Two-Family Residential with Enclosed
74 Myrtle Street, Lynn, MA 01905
For Sale
$680,000
Well-maintained two-family property with enclosed porches, hardwood flooring, and off-street parking, delivered vacant.
Property Size1,392 SF
Price / SF$488.51
Days on Market236
Property Features for 74 Myrtle Street
General Information
Standard status
Size
Property subtype
Lease Term
Additional Details
Multifamily Units
Amenities
off-street parking
enclosed porches
hardwood flooring
Building Details
Year Built
Tenancy
Listing Agency:
Serhant
Listed By:
Karshis & Co.
(781) 526-6630
Source:
Thepropernest
Added: Mar 23
Changed: Nov 9
Last Checked: Nov 12 at 8:36AM
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 Serhant
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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 / Yr
$27,977
Cap Rate
4.11%
Suggested Prices Based on Cap Rates
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
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 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 4.11%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,310 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$492.5K
$431.0K – $574.6K
NOI $34,477 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
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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
$443,200
Median Home Value
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Market
Average Price Trend$/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 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 Street Lynn, MA.
What is the asking price?
The asking price for this property is $680,000.
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
