Triplex with Three True 6-Room
For Sale
$995,000
Pending
16 Dowfield Ter, Lynn, MA 01904
Three-unit triplex built in 1920 with separate utilities, in-unit washer/dryer hookups, and a private rear porch for each unit.
Property Size4,626 SF
Days on Market50
Property Features for 16 Dowfield Ter
General Information
Standard status
Pending
Size
4,626 SF
Total Parking Spaces
7
Property subtype
3 Family - 3 Units Up/Down
Additional Details
Multifamily Units
3
Amenities
washer/dryer hookups
private rear porch
Building Details
Building Size
4,626 SF
Year Built
1920
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 28
Changed: Sep 15
Last Checked: Sep 15 at 6:45AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This three-family triplex built in 1920 features three true 6-room apartments. Each unit offers over 1,500 square feet, classic double parlors, high ceilings, hardwood floors, and spacious eat-in kitchens. Apartment layouts include separate gas heat and hot water, with each unit having its own gas and electric utilities. Washer and dryer hookups are provided for each unit, along with a private rear porch.
Additional property features include vinyl replacement windows, a basement with four additional rooms and a full bath, and 7 unobstructed off-street parking spaces. The home is located on a quiet dead-end street. Lead compliance certificates are available for all 3 units.
The property is described as having long-term tenants averaging 19 years and an excellent history of on-time rent payments.
Additional property features include vinyl replacement windows, a basement with four additional rooms and a full bath, and 7 unobstructed off-street parking spaces. The home is located on a quiet dead-end street. Lead compliance certificates are available for all 3 units.
The property is described as having long-term tenants averaging 19 years and an excellent history of on-time rent payments.
Key Highlights
- Three true 6‑room apartments, each with over 1,500 SF
- Separate gas heat and hot water for each unit
- Each unit has its own gas and electric utilities plus washer and dryer hookups
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
$80,788
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
8.12%
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%
$1,615,760
$1.6M
Cap Rate 7%
$1,154,114
$1.2M
Cap Rate 9%
$897,644
$897.6K
Market Conditions
NOI Build-Up for 4,626 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
$157.1K $33.96/SF
− Vacancy
−$10.2K −$2.21/SF
EGI
$146.9K $31.75/SF
− OpEx
−$66.1K −$14.29/SF
NOI
$80.8K $17.46/SF
Area
Lynn, MA
Vacancy
6.50%
Lease Rate
$33.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,615,760
Cap Rate 7%
$1,154,114
Cap Rate 9%
$897,644
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $92,975 @ 7.0% cap · market cap 9.34%
Second Best
Apartment 5plus
$1.15M
$1.01M – $1.35M
NOI $80,788 @ 7.0% cap · market cap 8.12%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,577 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
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Business Placement
Demographics for 01904, MA
19,944
Population
7,322
Households
2.7
Avg Household Size
40
Median Age
32%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
4,749
Density / Sq Mi
$100,597
Median Household Income
$49,561
Median Earnings
$1,742
Median Rent
$515,100
Median Home Value
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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-unit triplex built in 1920 with separate utilities, in-unit washer/dryer hookups, and a private rear porch for each unit.
Where is this triplex located?
The property is located at 16 Dowfield Ter Lynn, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three true 6‑room apartments, each with over 1,500 SF; Separate gas heat and hot water for each unit; Each unit has its own gas and electric utilities plus washer and dryer hookups
