Two-Unit Residential Income
128 Franklin Street Lynn, MA 01902
128 Franklin Street, Lynn, MA, 01902
$825,000
For Sale
$825,000
Spacious two-family duplex with separate utilities, gas heat and hot water, plus four-car parking and multiple private decks.
Property Size4,002 SF
Price / SF$206.15
Days on Market129
Property Features for 128 Franklin Street
General Information
- Standard status
- Active
- Size
- 4,002 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1900
Listing agency
Citylight Homes LLC
(978) 977-0050
Listed by
Steven Belesis · License #9510338
(978) 977-0050
Source
Compass
Added: Mar 17 Updated: Jul 22 at 9:52PM Checked: Jul 22 at 9:52PM
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 Citylight Homes LLC
Investment Insights
Based on property information with market context.
New to market, this two-family residential income duplex offers more than 4,000 square feet of living area with 12 total bedrooms and three full bathrooms across three levels of one larger owner’s apartment configuration plus a first-floor unit. The first floor features a two-bedroom, one-bath layout with a formal dining room, living room, and private deck. The owner’s apartment is townhouse-style, with a second-floor open concept kitchen, dining, and living room, two private decks, two bedrooms, and a full bath, along with a third-floor kitchenette area that includes five additional bedrooms and a full bath.
The property includes hardwood flooring throughout, high ceilings, replacement windows, and vinyl siding. It also offers separate utilities with gas heat and gas hot water, along with four-car parking and ample basement storage.
With two separate living arrangements inside the duplex, the layout is designed to support independent day-to-day use while keeping common infrastructure straightforward, including dedicated utilities.
The property includes hardwood flooring throughout, high ceilings, replacement windows, and vinyl siding. It also offers separate utilities with gas heat and gas hot water, along with four-car parking and ample basement storage.
With two separate living arrangements inside the duplex, the layout is designed to support independent day-to-day use while keeping common infrastructure straightforward, including dedicated utilities.
Key Highlights
- Massive 2‑family home with 4,000+ sq ft of living area, 12 total bedrooms, and 3 full baths
- First‑floor unit: 2 bed, 1 bath with formal dining room, living room, and a private deck
- Owners apartment spans multiple levels with an open‑concept living area, 2 bedrooms, and 2 private decks
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $135.9k | $33.96 |
| − Vacancy | −$8.8k | −$2.21 |
| EGI | $127.1k | $31.75 |
| − OpEx | −$57.2k | −$14.29 |
| NOI | $69.9k | $17.46 |
4,002 SF · lease $33.96/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,434 @ 7.0% cap · market cap 9.75%
Second Best
Apartment 5plus
$998.4K
$873.6K – $1.16M
NOI $69,891 @ 7.0% cap · market cap 8.47%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,122 @ 7.0% cap · market cap 12.01%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Spacious two-family duplex with separate utilities, gas heat and hot water, plus four-car parking and multiple private decks.
Where is this duplex located?
The property is located at 128 Franklin Street Lynn, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Massive 2‑family home with 4,000+ sq ft of living area, 12 total bedrooms, and 3 full baths; First‑floor unit: 2 bed, 1 bath with formal dining room, living room, and a private deck; Owners apartment spans multiple levels with an open‑concept living area, 2 bedrooms, and 2 private decks
