Updated Triplex with
For Sale
$999,000
89 Eutaw Ave, Lynn, MA 01902
Three matching apartments offer separate utilities, recent interior updates, and a fenced common yard.
Property Size2,736 SF
Days on Market13
Property Features for 89 Eutaw Ave
General Information
Standard status
Active
Size
2,736 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Parking per Unit
1
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$7,482
Amenities
fenced yard
Building Details
Building Size
2,736 SF
Year Built
1890
Buildings
1
Stories
3
Units
3
Listed By:
Dan Bernal · License #449539464
(617) 275-3291
Source:
Elliman
Added: Sep 15
Changed: Sep 23
Last Checked: Sep 26 at 9:35AM
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 Dan Bernal
Investment Insights
Based on property information with market context.
Built in 1890, this triplex contains three functionally similar apartments, each with two bedrooms, one bathroom, and one parking space. Interior improvements completed three years ago include granite counters. The building has vinyl siding that is less than 10 years old and a rubber roof that is 7 years old with regular maintenance. Each apartment has separate utilities and its own gas-fired boiler. The property is fully deleaded with certificates.
A fenced common yard provides shared outdoor space suitable for pets, grilling, or gatherings. The building is near grocery stores and restaurants, with access to Western Ave and major routes in and out of Lynn. Walk Score is 88, Bike Score is 52, and Transit Score is 44. The property is fully occupied, with limited group showings.
A fenced common yard provides shared outdoor space suitable for pets, grilling, or gatherings. The building is near grocery stores and restaurants, with access to Western Ave and major routes in and out of Lynn. Walk Score is 88, Bike Score is 52, and Transit Score is 44. The property is fully occupied, with limited group showings.
Key Highlights
- Three 2‑bedroom, 1‑bathroom units with matching layouts
- One parking space assigned to each unit
- Separate utilities and gas‑fired boiler for every apartment
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
$54,989
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
5.50%
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%
$1,099,780
$1.1M
Cap Rate 7%
$785,557
$785.6K
Cap Rate 9%
$610,989
$611.0K
Market Conditions
NOI Build-Up for 2,736 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
$83.7K $30.60/SF
− Vacancy
−$5.2K −$1.89/SF
EGI
$78.6K $28.71/SF
− OpEx
−$23.6K −$8.61/SF
NOI
$55.0K $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%
$1,099,780
Cap Rate 7%
$785,557
Cap Rate 9%
$610,989
Alternative Uses
Best Use
Multifamily LT 5
$785.6K
$687.4K – $916.5K
NOI $54,989 @ 7.0% cap · market cap 5.50%
Second Best
Apartment 5plus
$682.6K
$597.3K – $796.4K
NOI $47,781 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$968.1K
$847.1K – $1.13M
NOI $67,765 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three matching apartments offer separate utilities, recent interior updates, and a fenced common yard.
Where is this triplex located?
The property is located at 89 Eutaw Ave Lynn, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three 2‑bedroom, 1‑bathroom units with matching layouts; One parking space assigned to each unit; Separate utilities and gas‑fired boiler for every apartment
