 2‑family duplex built in 1909 with identical unit layouts
- Each unit features a spacious living room, eat‑in kitchen, 2 bedrooms, and 1 full bath (total: 4 bedrooms, 2 full baths)
- Separate electric meters for both units
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.4k | $30.60 |
| − Vacancy | −$3.8k | −$1.89 |
| EGI | $58.5k | $28.71 |
| − OpEx | −$17.6k | −$8.61 |
| NOI | $41.0k | $20.10 |
2,038 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$585.2K
$512.0K – $682.7K
NOI $40,961 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$508.4K
$444.9K – $593.2K
NOI $35,591 @ 7.0% cap · market cap 5.48%
Theoretical Best
Office A
$721.1K
$631.0K – $841.3K
NOI $50,477 @ 7.0% cap · market cap 7.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit duplex with separate electric meters, updated porches, private deck, detached garage, and off-street driveway parking.
Where is this duplex located?
The property is located at 10 Richard Street Lynn, MA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Well‑maintained 2‑family duplex built in 1909 with identical unit layouts; Each unit features a spacious living room, eat‑in kitchen, 2 bedrooms, and 1 full bath (total: 4 bedrooms, 2 full baths); Separate electric meters for both units
