Two-Family Residential Income
For Sale
$799,900
15 Flint Street, Lynn, MA 01905
Well-maintained two-unit residence with separate utilities, off-street parking, and a fenced paved yard.
Property Size1,988 SF
Price / SF$402.36
Days on Market98
Property Features for 15 Flint Street
General Information
Standard status
Active
Size
1,988 SF
Total Parking Spaces
5
Property subtype
Residential Income
Zoning
R2
Taxes and HOA fees
Annual Taxes
$8,013
Building Details
Building Size
1,988 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
RE/MAX 360
(978) 560-8500
Listed By:
Katie Divirgilio · License #9516912
(339) 440-2688
Source:
Alliancepartnersre
Added: Jun 2
Changed: Sep 6
Last Checked: Jun 3 at 12:06PM
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 RE/MAX 360
Investment Insights
Based on property information with market context.
This well-maintained two-family home at 15 Flint Street provides two distinct residential units with separate utilities. The vacant first-floor unit includes an eat-in kitchen, a large living room, two bedrooms, and in-unit laundry. The second-floor unit will be delivered vacant at closing and offers three bedrooms, an eat-in kitchen, and a living room, with laundry located in the basement. The basement also provides storage, and both units have been de-leaded. Additional features include gas heating and cooking, 100 AMP electrical service per unit, and a roof replacement in 2014.
The property sits on a fenced and paved yard and includes a detached garage, along with four-car off-street parking. The home is described as conveniently located with proximity to major transportation and major highways.
Each unit is supported by its own utilities, with in-unit laundry on the first floor and basement laundry for the second floor, making the configuration straightforward for day-to-day operations.
The property sits on a fenced and paved yard and includes a detached garage, along with four-car off-street parking. The home is described as conveniently located with proximity to major transportation and major highways.
Each unit is supported by its own utilities, with in-unit laundry on the first floor and basement laundry for the second floor, making the configuration straightforward for day-to-day operations.
Key Highlights
- Two‑family home with 2 full baths and 1988 sq ft of living space
- 3,362 sq ft level lot with fenced and paved yard plus detached garage and 4‑car off‑street parking
- Vacant‑at‑closing first‑floor unit and second‑floor unit delivered vacant at closing
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
$39,956
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
5.00%
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%
$799,120
$799.1K
Cap Rate 7%
$570,800
$570.8K
Cap Rate 9%
$443,956
$444.0K
Market Conditions
NOI Build-Up for 1,988 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
$60.8K $30.60/SF
− Vacancy
−$3.8K −$1.89/SF
EGI
$57.1K $28.71/SF
− OpEx
−$17.1K −$8.61/SF
NOI
$40.0K $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%
$799,120
Cap Rate 7%
$570,800
Cap Rate 9%
$443,956
Alternative Uses
Best Use
Multifamily LT 5
$570.8K
$499.5K – $665.9K
NOI $39,956 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$496.0K
$434.0K – $578.6K
NOI $34,718 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$703.4K
$615.5K – $820.7K
NOI $49,239 @ 7.0% cap · market cap 6.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
861
Businesses Nearby
Explore this area
Business Placement
Demographics for 01905, MA
27,761
Population
9,583
Households
2.9
Avg Household Size
34
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
8,955
Density / Sq Mi
$84,341
Median Household Income
$42,983
Median Earnings
$1,749
Median Rent
$443,200
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-unit residence with separate utilities, off-street parking, and a fenced paved yard.
Where is this duplex located?
The property is located at 15 Flint Street Lynn, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two‑family home with 2 full baths and 1988 sq ft of living space; 3,362 sq ft level lot with fenced and paved yard plus detached garage and 4‑car off‑street parking; Vacant‑at‑closing first‑floor unit and second‑floor unit delivered vacant at closing
