Vacant Two-Family Residential
55 Lovers Leap Ave, Lynn, MA 01904
For Sale
$789,900
Pending
Well-maintained 2-family with hardwood floors, updated windows and roof, and a walk-out basement on a fenced corner lot.
Property Size2,285 SF
Days on Market227
Property Features for 55 Lovers Leap Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Fenced Yard
Multifamily Units
Building Details
Building Size
Year Built
Stories
Tenancy
Listing Agency:
RE/MAX 360
Listed By:
Katie DiVirgilio · License MA #9516912
(617) 285-9847
Source:
Cjbarrett
Added: Apr 1
Changed: Nov 9
Last Checked: May 28 at 5:47AM
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 RE/MAX 360
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This well-maintained two-family residence is larger than it appears and is offered vacant and ready for a new owner. The property features a mansard roof and hardwood flooring, with updates that include replacement windows, a newer roof, CB electric panels, and a repaved driveway. Interior highlights include first-floor living with a large bow window, wall AC units, ceiling fans, an eat-in kitchen, and flexible dining/den space, along with bedrooms that offer large, lighted double closets.
The second-floor unit offers bright living with hardwood floors, wall AC, ceiling fans, and a sunny kitchen, with 2–3 bedrooms. A huge, clean, well-lit basement provides substantial additional storage, including separate utilities and laundry, and includes walk-out access to the yard.
Outside, the home sits on a large, level fenced corner lot with sprinklers. The driveway provides parking for approximately 3–4 cars.
The second-floor unit offers bright living with hardwood floors, wall AC, ceiling fans, and a sunny kitchen, with 2–3 bedrooms. A huge, clean, well-lit basement provides substantial additional storage, including separate utilities and laundry, and includes walk-out access to the yard.
Outside, the home sits on a large, level fenced corner lot with sprinklers. The driveway provides parking for approximately 3–4 cars.
Key Highlights
- Well‑maintained 2‑family built in 1910 with hardwood floors throughout and a corner lot
- Updates include replacement windows, newer roof, and CB electric panels
- Vacant property with driveway repaved and parking for 3–4 cars
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,925
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$918,500
$918.5K
Cap Rate 7%
$656,071
$656.1K
Cap Rate 9%
$510,278
$510.3K
Market Conditions
NOI Build-Up for 2,285 SF
Gross rent
$69.9K $30.60/SF
− Vacancy
−$4.3K −$1.89/SF
EGI
$65.6K $28.71/SF
− OpEx
−$19.7K −$8.61/SF
NOI
$45.9K $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%
$918,500
Cap Rate 7%
$656,071
Cap Rate 9%
$510,278
Alternative Uses
Best Use
Multifamily LT 5
$656.1K
$574.1K – $765.4K
NOI $45,925 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$570.1K
$498.8K – $665.1K
NOI $39,905 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$808.5K
$707.4K – $943.3K
NOI $56,595 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
814
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
$515,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Lynn, MA
Properties on Market for Duplexes in Lynn
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained 2-family with hardwood floors, updated windows and roof, and a walk-out basement on a fenced corner lot.
Where is this duplex located?
The property is located at 55 Lovers Leap Ave Lynn, MA.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: Well‑maintained 2‑family built in 1910 with hardwood floors throughout and a corner lot; Updates include replacement windows, newer roof, and CB electric panels; Vacant property with driveway repaved and parking for 3–4 cars
