Building Details

Year Built 1880

Buildings 1

Listing Agency: 117 Realty

Listed By: Brittany Bator Show Phone

Source: Thecharlesrealty

Added: Jun 9 Changed: Oct 17 Last Checked: Oct 16 at 8:50AM

Report an Issue

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 117 Realty

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

Built in 1880, this duplex contains two residential units with three bedrooms apiece. Both units feature generous living areas, hardwood flooring, abundant natural light, and original architectural elements. The upper residence occupies the second and third floors, adding flexibility within the layout. Separate utilities serve the units, and off-street parking is provided.

The property is located at 65-67 Phillips Avenue in Lynn, Massachusetts, at the end of a dead-end street with limited through traffic. Large front porches and mature trees contribute to the setting. Public transportation, major routes, shopping, restaurants, schools, parks, and downtown Lynn amenities are nearby.

Key Highlights

• Two‑unit duplex with 3 bedrooms in each residence
• Upper unit extends across the second and third floors
• Separate utilities for the two units

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$52,577

Cap Rate

6.74%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,051,540 $1.1M

Cap Rate 7%

$751,100 $751.1K

Cap Rate 9%

$584,189 $584.2K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,616 SF

Gross rent

$80.0K $30.60/SF

− Vacancy

−$4.9K −$1.89/SF

EGI

$75.1K $28.71/SF

− OpEx

−$22.5K −$8.61/SF

NOI

$52.6K $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%

$1,051,540

Cap Rate 7%

$751,100

Cap Rate 9%

$584,189

Alternative Uses

Best Use

Multifamily LT 5

$751.1K

$657.2K – $876.3K (±1% cap)

NOI $52,577 @ 7.0% cap · market cap 6.74%

Second Best

Apartment 5plus

$652.7K

$571.1K – $761.4K (±1% cap)

NOI $45,686 @ 7.0% cap · market cap 5.86%

Theoretical Best

Office A

$925.6K

$809.9K – $1.08M (±1% cap)

NOI $64,793 @ 7.0% cap · market cap 8.31%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Acupuncture Computer & Electronic Repair Tech Support Center Travel Agency Skin Care Clinic

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

Paved road access

Location Intelligence

Trade Area within ½ mile

1,083

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Similar For Sale Nearby

See more

Duplex with Enclosed Porches

11-11A Concord St, Lynn, MA 01902

$799,999

2,658 SF

View details

Duplex with Two-Car Garage

112 Bellevue Rd, Lynn, MA 01904

$849,900

2,584 SF

View details

Two-Unit Residential Income Duplex

6 Hampden Pl, Lynn, MA 01902

$749,999

2,803 SF

View details

Two-Family Duplex Property

50-52 Allen Ave, Lynn, MA 01902

$799,999

2,411 SF

View details

Multifamily Property with Off-Street Parking

48 Saratoga St, Lynn, MA 01902

$799,000

2,844 SF

View details

Two-Family Duplex with Bonus Room

78 Western Ave, Lynn, MA 01904

$850,000

2,432 SF

View details

Duplex with Private Entrances

382 Eastern Avenue, Lynn, MA 01902

$809,000

2,352 SF

View details

Renovated Duplex with Income Potential

12 Howard St, Lynn, MA 01902

$630,525

2,499 SF

View details

New Construction Duplex

20 Bellair St, Lynn, MA 01902

$1,210,000

2,660 SF

View details

Detached Two-Family Property

79 Johnson St, Lynn, MA 01902

$1,100,000

View details

Two-Family Residential Income Property

51 High Rock Street, Lynn, MA 01902

$865,000

3,245 SF

View details

Two-Family Residence

105 Lawton Avenue, Lynn, MA 01902

$740,000

1,870 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Two residential units offer hardwood floors, private porches, off-street parking, and convenient access to transit and downtown amenities.

Where is this duplex located?

The property is located at 65-67 Phillips Avenue Lynn, MA.

What is the asking price?

The asking price for this property is $780,000.

What are key features of this property?

This property features: Two‑unit duplex with 3 bedrooms in each residence; Upper unit extends across the second and third floors; Separate utilities for the two units