Renovated Two-Family
New
For Sale
$799,900
24 Birch St, Lynn, MA 01902
Two updated units offer a one-bedroom and four-bedroom configuration, with laundry hookups serving each apartment.
Property Size2,301 SF
Price / SF$347.78
Days on Market6
Property Features for 24 Birch St
General Information
Standard status
Active
Size
2,301 SF
Property subtype
2 Family - 2 Units Up/Down
Units
Unit Mix
1 x 1BR, 1 x 4BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,912
Amenities
private roof deck
washer/dryer hookups
paved driveway
back patio
Building Details
Building Size
2,301 SF
Year Built
1900
Buildings
1
Listing Agency:
eXp Realty LLC
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Jonathanradford
Added: Sep 22
Changed: Sep 27
Last Checked: Sep 26 at 3:43PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This duplex contains approximately 2,300 square feet across two units: an oversized one-bedroom apartment and a four-bedroom apartment. Both have new kitchens and bathrooms, along with new or refinished flooring. Improvements also include a new roof and updated electrical. The refreshed basement has washer and dryer hookups for each unit.
Outdoor features include a paved driveway, a back patio, and a private roof deck accessible from the second-floor kitchen. The property was built in 1900 and is delivered vacant, with both apartments available for occupancy or leasing.
Outdoor features include a paved driveway, a back patio, and a private roof deck accessible from the second-floor kitchen. The property was built in 1900 and is delivered vacant, with both apartments available for occupancy or leasing.
Key Highlights
- Two units: one‑bedroom and four‑bedroom layouts
- Approximately 2,300 square feet of living area
- New kitchens and bathrooms in both units; new or refinished flooring
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
$46,226
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
5.78%
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%
$924,520
$924.5K
Cap Rate 7%
$660,371
$660.4K
Cap Rate 9%
$513,622
$513.6K
Market Conditions
NOI Build-Up for 2,300 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
$70.4K $30.60/SF
− Vacancy
−$4.3K −$1.89/SF
EGI
$66.0K $28.71/SF
− OpEx
−$19.8K −$8.61/SF
NOI
$46.2K $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%
$924,520
Cap Rate 7%
$660,371
Cap Rate 9%
$513,622
Alternative Uses
Best Use
Multifamily LT 5
$660.4K
$577.8K – $770.4K
NOI $46,226 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$573.8K
$502.1K – $669.5K
NOI $40,167 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$813.8K
$712.1K – $949.4K
NOI $56,966 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
881
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
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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?
Duplex - Two updated units offer a one-bedroom and four-bedroom configuration, with laundry hookups serving each apartment.
Where is this duplex located?
The property is located at 24 Birch St Lynn, MA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Two units: one‑bedroom and four‑bedroom layouts; Approximately 2,300 square feet of living area; New kitchens and bathrooms in both units; new or refinished flooring
