Two-Family Residence with
For Sale
$825,000
Pending
48 Waverly, Lynn, MA 01904
Updated two-family home with five bedrooms and three full bathrooms, offering flexible rental income potential.
Property Size1,882 SF
Days on Market144
Property Features for 48 Waverly
General Information
Standard status
Pending
Size
1,882 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Zoning
R4
Additional Details
Multifamily Units
2
Building Details
Building Size
1,882 SF
Year Built
1990
Stories
3
Tenancy
Multi
Listing Agency:
Century 21 Mario Real Estate
Listed By:
Veraluxe Team
(508) 677-5570
Source:
Cjbarrett
Added: Apr 18
Changed: Sep 5
Last Checked: Jul 23 at 9:43AM
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 Century 21 Mario Real Estate
Investment Insights
Based on property information with market context.
This updated two-family residence, built in 1990, offers approximately 1,882 square feet of refined living space. The second-floor unit includes two full baths, two levels of living, and a large family room. The lower level can be used to generate rental income, or alternatively the home can be configured for an owner-occupant setup, living on the lower level while renting the upper unit.
The property includes five well-appointed bedrooms and three full bathrooms distributed throughout the home to support comfort and privacy for occupants and guests. With a thoughtful layout and generous proportions, the plan is designed to accommodate both traditional rental arrangements and flexible living needs.
As a two-unit property, it presents a straightforward structure for buyers seeking a residential income option with updated interiors and multiple full baths.
The property includes five well-appointed bedrooms and three full bathrooms distributed throughout the home to support comfort and privacy for occupants and guests. With a thoughtful layout and generous proportions, the plan is designed to accommodate both traditional rental arrangements and flexible living needs.
As a two-unit property, it presents a straightforward structure for buyers seeking a residential income option with updated interiors and multiple full baths.
Key Highlights
- Updated two‑family home at 48 Waverly Ave, Lynn, built in 1990
- Approx. 1,882 SF of total living space with five bedrooms
- 3 full bathrooms total, including two full baths on the second‑floor unit
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
$37,825
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
4.58%
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%
$756,500
$756.5K
Cap Rate 7%
$540,357
$540.4K
Cap Rate 9%
$420,278
$420.3K
Market Conditions
NOI Build-Up for 1,882 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
$57.6K $30.60/SF
− Vacancy
−$3.6K −$1.89/SF
EGI
$54.0K $28.71/SF
− OpEx
−$16.2K −$8.61/SF
NOI
$37.8K $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%
$756,500
Cap Rate 7%
$540,357
Cap Rate 9%
$420,278
Alternative Uses
Best Use
Multifamily LT 5
$540.4K
$472.8K – $630.4K
NOI $37,825 @ 7.0% cap · market cap 4.58%
Second Best
Apartment 5plus
$469.5K
$410.8K – $547.8K
NOI $32,867 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$665.9K
$582.7K – $776.9K
NOI $46,613 @ 7.0% cap · market cap 5.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 01904, MA
19,944
Population
7,322
Households
2.7
Avg Household Size
40
Median Age
32%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
4,749
Density / Sq Mi
$100,597
Median Household Income
$49,561
Median Earnings
$1,742
Median Rent
$515,100
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?
Duplex - Updated two-family home with five bedrooms and three full bathrooms, offering flexible rental income potential.
Where is this duplex located?
The property is located at 48 Waverly Lynn, MA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Updated two‑family home at 48 Waverly Ave, Lynn, built in 1990; Approx. 1,882 SF of total living space with five bedrooms; 3 full bathrooms total, including two full baths on the second‑floor unit
