Two-Family Duplex with Townhouse-Style
171 Chatham St, Lynn, MA 01902
For Sale
New
$699,900
Two separate residences offer a renovated two-bedroom layout and a four-bedroom home arranged across two floors.
Property Size1,931 SF
Days on Market4
Property Features for 171 Chatham St
General Information
Standard status
Size
Property subtype
Site & Location
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Stories
Units
Listed By:
Sean Connolly · License #9528576
(614) 327-2093
Source:
Elliman
Added: Nov 6
Last Checked: Nov 8 at 6:54AM
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 Sean Connolly
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Investment Insights
Based on property information with market context.
This duplex contains two residences totaling six bedrooms. The updated unit has two bedrooms, newer appliances and cabinets, and a refreshed bathroom. The second residence is a four-bedroom townhouse-style layout on two floors, with a large living room. Separate utilities serve the units, and deleaded units have certificates. The exterior is described as maintenance-free, and the property was built in 1900.
Set back from the main road, the property is near schools, shopping, restaurants, and public transportation. Walk Score is 89, Bike Score is 63, and Transit Score is 45.
Set back from the main road, the property is near schools, shopping, restaurants, and public transportation. Walk Score is 89, Bike Score is 63, and Transit Score is 45.
Key Highlights
- Two‑family duplex with six bedrooms total
- Separate utilities for the residences
- Two‑bedroom unit has newer appliances, cabinets, and an updated bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,810
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$776,200
$776.2K
Cap Rate 7%
$554,429
$554.4K
Cap Rate 9%
$431,222
$431.2K
Market Conditions
NOI Build-Up for 1,931 SF
Gross rent
$59.1K $30.60/SF
− Vacancy
−$3.6K −$1.89/SF
EGI
$55.4K $28.71/SF
− OpEx
−$16.6K −$8.61/SF
NOI
$38.8K $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%
$776,200
Cap Rate 7%
$554,429
Cap Rate 9%
$431,222
Alternative Uses
Best Use
Multifamily LT 5
$554.4K
$485.1K – $646.8K
NOI $38,810 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$481.8K
$421.5K – $562.1K
NOI $33,723 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$683.2K
$597.8K – $797.1K
NOI $47,827 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,825
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
$456,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Lynn, MA
Properties on Market for Duplexes in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a renovated two-bedroom layout and a four-bedroom home arranged across two floors.
Where is this duplex located?
The property is located at 171 Chatham St Lynn, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Two‑family duplex with six bedrooms total; Separate utilities for the residences; Two‑bedroom unit has newer appliances, cabinets, and an updated bathroom
