Renovated Two-Family
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$347.63
Days on Market14
Property Features for 24 Birch St
General Information
Standard status
Active
Size
2,301 SF
Property subtype
Residential Income
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
Buildings
1
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
Candor Investment Group
(978) 710-5616
Source:
Exprealty
Added: Sep 22
Changed: Oct 2
Last Checked: Oct 4 at 3:50PM
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 / Yr
$46,246
Cap Rate
5.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$924,920
$924.9K
Cap Rate 7%
$660,657
$660.7K
Cap Rate 9%
$513,844
$513.8K
Market Conditions
NOI Build-Up for 2,301 SF
Gross rent
$70.4K $30.60/SF
− Vacancy
−$4.3K −$1.89/SF
EGI
$66.1K $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 Rate 5%
$924,920
Cap Rate 7%
$660,657
Cap Rate 9%
$513,844
Alternative Uses
Best Use
Multifamily LT 5
$660.7K
$578.1K – $770.8K
NOI $46,246 @ 7.0% cap · market cap 5.78%
Second Best
Apartment 5plus
$574.1K
$502.3K – $669.8K
NOI $40,185 @ 7.0% cap · market cap 5.02%
Theoretical Best
Office A
$814.2K
$712.4K – $949.9K
NOI $56,991 @ 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
