Multifamily Property with ENERGY STAR
For Sale
$1,150,000
11-13 Echo Grove Avenue, Lynn, MA 01905
R2-zoned multifamily property with paved exterior areas and an equipped kitchen.
Property Size3,510 SF
Price / SF$327.64
Days on Market156
Property Features for 11-13 Echo Grove Avenue
General Information
Standard status
Active
Size
3,510 SF
Total Parking Spaces
6
Property subtype
Multi-family / 3 Family
Zoning
R2
Taxes and HOA fees
Annual Taxes
$7,745
Amenities
City/Town Sewer, Public
No, Yes, .00, Paved Drive, Paved Drive
No
Disposal, ENERGY STAR Qualified Refrigerator, Range
3.0
3
3.00
Rubber
Building Details
Year Built
1900
Listing Agency:
Tremont Realty Group, LLC
Listed By:
Demostenes Nunez · License #9535913
(781) 780-5730
Source:
Compass
Added: Apr 1
Changed: Sep 3
Last Checked: Aug 31 at 4:10PM
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 Tremont Realty Group, LLC
Investment Insights
Based on property information with market context.
This 3,510-square-foot multifamily property was built in 1900 and is zoned R2. Interior features include an ENERGY STAR Qualified Refrigerator, range, and disposal, while the exterior includes paved areas.
The property is located at 11-13 Echo Grove Ave in Lynn, Massachusetts, off Summer Street in Essex County.
The property is located at 11-13 Echo Grove Ave in Lynn, Massachusetts, off Summer Street in Essex County.
Key Highlights
- 3,510‑square‑foot multifamily property
- R2 zoning
- Built in 1900
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
$61,298
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
5.33%
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%
$1,225,960
$1.2M
Cap Rate 7%
$875,686
$875.7K
Cap Rate 9%
$681,089
$681.1K
Market Conditions
NOI Build-Up for 3,510 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
$119.2K $33.96/SF
− Vacancy
−$7.7K −$2.21/SF
EGI
$111.5K $31.75/SF
− OpEx
−$50.2K −$14.29/SF
NOI
$61.3K $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%
$1,225,960
Cap Rate 7%
$875,686
Cap Rate 9%
$681,089
Alternative Uses
Best Use
Apartment 5plus
$875.7K
$766.2K – $1.02M
NOI $61,298 @ 7.0% cap · market cap 5.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,936 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
659
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - R2-zoned multifamily property with paved exterior areas and an equipped kitchen.
Where is this multifamily property located?
The property is located at 11-13 Echo Grove Avenue Lynn, MA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: 3,510‑square‑foot multifamily property; R2 zoning; Built in 1900
