3-Unit Multifamily with Private Outdoor
New
For Sale
$1,100,000
2 Mace Pl, Lynn, MA 01902
Three apartments feature spacious layouts, private porches or decks, and supplemental basement rooms with a full bath.
Property Size4,432 SF
Price / SF$248.19
Days on Market4
Property Features for 2 Mace Pl
General Information
Standard status
Active
Size
4,432 SF
Total Parking Spaces
2
Property subtype
3 Family
Units
Unit Mix
2 x 3BR, 1 x 4BR
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
private porches and decks
basement with two additional rooms and a full bath
enclosed storage areas
Building Details
Year Built
1910
Stories
3
Listing Agency:
Keller Williams Realty Evolution
(978) 882-4623
Listed By:
DalBon & Company
(978) 882-4623
Source:
Lockandkeyre
Added: Aug 19
Changed: Aug 22
Last Checked: Aug 22 at 4:50AM
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 Keller Williams Realty Evolution
Investment Insights
Based on property information with market context.
This 1910 triplex contains 4,432 square feet of living space across three apartments. The first- and second-floor residences each include 3 bedrooms, while the top-floor unit offers 4 bedrooms plus an office or den. High ceilings, original architectural character, and practical layouts define the interior configuration.
The property also provides 2 off-street parking spaces, private porches and decks, enclosed storage areas, and a basement with 2 additional rooms and a full bath. It is located in Lynn’s Diamond District, less than one-half mile from the beach, with access to restaurants, public transportation, and commuter routes.
The property also provides 2 off-street parking spaces, private porches and decks, enclosed storage areas, and a basement with 2 additional rooms and a full bath. It is located in Lynn’s Diamond District, less than one-half mile from the beach, with access to restaurants, public transportation, and commuter routes.
Key Highlights
- 4,432 SF triplex built in 1910
- Three apartments: 3 bedrooms on the first and second floors; 4 bedrooms plus office/den on the third
- 2 off‑street parking spaces
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
$89,076
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
8.10%
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%
$1,781,520
$1.8M
Cap Rate 7%
$1,272,514
$1.3M
Cap Rate 9%
$989,733
$989.7K
Market Conditions
NOI Build-Up for 4,432 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
$135.6K $30.60/SF
− Vacancy
−$8.4K −$1.89/SF
EGI
$127.3K $28.71/SF
− OpEx
−$38.2K −$8.61/SF
NOI
$89.1K $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 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%
$1,781,520
Cap Rate 7%
$1,272,514
Cap Rate 9%
$989,733
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $89,076 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$1.11M
$967.5K – $1.29M
NOI $77,400 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,772 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,250
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments feature spacious layouts, private porches or decks, and supplemental basement rooms with a full bath.
Where is this triplex located?
The property is located at 2 Mace Pl Lynn, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 4,432 SF triplex built in 1910; Three apartments: 3 bedrooms on the first and second floors; 4 bedrooms plus office/den on the third; 2 off‑street parking spaces
