2-Unit Duplex with
For Sale
$769,986
48 Breed Street, Lynn, MA 01902
Vacant property combines two residences with generous parking and outdoor space.
Property Size2,958 SF
Price / SF$260.31
Days on Market10
Property Features for 48 Breed Street
General Information
Standard status
Active
Size
2,958 SF
Total Parking Spaces
12
Property subtype
Multi-family
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1890
Buildings
1
Listing Agency:
United Brokers
Listed By:
Matt Tasgin · License #9586146
(857) 361-8584
Source:
Jbarrettrealty
Added: Oct 20
Changed: Oct 28
Last Checked: Oct 28 at 9:12AM
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 United Brokers
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Investment Insights
Based on property information with market context.
This vacant duplex contains 2,958 square feet, with 14 rooms, 5 bedrooms, and 3 full baths across its two residences. The first-floor unit has a private entrance, three bedrooms, a living room, kitchen, dining room, and full bath. Upstairs are two bedrooms, including a primary suite with an en-suite bath, plus a second full bathroom. A walk-up attic offers potential for two additional rooms. Updated roofing, polished hardwood floors, fresh interior paint, and updated kitchens and bathrooms are among the property’s features.
Parking includes a side-by-side driveway accommodating up to 10 cars and an oversized two-car garage; a shed provides additional storage. The property also has a basement, backyard, and second-floor deck with some ocean views. It is near the beach, commuter rail, MBTA bus routes, shopping, and dining in Lynn’s Diamond District.
Parking includes a side-by-side driveway accommodating up to 10 cars and an oversized two-car garage; a shed provides additional storage. The property also has a basement, backyard, and second-floor deck with some ocean views. It is near the beach, commuter rail, MBTA bus routes, shopping, and dining in Lynn’s Diamond District.
Key Highlights
- Two‑family duplex with 14 rooms, 5 bedrooms, and 3 full baths
- 2,958 square feet; walk‑up attic with potential for two additional rooms
- Side‑by‑side driveway accommodates up to 10 cars, plus an oversized two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,451
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,189,020
$1.2M
Cap Rate 7%
$849,300
$849.3K
Cap Rate 9%
$660,567
$660.6K
Market Conditions
NOI Build-Up for 2,958 SF
Gross rent
$90.5K $30.60/SF
− Vacancy
−$5.6K −$1.89/SF
EGI
$84.9K $28.71/SF
− OpEx
−$25.5K −$8.61/SF
NOI
$59.5K $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%
$1,189,020
Cap Rate 7%
$849,300
Cap Rate 9%
$660,567
Alternative Uses
Best Use
Multifamily LT 5
$849.3K
$743.1K – $990.9K
NOI $59,451 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$738.0K
$645.7K – $861.0K
NOI $51,658 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$1.05M
$915.8K – $1.22M
NOI $73,264 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,250
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Vacant property combines two residences with generous parking and outdoor space.
Where is this duplex located?
The property is located at 48 Breed Street Lynn, MA.
What is the asking price?
The asking price for this property is $769,986.
What are key features of this property?
This property features: Two‑family duplex with 14 rooms, 5 bedrooms, and 3 full baths; 2,958 square feet; walk‑up attic with potential for two additional rooms; Side‑by‑side driveway accommodates up to 10 cars, plus an oversized two‑car garage
