Spacious Two-Family Home Near
For Sale
$829,900
Pending
57 Johnson St, Lynn, MA 01902
Two-family home near Lynn Commons with updated kitchens and separate utilities.
Property Size2,842 SF
Days on Market557
Property Features for 57 Johnson St
General Information
Standard status
Pending
Size
2,842 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,826
Building Details
Year Built
1900
Listing Agency:
Transcend Realty
Listed By:
Trinh Tran · License #9518816
(781) 244-8500
Source:
Exitrealty
Added: Apr 8, 2025
Changed: Sep 10
Last Checked: Sep 15 at 6:03AM
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 Transcend Realty
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Investment Insights
Based on property information with market context.
This is a two-family home conveniently located near the Lynn Commons and Lynn's revitalized downtown area, within walking distance of public transportation. The second unit is a townhouse-style apartment featuring four bedrooms and one and a half bathrooms. Each unit includes an updated kitchen with new cabinets, formal dining rooms, and living rooms. The first and second floors have hardwood floors, while the third floor features new carpeting. Both units benefit from high ceilings, ample sunlight, and functional layouts. The property has a newer roof, replacement windows, and fresh paint inside and out. A rear composite deck overlooks the backyard. The driveway can accommodate over three cars and can be expanded to create more parking spaces if needed. The large basement includes laundry setups for each unit. Each unit has separate utilities, gas heat, and hot water. This property is suitable for an owner-occupant with a large family who can live on the second and third floors while collecting rental income from the first-floor unit.
Key Highlights
- Townhouse‑style 4‑bedroom unit offers ample living space.
- Updated kitchens with new cabinets in both units.
- Convenient location near Lynn Commons, downtown, and public transportation.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,120
Cap Rate
6.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,142,400
$1.1M
Cap Rate 7%
$816,000
$816.0K
Cap Rate 9%
$634,667
$634.7K
Market Conditions
NOI Build-Up for 2,842 SF
Gross rent
$87.0K $30.60/SF
− Vacancy
−$5.4K −$1.89/SF
EGI
$81.6K $28.71/SF
− OpEx
−$24.5K −$8.61/SF
NOI
$57.1K $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%
$1,142,400
Cap Rate 7%
$816,000
Cap Rate 9%
$634,667
Alternative Uses
Best Use
Multifamily LT 5
$816.0K
$714.0K – $952.0K
NOI $57,120 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$709.0K
$620.4K – $827.2K
NOI $49,632 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.01M
$879.9K – $1.17M
NOI $70,391 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,220
Businesses Nearby
Explore this area
Business Placement
Demographics for 01902, MA
50,725
Population
19,655
Households
2.6
Avg Household Size
35
Median Age
20%
College-Educated
75%
High-School Grad
2.4 sq mi
ZIP Area
21,135
Density / Sq Mi
$66,755
Median Household Income
$39,506
Median Earnings
$1,571
Median Rent
$456,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home near Lynn Commons with updated kitchens and separate utilities.
Where is this duplex located?
The property is located at 57 Johnson St Lynn, MA.
What is the asking price?
The asking price for this property is $829,900.
What are key features of this property?
This property features: Townhouse‑style 4‑bedroom unit offers ample living space.; Updated kitchens with new cabinets in both units.; Convenient location near Lynn Commons, downtown, and public transportation.
