Building Details

Year Built 1997

Construction Cape

Listing Agency: Coldwell Banker Realty - Boston

Listed By: Ricardo Rodriguez & Associates Group Show Phone

Source: Thecharlesrealty

Added: Sep 30 Changed: Oct 4 Last Checked: Oct 4 at 9:27AM

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Investment Insights

Based on property information with market context.

This 6,899-square-foot extended Cape, built in 1997, contains a main residence and a full legal in-law area. The main home includes an eat-in kitchen, formal dining room, family room with a floor-to-ceiling stone fireplace, and a dedicated office. Its first-floor primary suite has a fireplace, sitting area, two walk-in closets, and an en-suite bath with a soaking tub and steam shower. Additional bedrooms have en-suite or Jack-and-Jill baths, and an upper-level loft offers another finished living area. Unfinished attic areas and a basement provide storage space.

The in-law area has an open kitchen, dining and living space, plus a primary suite with a private bath, walk-in closet, and office. Mature landscaping surrounds the property. Local schools, MarketStreet Lynnfield, Whole Foods Market, recreation areas, I-95/Route 128, and Route 1 are among the nearby destinations and routes.

Key Highlights

• 6,899‑square‑foot extended Cape built in 1997
• Full legal in‑law area with open kitchen, dining and living spaces
• Main residence includes a first‑floor primary suite with fireplace and sitting area

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$104,909

Cap Rate

3.82%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,098,180 $2.1M

Cap Rate 7%

$1,498,700 $1.5M

Cap Rate 9%

$1,165,656 $1.2M

Market Conditions

NOI Build-Up for 6,899 SF

Gross rent

$198.7K $28.80/SF

− Vacancy

−$7.9K −$1.15/SF

EGI

$190.7K $27.65/SF

− OpEx

−$85.8K −$12.44/SF

NOI

$104.9K $15.21/SF

Area

Essex County, MA

Vacancy

4.00%

Lease Rate

$28.80 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,098,180

Cap Rate 7%

$1,498,700

Cap Rate 9%

$1,165,656

Alternative Uses

Best Use

Apartment 5plus

$1.50M

$1.31M – $1.75M (±1% cap)

NOI $104,909 @ 7.0% cap · market cap 3.82%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$4.08M

$3.57M – $4.76M (±1% cap)

NOI $285,893 @ 7.0% cap · market cap 10.40%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Dental Office Restaurant Parking Lot & Garage Spa & Massage Center Pharmacy Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

199

Businesses Nearby

Explore this area Business Placement

Demographics for 01940, MA

13,326

Population

5,033

Households

2.6

Avg Household Size

44

Median Age

61%

College-Educated

98%

High-School Grad

10.1 sq mi

ZIP Area

1,319

Density / Sq Mi

$171,044

Median Household Income

$86,135

Median Earnings

$2,333

Median Rent

$891,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two connected living areas combine a full legal in-law suite with flexible space for multigenerational households.

Where is this multifamily property located?

The property is located at 5 Elizabeth Way Lynnfield, MA.

What is the asking price?

The asking price for this property is $2,749,000.

What are key features of this property?

This property features: 6,899‑square‑foot extended Cape built in 1997; Full legal in‑law area with open kitchen, dining and living spaces; Main residence includes a first‑floor primary suite with fireplace and sitting area