Two-Family Residential
238 Essex Street Lynn, MA 01902
For Sale
$779,900
Pending
Large two-family with two move-in-ready units and ample off-street parking with a detached garage.
Property Size2,194 SF
Days on Market167
Property Features for 238 Essex Street
General Information
- Standard status
- Pending
- Size
- 2,194 SF
- Property subtype
- Multi-family / 2 Family
Building Details
- Year Built
- 1890
Listing Agency:
Cameron Real Estate Group
(781) 486-3180
Listed By:
Bob DeVito · License #9084980
(781) 486-3180
Source:
Compass
Added: Feb 6
Changed: Jul 21
Last Checked: Jul 22 at 11:04AM
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 Cameron Real Estate Group
Investment Insights
Based on property information with market context.
This large two-family residential property presents two move-in-ready units, both delivered vacant. The first unit includes two large bedrooms, an eat-in kitchen, and a large living room. The owner unit is townhouse style with four full-sized bedrooms, a large kitchen, and a big living room.
The property offers tons of off-street parking and includes a detached garage. Showing appointments are coordinated through ShowingTime.
Offered for sale, this is suited for either an owner-occupied buyer or an investor looking for a straightforward two-unit configuration with independent vacancy readiness.
The property offers tons of off-street parking and includes a detached garage. Showing appointments are coordinated through ShowingTime.
Offered for sale, this is suited for either an owner-occupied buyer or an investor looking for a straightforward two-unit configuration with independent vacancy readiness.
Key Highlights
- Large 2‑family with both units move‑in ready and delivered vacant
- Total of 2 full baths, with a full basement
- Wooded lot with porch and frame construction plus shingle roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.1k | $30.60 |
| − Vacancy | −$4.1k | −$1.89 |
| EGI | $63.0k | $28.71 |
| − OpEx | −$18.9k | −$8.61 |
| NOI | $44.1k | $20.10 |
2,194 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$629.9K
$551.2K – $734.9K
NOI $44,096 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$547.4K
$479.0K – $638.6K
NOI $38,316 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$776.3K
$679.3K – $905.7K
NOI $54,341 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Large two-family with two move-in-ready units and ample off-street parking with a detached garage.
Where is this duplex located?
The property is located at 238 Essex Street Lynn, MA.
What is the asking price?
The asking price for this property is $779,900.
What are key features of this property?
This property features: Large 2‑family with both units move‑in ready and delivered vacant; Total of 2 full baths, with a full basement; Wooded lot with porch and frame construction plus shingle roof
