Multifamily Property with Off-Street
For Sale
$899,412
48 Saratoga St, Lynn, MA 01902
Residential income property with central air, natural gas service, and a fenced exterior.
Property Size2,844 SF
Price / SF$316.25
Days on Market136
Property Features for 48 Saratoga St
General Information
Standard status
Active
Size
2,844 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
R1
Net Operating Income
$38,400
Taxes and HOA fees
Annual Taxes
$8,396
Amenities
Pool, Tennis Court(s), Park, Golf
Central Air, Ceiling Fan(s)
Natural Gas, Zoned
Full, Partially Finished, Walk-Out Access, Interior Entry, Concrete
Gas Water Heater
Ceiling Fan(s), Pantry
Fenced
Paved, Off Street
Building Details
Building Size
2,844 SF
Year Built
1927
Stories
3
Listing Agency:
Leading Edge Real Estate
(617) 771-9376
Listed By:
The Bill Butler Group
(617) 771-9376
Source:
Evrealestate
Added: Mar 31
Changed: Aug 10
Last Checked: Aug 12 at 5:14AM
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 Leading Edge Real Estate
Investment Insights
Based on property information with market context.
This 2,844-square-foot multifamily property at 48 Saratoga St in Lynn, Massachusetts, was built in 1927 and is zoned R1. Interior features include central air, ceiling fans, natural gas service, zoned systems, and a gas water heater. The property also offers a pantry, along with a full, partially finished lower level featuring walk-out access, interior entry, and concrete construction.
Exterior improvements include fencing and paved off-street parking. The property is reached via Western to Fay to Saratoga and is located in Essex County.
Exterior improvements include fencing and paved off-street parking. The property is reached via Western to Fay to Saratoga and is located in Essex County.
Key Highlights
- 2,844‑square‑foot multifamily property built in 1927
- Zoned R1
- Central air, ceiling fans, and natural gas service
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
$57,160
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
6.36%
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%
$1,143,200
$1.1M
Cap Rate 7%
$816,571
$816.6K
Cap Rate 9%
$635,111
$635.1K
Market Conditions
NOI Build-Up for 2,844 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
$87.0K $30.60/SF
− Vacancy
−$5.4K −$1.89/SF
EGI
$81.7K $28.71/SF
− OpEx
−$24.5K −$8.61/SF
NOI
$57.2K $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%
$1,143,200
Cap Rate 7%
$816,571
Cap Rate 9%
$635,111
Alternative Uses
Best Use
Multifamily LT 5
$816.6K
$714.5K – $952.7K
NOI $57,160 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$709.5K
$620.8K – $827.8K
NOI $49,667 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.01M
$880.5K – $1.17M
NOI $70,440 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
703
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property with central air, natural gas service, and a fenced exterior.
Where is this multifamily property located?
The property is located at 48 Saratoga St Lynn, MA.
What is the asking price?
The asking price for this property is $899,412.
What are key features of this property?
This property features: 2,844‑square‑foot multifamily property built in 1927; Zoned R1; Central air, ceiling fans, and natural gas service
