2-Unit Duplex with Separate
New
For Sale
$699,900
588 Lincoln Avenue, Saugus, MA 01906
Two distinct residences include a first-floor apartment and a larger townhouse-style home spanning two levels.
Property Size2,394 SF
Days on Market4
Property Features for 588 Lincoln Avenue
General Information
Standard status
Active
Size
2,394 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,965
Building Details
Building Size
2,394 SF
Year Built
1910
Listing Agency:
Berkshire Hathaway HomeServices Commonwealth Real Estate
Listed By:
Wendy Carpenito
(781) 233-7300
Source:
Allisonmazer
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 10:20AM
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 Berkshire Hathaway HomeServices Commonwealth Real Estate
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Investment Insights
Based on property information with market context.
Built in 1910, this 2,394-square-foot duplex contains two separate residences. The first-floor unit has four rooms, two bedrooms, an eat-in kitchen, and a full bath. The upper residence spans two levels and includes seven rooms, four bedrooms, one and a half baths, an eat-in kitchen, a dining room, and an enclosed porch on the second floor.
Each unit has separate gas heat and electric service. The property also has a level yard and a double-width driveway providing off-street parking. It is located just outside Cliftondale Square, on a bus line, at 588 Lincoln Avenue in Saugus.
Each unit has separate gas heat and electric service. The property also has a level yard and a double-width driveway providing off-street parking. It is located just outside Cliftondale Square, on a bus line, at 588 Lincoln Avenue in Saugus.
Key Highlights
- 2,394‑square‑foot duplex built in 1910
- First‑floor unit has 4 rooms, 2 bedrooms, an eat‑in kitchen, and a full bath
- Upper residence spans two levels, with 7 rooms, 4 bedrooms, 1 ½ baths, and an enclosed second‑floor porch
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,330
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,600
$806.6K
Cap Rate 7%
$576,143
$576.1K
Cap Rate 9%
$448,111
$448.1K
Market Conditions
NOI Build-Up for 2,394 SF
Gross rent
$60.3K $25.20/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$57.6K $24.07/SF
− OpEx
−$17.3K −$7.22/SF
NOI
$40.3K $16.85/SF
Area
Essex County, MA
Vacancy
4.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$806,600
Cap Rate 7%
$576,143
Cap Rate 9%
$448,111
Alternative Uses
Best Use
Multifamily LT 5
$576.1K
$504.1K – $672.2K
NOI $40,330 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$520.1K
$455.1K – $606.7K
NOI $36,404 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$1.42M
$1.24M – $1.65M
NOI $99,207 @ 7.0% cap · market cap 14.17%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
423
Businesses Nearby
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Business Placement
Demographics for 01906, MA
28,619
Population
11,259
Households
2.5
Avg Household Size
45
Median Age
31%
College-Educated
91%
High-School Grad
11.6 sq mi
ZIP Area
2,467
Density / Sq Mi
$100,819
Median Household Income
$52,189
Median Earnings
$1,982
Median Rent
$589,500
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 - Two distinct residences include a first-floor apartment and a larger townhouse-style home spanning two levels.
Where is this duplex located?
The property is located at 588 Lincoln Avenue Saugus, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 2,394‑square‑foot duplex built in 1910; First‑floor unit has 4 rooms, 2 bedrooms, an eat‑in kitchen, and a full bath; Upper residence spans two levels, with 7 rooms, 4 bedrooms, 1 ½ baths, and an enclosed second‑floor porch
