Duplex with Three-Bay
115 Lynn Street, Peabody, MA 01960
For Sale
New
$749,999
Both residences have two bedrooms, one full bath, and separate utility services.
Property Size1,926 SF
Lot Size0.15 Acres
Price / SF$389.41
Days on Market6
Property Features for 115 Lynn Street
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Highway Access
Utilities to Site
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
J. Barrett & Company
Listed By:
Steven Graczyk
Source:
Jbarrettrealty
Added: Nov 1
Changed: Nov 4
Last Checked: Nov 6 at 9:54AM
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.
Built in 1935, this Peabody duplex contains two residences with a combined 1,926 square feet of living area. Each unit has two bedrooms and one full bath. Separate utilities serve the units, and the property includes a three-bay garage and a paved driveway with off-street parking. A full basement offers storage and has both interior and exterior access.
The property occupies a 6,625-square-foot lot at 115 Lynn Street, close to downtown Peabody. Major highways, shopping, and restaurants are also nearby.
The property occupies a 6,625-square-foot lot at 115 Lynn Street, close to downtown Peabody. Major highways, shopping, and restaurants are also nearby.
Key Highlights
- Two units, each with 2 bedrooms and 1 full bath
- 1,926 square feet of living area on a 6,625‑square‑foot lot
- Three‑bay garage and paved driveway with off‑street 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.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
438
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
$566,700
Median Home Value
Market
Average Price Trend$/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 - Both residences have two bedrooms, one full bath, and separate utility services.
Where is this duplex located?
The property is located at 115 Lynn Street 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 area on a 6,625‑square‑foot lot; Three‑bay garage and paved driveway with off‑street parking
