Renovated Multifamily
New
For Sale
$750,000
16 Estes Street, Lynn, MA 01902
The second-floor residence spans two levels and features multiple rooms in a flexible layout.
Property Size2,225 SF
Price / SF$337.08
Days on Market5
Property Features for 16 Estes Street
General Information
Standard status
Active
Size
2,225 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Building Details
Building Size
2,225 SF
Year Built
1880
Listing Agency:
Tropical Realty
Listed By:
Sonia Lithgow
(781) 581-7900
Source:
Iverty
Added: Oct 1
Changed: Oct 4
Last Checked: Oct 4 at 10:02AM
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 Tropical Realty
Investment Insights
Based on property information with market context.
This 2,225-square-foot multifamily property was built in 1880 and has undergone recent renovations. Its second-floor unit occupies two levels, with multiple rooms arranged in a flexible floor plan.
Shopping, public transportation, and schools are nearby. The property is located at 16 Estes Street in Lynn, Massachusetts.
Shopping, public transportation, and schools are nearby. The property is located at 16 Estes Street in Lynn, Massachusetts.
Key Highlights
- 2,225‑square‑foot multifamily property
- Second‑floor unit spans two levels
- Recent renovations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,857
Cap Rate
5.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,140
$777.1K
Cap Rate 7%
$555,100
$555.1K
Cap Rate 9%
$431,744
$431.7K
Market Conditions
NOI Build-Up for 2,225 SF
Gross rent
$75.6K $33.96/SF
− Vacancy
−$4.9K −$2.21/SF
EGI
$70.6K $31.75/SF
− OpEx
−$31.8K −$14.29/SF
NOI
$38.9K $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 Rate 5%
$777,140
Cap Rate 7%
$555,100
Cap Rate 9%
$431,744
Alternative Uses
Best Use
Apartment 5plus
$555.1K
$485.7K – $647.6K
NOI $38,857 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$787.3K
$688.9K – $918.5K
NOI $55,109 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,917
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?
Multifamily property - The second-floor residence spans two levels and features multiple rooms in a flexible layout.
Where is this multifamily property located?
The property is located at 16 Estes Street Lynn, MA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 2,225‑square‑foot multifamily property; Second‑floor unit spans two levels; Recent renovations
