Building Details

Year Built 1910

Listing Agency: Keller Williams Realty Evolution Show Phone

Listed By: Stonehurst RE Group Show Phone

Source: Lockandkeyre

Added: Sep 29 Changed: Oct 4 Last Checked: Oct 4 at 10:41AM

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Investment Insights

Based on property information with market context.

Built in 1910, this 1,959-square-foot duplex contains two residences with updated kitchens and bathrooms. Kitchen finishes include shaker cabinetry and quartz counters in one unit, with granite counters in the other. Oak hardwood flooring runs through the interiors, and the renovated baths feature contemporary tilework and quartz-top vanities. The upper residence continues to the third floor, where it has two additional bedrooms; the first-floor residence includes basement space for storage or hobbies. Solar panels and newer natural-gas mechanical systems are also in place.

The property occupies a corner lot on a one-way street in West Lynn. A double driveway provides parking, while the yard includes a patio and storage shed. Nearby transportation options include MBTA bus service and Blue Line service at Wonderland Station, with Routes 1, 1A, and 95 also accessible. Market Basket, the Western Avenue business district, Red Rock, and Nahant beaches are identified nearby. Zoning is R2.

Key Highlights

• Two residences in a 1,959‑square‑foot duplex built in 1910
• Upper unit extends to the third floor and includes two additional bedrooms
• First‑floor unit has basement space for storage or hobbies

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$39,373

Cap Rate

5.08%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$787,460 $787.5K

Cap Rate 7%

$562,471 $562.5K

Cap Rate 9%

$437,478 $437.5K

Market Conditions

NOI Build-Up for 1,959 SF

Gross rent

$59.9K $30.60/SF

− Vacancy

−$3.7K −$1.89/SF

EGI

$56.2K $28.71/SF

− OpEx

−$16.9K −$8.61/SF

NOI

$39.4K $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%

$787,460

Cap Rate 7%

$562,471

Cap Rate 9%

$437,478

Alternative Uses

Best Use

Multifamily LT 5

$562.5K

$492.2K – $656.2K (±1% cap)

NOI $39,373 @ 7.0% cap · market cap 5.08%

Second Best

Apartment 5plus

$488.7K

$427.7K – $570.2K (±1% cap)

NOI $34,212 @ 7.0% cap · market cap 4.42%

Theoretical Best

Office A

$693.2K

$606.5K – $808.7K (±1% cap)

NOI $48,521 @ 7.0% cap · market cap 6.26%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Dental Office Skin Care Clinic Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

861

Businesses Nearby

Explore this area Business Placement

Demographics for 01905, MA

27,761

Population

9,583

Households

2.9

Avg Household Size

34

Median Age

21%

College-Educated

79%

High-School Grad

3.1 sq mi

ZIP Area

8,955

Density / Sq Mi

$84,341

Median Household Income

$42,983

Median Earnings

$1,749

Median Rent

$443,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Updated interiors, solar panels, and natural-gas mechanical systems serve both residences.

Where is this duplex located?

The property is located at 104 Waterhill St Lynn, MA.

What is the asking price?

The asking price for this property is $774,900.

What are key features of this property?

This property features: Two residences in a 1,959‑square‑foot duplex built in 1910; Upper unit extends to the third floor and includes two additional bedrooms; First‑floor unit has basement space for storage or hobbies