Three-Family Property with
For Sale
$950,000
2 Mace Pl, Lynn, MA 01902
Residential Income, Lynn, MA
Property Size4,432 SF
Lot Size0.07 Acres
Price / SF$214.35
Days on Market8
Property Features for 2 Mace Pl
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
10
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 9, Bedroom 8, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 7, Bedroom 6, Bedroom 10, Bedroom 1
Parking
2
Directions
Broad Street to Breed Street to Mace Place
Standard status
Active
APN
M:093 B:568 L:041,2001551
Size
4,432 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
10388
Amenities
private porches and decks
enclosed storage areas
Building Details
Year built
1910
Floors in Building
3
Number of units
3
Listing Agency:
Keller Williams Realty Evolution
(978) 927-8700
Listed By:
Keller Williams Realty Evolution
Added: Aug 19
Changed: Aug 25
Last Checked: Aug 26 at 12:06AM
MLS# 73556663
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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 three bedrooms, while the top-floor unit provides four bedrooms plus an office or den. High ceilings, original architectural character, private porches and decks, and functional layouts define the residential spaces.
The property occupies 0.0735 acres and includes two off-street parking spaces, enclosed storage, and a basement with two additional rooms and a full bath. Lead compliance certificates are available for all three units. Located in Lynn, Massachusetts, the property is less than one-half mile from the beach and offers access to restaurants, public transportation, and commuter routes.
The property occupies 0.0735 acres and includes two off-street parking spaces, enclosed storage, and a basement with two additional rooms and a full bath. Lead compliance certificates are available for all three units. Located in Lynn, Massachusetts, the property is less than one-half mile from the beach and offers access to restaurants, public transportation, and commuter routes.
Key Highlights
- 4,432‑square‑foot triplex with three apartments
- First- and second‑floor units each have 3 bedrooms
- Third‑floor apartment includes 4 bedrooms and an office/den
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
$77,400
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
8.15%
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%
$1,548,000
$1.5M
Cap Rate 7%
$1,105,714
$1.1M
Cap Rate 9%
$860,000
$860.0K
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
$150.5K $33.96/SF
− Vacancy
−$9.8K −$2.21/SF
EGI
$140.7K $31.75/SF
− OpEx
−$63.3K −$14.29/SF
NOI
$77.4K $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%
$1,548,000
Cap Rate 7%
$1,105,714
Cap Rate 9%
$860,000
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.48M
NOI $89,076 @ 7.0% cap · market cap 9.38%
Second Best
Apartment 5plus
$1.11M
$967.5K – $1.29M
NOI $77,400 @ 7.0% cap · market cap 8.15%
Theoretical Best
Office A
$1.57M
$1.37M – $1.83M
NOI $109,772 @ 7.0% cap · market cap 11.55%
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 - Multifamily asset with varied apartment layouts, off-street parking, and flexible lower-level space.
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 $950,000.
What are key features of this property?
This property features: 4,432‑square‑foot triplex with three apartments; First- and second‑floor units each have 3 bedrooms; Third‑floor apartment includes 4 bedrooms and an office/den
