Two-Unit Duplex with
For Sale
$600,000
Pending
33 Parrott St, Lynn, MA 01902
Each residence has five rooms, with off-street parking and a small rear yard serving the property.
Property Size2,421 SF
Days on Market8
Property Features for 33 Parrott St
General Information
Standard status
Pending
Size
2,421 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
back balconies
off street parking
back yard
Building Details
Year Built
1900
Listing Agency:
Patriot Living Group, Lock And Key Realty Inc
Listed By:
Home and Key Real Estate
(508) 817-4284
Source:
Bristolcountyhomesforsale
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 5 at 6:25PM
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 Patriot Living Group, Lock And Key Realty Inc
Investment Insights
Based on property information with market context.
Built in 1900, this 2,421-square-foot duplex contains two matching five-room units. The property includes two rear balconies, a small backyard, and off-street parking. Furnaces and hot water tanks have been updated. The building requires substantial work.
The beach and public transportation are nearby. Surrounding homes include both single-family and two-family residences.
The beach and public transportation are nearby. Surrounding homes include both single-family and two-family residences.
Key Highlights
- Two matching five‑room units
- 2,421 square feet; built in 1900
- Two rear balconies and a small backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,658
Cap Rate
8.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$973,160
$973.2K
Cap Rate 7%
$695,114
$695.1K
Cap Rate 9%
$540,644
$540.6K
Market Conditions
NOI Build-Up for 2,421 SF
Gross rent
$74.1K $30.60/SF
− Vacancy
−$4.6K −$1.89/SF
EGI
$69.5K $28.71/SF
− OpEx
−$20.9K −$8.61/SF
NOI
$48.7K $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%
$973,160
Cap Rate 7%
$695,114
Cap Rate 9%
$540,644
Alternative Uses
Best Use
Multifamily LT 5
$695.1K
$608.2K – $811.0K
NOI $48,658 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$604.0K
$528.5K – $704.7K
NOI $42,280 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$856.6K
$749.5K – $999.4K
NOI $59,963 @ 7.0% cap · market cap 9.99%
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
1,886
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 - Each residence has five rooms, with off-street parking and a small rear yard serving the property.
Where is this duplex located?
The property is located at 33 Parrott St Lynn, MA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Two matching five‑room units; 2,421 square feet; built in 1900; Two rear balconies and a small backyard
