Duplex with Finished Third-Floor
131 Lynnfield St, Peabody, MA 01960
For Sale
New
$875,000
Separate two-bedroom apartments offer distinct living arrangements, with the upper unit featuring two full bathrooms.
Property Size4,448 SF
Days on Market1
Property Features for 131 Lynnfield St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
central air
in-unit laundry
covered front porch
Building Details
Building Size
Year Built
Year Renovated
Buildings
Stories
Units
Listing Agency:
Nina-Soto Realty, LLC
Listed By:
Michelle Bettencourt
(508) 843-7708
Source:
Elliman
Added: Nov 6
Last Checked: Nov 6 at 2:43PM
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 Nina-Soto Realty, LLC
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Investment Insights
Based on property information with market context.
This 1925 duplex at 131 Lynnfield St in Peabody has a two-bedroom apartment on each of its first two floors, plus finished rooms on the third floor. The upper apartment includes two full bathrooms, including a primary suite with a walk-in closet and double vanity. Its kitchen has white cabinetry, stainless steel appliances, a tile backsplash, and an island with seating. Hardwood floors, central air, in-unit laundry, and a covered front porch are also part of the property. Renovations were completed in 2017–2018.
The first-floor unit has a two-bedroom layout, an eat-in kitchen, and a living room with bay windows. Off-street parking accommodates approximately six vehicles.
The first-floor unit has a two-bedroom layout, an eat-in kitchen, and a living room with bay windows. Off-street parking accommodates approximately six vehicles.
Key Highlights
- Two apartments, each with 2 bedrooms
- Upper apartment has 2 full bathrooms and a primary suite with a walk‑in closet
- Finished third‑floor rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,932
Cap Rate
8.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,498,640
$1.5M
Cap Rate 7%
$1,070,457
$1.1M
Cap Rate 9%
$832,578
$832.6K
Market Conditions
NOI Build-Up for 4,448 SF
Gross rent
$112.1K $25.20/SF
− Vacancy
−$5.0K −$1.13/SF
EGI
$107.0K $24.07/SF
− OpEx
−$32.1K −$7.22/SF
NOI
$74.9K $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%
$1,498,640
Cap Rate 7%
$1,070,457
Cap Rate 9%
$832,578
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$936.7K – $1.25M
NOI $74,932 @ 7.0% cap · market cap 8.56%
Second Best
Apartment 5plus
$966.3K
$845.5K – $1.13M
NOI $67,638 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$2.63M
$2.30M – $3.07M
NOI $184,324 @ 7.0% cap · market cap 21.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
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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
$566,700
Median Home Value
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Market
Average Price Trend$/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 - Separate two-bedroom apartments offer distinct living arrangements, with the upper unit featuring two full bathrooms.
Where is this duplex located?
The property is located at 131 Lynnfield St Peabody, MA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms; Upper apartment has 2 full bathrooms and a primary suite with a walk‑in closet; Finished third‑floor rooms
