Two-Family Residential with Enclosed
For Sale
$640,000
74 Myrtle St, Lynn, MA 01905
Well-maintained two-family property with enclosed porches, hardwood flooring, and off-street parking, delivered vacant.
Property Size1,392 SF
Price / SF$459.77
Days on Market164
Property Features for 74 Myrtle St
General Information
Standard status
Active
Size
1,392 SF
Total Parking Spaces
5
Property subtype
Multi-Family
Zoning
R2
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,982
Amenities
off-street parking
enclosed porches
hardwood flooring
Building Details
Building Size
1,392 SF
Year Built
1900
Stories
2
Tenancy
Multi
Listing Agency:
REMAX Executive Realty
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Mar 26
Changed: Aug 31
Last Checked: Aug 31 at 12:59PM
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 REMAX Executive Realty
Investment Insights
Based on property information with market context.
This well-maintained two-family residential property is arranged as two separate units, each offering 2 bedrooms and 1 full bath. The units feature hardwood flooring throughout and a functional layout with bright living spaces. Enclosed porches provide additional usable outdoor space, and off-street parking supports convenient day-to-day access. The property will be delivered vacant, offering flexibility for an owner-occupant or for rental use.
The property is located at 74 Myrtle St in Lynn, MA. It is positioned near shops, restaurants, and public transportation, along with everyday amenities.
As presented, the building supports straightforward dual-unit living with matching unit features and an enclosed-porch addition that can be useful for a range of occupancy goals.
The property is located at 74 Myrtle St in Lynn, MA. It is positioned near shops, restaurants, and public transportation, along with everyday amenities.
As presented, the building supports straightforward dual-unit living with matching unit features and an enclosed-porch addition that can be useful for a range of occupancy goals.
Key Highlights
- Well‑maintained 2‑family property, built in 1900
- Each unit offers 2 bedrooms and 1 full bath
- Hardwood flooring throughout both units
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
$27,977
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
4.37%
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%
$559,540
$559.5K
Cap Rate 7%
$399,671
$399.7K
Cap Rate 9%
$310,856
$310.9K
Market Conditions
NOI Build-Up for 1,392 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
$42.6K $30.60/SF
− Vacancy
−$2.6K −$1.89/SF
EGI
$40.0K $28.71/SF
− OpEx
−$12.0K −$8.61/SF
NOI
$28.0K $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%
$559,540
Cap Rate 7%
$399,671
Cap Rate 9%
$310,856
Alternative Uses
Best Use
Multifamily LT 5
$399.7K
$349.7K – $466.3K
NOI $27,977 @ 7.0% cap · market cap 4.37%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,310 @ 7.0% cap · market cap 3.80%
Theoretical Best
Office A
$492.5K
$431.0K – $574.6K
NOI $34,477 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
595
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 - Well-maintained two-family property with enclosed porches, hardwood flooring, and off-street parking, delivered vacant.
Where is this duplex located?
The property is located at 74 Myrtle St Lynn, MA.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Well‑maintained 2‑family property, built in 1900; Each unit offers 2 bedrooms and 1 full bath; Hardwood flooring throughout both units
