Duplex with 3-Bay
115 Lynn St, Peabody, MA 01960
For Sale
New
$749,999
Two residential units have separate utilities, with two bedrooms and one full bath in each.
Property Size1,926 SF
Lot Size0.15 Acres
Price / SF$389.41
Days on Market5
Property Features for 115 Lynn St
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
J. Barrett & Company
Listed By:
Steven Graczyk
(978) 764-1222
Source:
Donnellyandco
Added: Nov 2
Changed: Nov 5
Last Checked: Nov 4 at 5:42PM
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 J. Barrett & Company
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Investment Insights
Based on property information with market context.
This 1935 duplex contains 1,926 square feet across two units, each with two bedrooms and one full bath. The property has eight rooms and four bedrooms in total. A three-bay garage, paved driveway parking, and a full basement with storage and interior and exterior access add to the building’s functional features. The lot measures 6,625 square feet.
At 115 Lynn Street in Peabody, the property is described as close to downtown, shopping, restaurants, and area amenities, with access to major highways. The upper level may offer the possibility of additional finished space; the garage and attic are also identified as areas with potential for expansion.
At 115 Lynn Street in Peabody, the property is described as close to downtown, shopping, restaurants, and area amenities, with access to major highways. The upper level may offer the possibility of additional finished space; the garage and attic are also identified as areas with potential for expansion.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- 1,926 square feet of living space in a 1935 building
- 3‑bay garage and paved driveway parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,446
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,920
$648.9K
Cap Rate 7%
$463,514
$463.5K
Cap Rate 9%
$360,511
$360.5K
Market Conditions
NOI Build-Up for 1,926 SF
Gross rent
$48.5K $25.20/SF
− Vacancy
−$2.2K −$1.13/SF
EGI
$46.4K $24.07/SF
− OpEx
−$13.9K −$7.22/SF
NOI
$32.4K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$648,920
Cap Rate 7%
$463,514
Cap Rate 9%
$360,511
Alternative Uses
Best Use
Multifamily LT 5
$463.5K
$405.6K – $540.8K
NOI $32,446 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$418.4K
$366.1K – $488.1K
NOI $29,288 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.14M
$997.7K – $1.33M
NOI $79,813 @ 7.0% cap · market cap 10.64%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
285
Businesses Nearby
Explore this area
Business Placement
Demographics for 01960, MA
54,155
Population
23,009
Households
2.4
Avg Household Size
47
Median Age
34%
College-Educated
91%
High-School Grad
16.0 sq mi
ZIP Area
3,385
Density / Sq Mi
$95,173
Median Household Income
$56,100
Median Earnings
$1,902
Median Rent
$566,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Essex County, MA
Properties on Market for Duplexes in Essex County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units have separate utilities, with two bedrooms and one full bath in each.
Where is this duplex located?
The property is located at 115 Lynn St Peabody, MA.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 full bath; 1,926 square feet of living space in a 1935 building; 3‑bay garage and paved driveway parking
