Two-Family Residence with Fenced
For Sale
$788,966
94 Eutaw Ave, Lynn, MA 01902
Well-maintained two-family home offering flexible layouts for owner-occupancy or rental use, with fenced outdoor space.
Property Size2,129 SF
Days on Market71
Property Features for 94 Eutaw Ave
General Information
Standard status
Active
Size
2,129 SF
Property subtype
Investment
Additional Details
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,042
Building Details
Building Size
2,129 SF
Year Built
1900
Stories
3
Units
2
Listing Agency:
(978) 852-6259
Listed By:
Kaitlin Martel
(978) 852-6259
Source:
Elliman
Added: Jun 4
Changed: Aug 12
Last Checked: Aug 12 at 8:07AM
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 Kaitlin Martel
Investment Insights
Based on property information with market context.
This well-maintained two-family residence has been updated over the years and offers two distinct living setups. The first-floor unit features 2 bedrooms, a living room, an updated kitchen, and a full bath. The second unit is a spacious two-level layout that has been freshly painted, with a kitchen, living/dining room, family room, and a half bath with laundry on the main level. Upstairs, the second unit provides four bedrooms and a full bath, with new carpeting throughout. The property also includes two recently updated gas heating systems, including one approximately 4 years old and one new, along with blown-in insulation to help support energy efficiency. Outside, there is a fenced backyard suited for relaxing and outdoor dining.
The home is located in East Lynn, near Keaney Park and within short reach of local transit and the coast. It is listed as about 1.5 miles from the Swampscott T and approximately 2 miles from the beach, supporting convenient day-to-day access for residents.
For buyers, the structure provides practical flexibility: one unit can support owner-occupancy while the other can be rented, or both units can be used as income-producing space. With updated interiors, multiple bedrooms, and dedicated heating systems for the units, the property is suited to tenants or owners seeking straightforward two-family living.
The home is located in East Lynn, near Keaney Park and within short reach of local transit and the coast. It is listed as about 1.5 miles from the Swampscott T and approximately 2 miles from the beach, supporting convenient day-to-day access for residents.
For buyers, the structure provides practical flexibility: one unit can support owner-occupancy while the other can be rented, or both units can be used as income-producing space. With updated interiors, multiple bedrooms, and dedicated heating systems for the units, the property is suited to tenants or owners seeking straightforward two-family living.
Key Highlights
- Two‑family home built in 1900 with 1st- and 2nd‑floor units
- 1st‑floor unit: 2 bedrooms, living room, updated kitchen, and a full bath
- 2nd unit: 2 levels with kitchen, living/dining room, family room, and half bath with laundry on the main level; upstairs has 4 bedrooms and a full bath
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
$42,789
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
5.42%
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%
$855,780
$855.8K
Cap Rate 7%
$611,271
$611.3K
Cap Rate 9%
$475,433
$475.4K
Market Conditions
NOI Build-Up for 2,129 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
$65.1K $30.60/SF
− Vacancy
−$4.0K −$1.89/SF
EGI
$61.1K $28.71/SF
− OpEx
−$18.3K −$8.61/SF
NOI
$42.8K $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 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%
$855,780
Cap Rate 7%
$611,271
Cap Rate 9%
$475,433
Alternative Uses
Best Use
Multifamily LT 5
$611.3K
$534.9K – $713.2K
NOI $42,789 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$531.2K
$464.8K – $619.7K
NOI $37,181 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$753.3K
$659.1K – $878.9K
NOI $52,731 @ 7.0% cap · market cap 6.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
835
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-family home offering flexible layouts for owner-occupancy or rental use, with fenced outdoor space.
Where is this duplex located?
The property is located at 94 Eutaw Ave Lynn, MA.
What is the asking price?
The asking price for this property is $788,966.
What are key features of this property?
This property features: Two‑family home built in 1900 with 1st- and 2nd‑floor units; 1st‑floor unit: 2 bedrooms, living room, updated kitchen, and a full bath; 2nd unit: 2 levels with kitchen, living/dining room, family room, and half bath with laundry on the main level; upstairs has 4 bedrooms and a full bath
