Remodeled Two-Family
For Sale
$639,000
14 Union Ct, Lynn, MA 01902
Two-family house with complete 2022 interior remodeling, including new electrical wiring, insulation, and bathrooms.
Property Size1,289 SF
Price / SF$495.73
Days on Market116
Property Features for 14 Union Ct
General Information
Standard status
Active
Size
1,289 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,990
Building Details
Building Size
1,289 SF
Year Built
1910
Year Renovated
2022
Tenancy
Multi
Listing Agency:
Re-yes Real Estate
Listed By:
Jose Reyes
(781) 883-8300
Source:
Mcnamararealty
Added: Jul 8
Changed: Oct 30
Last Checked: Oct 29 at 6:37AM
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-yes Real Estate
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Investment Insights
Based on property information with market context.
This two-family home was fully renovated in 2022. According to the seller, walls and ceilings were gutted and the home was completely insulated, with new electric wiring throughout and new bathrooms installed. The property’s interior improvements provide a refreshed layout for owner-occupants seeking additional space, as well as for buyers looking to offset housing costs with rental income.
The home is described as very conveniently located close to amenities in the city. For buyers considering a dual-use residential income property in Lynn, this recently remodeled two-family configuration is designed to support modern, straightforward occupancy.
If you’re evaluating residential income opportunities, the key takeaway here is the level of interior work completed in 2022, including insulation, electrical upgrades, and bathroom replacements.
The home is described as very conveniently located close to amenities in the city. For buyers considering a dual-use residential income property in Lynn, this recently remodeled two-family configuration is designed to support modern, straightforward occupancy.
If you’re evaluating residential income opportunities, the key takeaway here is the level of interior work completed in 2022, including insulation, electrical upgrades, and bathroom replacements.
Key Highlights
- Two‑family house built in 1910
- Complete interior remodeling completed in 2022, including gutted walls and ceilings
- 2022 upgrades include complete insulation and new electric wiring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,907
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$518,140
$518.1K
Cap Rate 7%
$370,100
$370.1K
Cap Rate 9%
$287,856
$287.9K
Market Conditions
NOI Build-Up for 1,289 SF
Gross rent
$39.4K $30.60/SF
− Vacancy
−$2.4K −$1.89/SF
EGI
$37.0K $28.71/SF
− OpEx
−$11.1K −$8.61/SF
NOI
$25.9K $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 Rate 5%
$518,140
Cap Rate 7%
$370,100
Cap Rate 9%
$287,856
Alternative Uses
Best Use
Multifamily LT 5
$370.1K
$323.8K – $431.8K
NOI $25,907 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$321.6K
$281.4K – $375.2K
NOI $22,511 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$456.1K
$399.1K – $532.1K
NOI $31,926 @ 7.0% cap · market cap 5.00%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,462
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family house with complete 2022 interior remodeling, including new electrical wiring, insulation, and bathrooms.
Where is this duplex located?
The property is located at 14 Union Ct Lynn, MA.
What is the asking price?
The asking price for this property is $639,000.
What are key features of this property?
This property features: Two‑family house built in 1910; Complete interior remodeling completed in 2022, including gutted walls and ceilings; 2022 upgrades include complete insulation and new electric wiring
