Side-by-Side Duplex with
For Sale
$799,900
291 Parkland Avenue, Lynn, MA 01905
R2-zoned two-family property with separate laundry hookups and a level fenced yard.
Property Size1,365 SF
Price / SF$586.01
Days on Market145
Property Features for 291 Parkland Avenue
General Information
Standard status
Active
Size
1,365 SF
Total Parking Spaces
6
Property subtype
Multi-family / 2 Family - 2 Units Side by Side
Zoning
R2
Net Operating Income
$55,200
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,710
Amenities
large backyard
oversized deck
large shed
separate laundry hookups
No
Wood, Tile, Carpet, Hardwood
Range, Disposal, Refrigerator, Washer, Dryer, Range Hood
2.0
Skylight(s), Insulated Windows
Washer & Dryer Hookup
Crawl, Partially Finished, Walk Out, Sump Pump, Concrete Floor, Unfinished Basement
Ceiling Fan(s), Storage, Bathroom With Tub & Shower, Living Room, Kitchen, Laundry Room, Window AC
2
2.00
Fenced/Enclosed, Fenced
Frame
Shingle
Level
Shed(s)
Rain Gutters, Sprinkler System, Fenced Yard, Porch, Deck - Wood
Porch, Deck - Wood
Building Details
Year Built
1897
Buildings
1
Listing Agency:
Return Realty Group, Inc.
(617) 913-2722
Listed By:
Paul Atwood · License #9535830
(617) 913-2722
Source:
Compass
Added: Apr 9
Changed: Aug 31
Last Checked: Aug 31 at 2:48AM
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 Return Realty Group, Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residential units, each with two updated bedrooms, a living room, kitchen, bathroom, and separate laundry hookups. The 1,365-square-foot property also includes appliances, mixed flooring, insulated windows, crawl and partially finished basement areas, and window AC. The home was built in 1897 and is zoned R2.
Outdoor features include a level fenced yard, oversized wood deck, porch, storage shed, and sprinkler system. Ample off-street parking accommodates multiple vehicles. Located on Parkland Avenue in Lynn, the property offers access to major highways, shopping, dining, and local amenities.
Outdoor features include a level fenced yard, oversized wood deck, porch, storage shed, and sprinkler system. Ample off-street parking accommodates multiple vehicles. Located on Parkland Avenue in Lynn, the property offers access to major highways, shopping, dining, and local amenities.
Key Highlights
- Two‑unit side‑by‑side duplex with 2 bedrooms in each unit
- 1,365 square feet with R2 zoning
- Separate laundry hookups for both units
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
$27,434
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
3.43%
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%
$548,680
$548.7K
Cap Rate 7%
$391,914
$391.9K
Cap Rate 9%
$304,822
$304.8K
Market Conditions
NOI Build-Up for 1,365 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
$41.8K $30.60/SF
− Vacancy
−$2.6K −$1.89/SF
EGI
$39.2K $28.71/SF
− OpEx
−$11.8K −$8.61/SF
NOI
$27.4K $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%
$548,680
Cap Rate 7%
$391,914
Cap Rate 9%
$304,822
Alternative Uses
Best Use
Multifamily LT 5
$391.9K
$342.9K – $457.2K
NOI $27,434 @ 7.0% cap · market cap 3.43%
Second Best
Apartment 5plus
$340.5K
$298.0K – $397.3K
NOI $23,838 @ 7.0% cap · market cap 2.98%
Theoretical Best
Office A
$483.0K
$422.6K – $563.5K
NOI $33,808 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
253
Businesses Nearby
Explore this area
Business Placement
Demographics for 01905, MA
27,761
Population
9,583
Households
2.9
Avg Household Size
34
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
8,955
Density / Sq Mi
$84,341
Median Household Income
$42,983
Median Earnings
$1,749
Median Rent
$443,200
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?
Duplex - R2-zoned two-family property with separate laundry hookups and a level fenced yard.
Where is this duplex located?
The property is located at 291 Parkland Avenue 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‑unit side‑by‑side duplex with 2 bedrooms in each unit; 1,365 square feet with R2 zoning; Separate laundry hookups for both units
