Two-Unit Duplex with Vacant Second
New
For Sale
$775,000
686-a Boston Street, Lynn, MA 01905
Duplex offering an occupied first-floor unit and a vacant second-floor unit for flexible residential use.
Property Size1,713 SF
Price / SF$452.42
Days on Market6
Property Features for 686-a Boston Street
General Information
Standard status
Active
Size
1,713 SF
Property subtype
Multi-family
Lease Term
[]
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Listing Agency:
Churchill Properties
Listed By:
Barbara Burke
(207) 619-7571
Source:
Portsiderealestategroup
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 7:29PM
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 Churchill Properties
Investment Insights
Based on property information with market context.
This duplex contains 1,713 square feet across two residential units, with the first-floor unit currently occupied and the second-floor unit vacant. Built in 1900, the property can accommodate an owner-occupant, multigenerational household, or an investor seeking rental use.
The property is located in West Lynn at 686-A Boston Street. The ocean is 3 miles away, Boston is 10 miles away, and an MBTA station is 2.5 miles from the property. Local bus service, shopping, restaurants, and parks are also nearby.
The property is located in West Lynn at 686-A Boston Street. The ocean is 3 miles away, Boston is 10 miles away, and an MBTA station is 2.5 miles from the property. Local bus service, shopping, restaurants, and parks are also nearby.
Key Highlights
- Two‑unit duplex with 1,713 square feet
- First‑floor unit occupied; second‑floor unit vacant
- Built in 1900
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
$34,429
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
4.44%
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%
$688,580
$688.6K
Cap Rate 7%
$491,843
$491.8K
Cap Rate 9%
$382,544
$382.5K
Market Conditions
NOI Build-Up for 1,713 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
$52.4K $30.60/SF
− Vacancy
−$3.2K −$1.89/SF
EGI
$49.2K $28.71/SF
− OpEx
−$14.8K −$8.61/SF
NOI
$34.4K $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%
$688,580
Cap Rate 7%
$491,843
Cap Rate 9%
$382,544
Alternative Uses
Best Use
Multifamily LT 5
$491.8K
$430.4K – $573.8K
NOI $34,429 @ 7.0% cap · market cap 4.44%
Second Best
Apartment 5plus
$427.4K
$374.0K – $498.6K
NOI $29,916 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$606.1K
$530.4K – $707.1K
NOI $42,428 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
629
Businesses Nearby
Explore this area
Business Placement
Demographics for 01905, MA
27,761
Population
9,583
Households
2.9
Avg Household Size
34
Median Age
21%
College-Educated
79%
High-School Grad
3.1 sq mi
ZIP Area
8,955
Density / Sq Mi
$84,341
Median Household Income
$42,983
Median Earnings
$1,749
Median Rent
$443,200
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 - Duplex offering an occupied first-floor unit and a vacant second-floor unit for flexible residential use.
Where is this duplex located?
The property is located at 686-a Boston Street Lynn, MA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,713 square feet; First‑floor unit occupied; second‑floor unit vacant; Built in 1900
