Two-Family Residential Income
15 Flint Street Lynn, MA 01905
15 Flint Street, Lynn, MA, 01905
$799,900
For Sale
$799,900
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 Market60
Property Features for 15 Flint Street
General Information
- Standard status
- Active
- Size
- 1,988 SF
- Property subtype
- Multi-family / 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1900
Listing agency
RE/MAX 360
(978) 560-8500
Listed by
Katie DiVirgilio · License #9516912
(978) 560-8500
Source
Compass
Added: May 25 Updated: Jul 22 at 2:19PM Checked: Jul 22 at 2:19PM
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
Local Financial Insights For Multifamily LT 5
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 | $60.8k | $30.60 |
| − Vacancy | −$3.8k | −$1.89 |
| EGI | $57.1k | $28.71 |
| − OpEx | −$17.1k | −$8.61 |
| NOI | $40.0k | $20.10 |
1,988 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
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
