Two-Family Duplex with Bonus
78 Western Ave Lynn, MA 01904
For Sale
$850,000
Well-maintained two-family duplex with separate entrances, hardwood floors, and a bonus room in the second unit.
Property Size2,432 SF
Price / SF$349.51
Days on Market103
Property Features for 78 Western Ave
General Information
- Standard status
- Active
- Size
- 2,432 SF
- Property subtype
- 2 Family - 2 Units Up/Down
Building Details
- Year Built
- 1920
Listing Agency:
Reference Real Estate
(781) 864-7474
Listed By:
Eric Bourgea
(781) 864-7474
Source:
Lockandkeyre
Added: Apr 15
Changed: Jul 21
Last Checked: Jul 22 at 5:08AM
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 Reference Real Estate
Investment Insights
Based on property information with market context.
This well-cared-for two-family duplex offers spacious layouts in both units and hardwood floors throughout. The second unit includes a bonus room, an enclosed porch, and a walk-up partially finished third level, providing flexibility for additional finished space. Separate entrances support privacy and independent access, while a full basement offers ample storage.
The property includes a two-car garage and plenty of off-street parking. It is conveniently located with easy access to major highways, public transportation, shopping, and dining, and is described as minutes to Boston, the MBTA, and local beaches.
Set up for flexible living arrangements, the home’s configuration includes multiple levels that can accommodate more space within the second unit, along with a basement for day-to-day storage needs.
The property includes a two-car garage and plenty of off-street parking. It is conveniently located with easy access to major highways, public transportation, shopping, and dining, and is described as minutes to Boston, the MBTA, and local beaches.
Set up for flexible living arrangements, the home’s configuration includes multiple levels that can accommodate more space within the second unit, along with a basement for day-to-day storage needs.
Key Highlights
- Two‑family home built in 1920 with over 2,400 SF of living space across both units
- Hardwood floors throughout both units with spacious layouts and a comfortable flow
- Second unit includes a bonus room, an enclosed porch, and a walk‑up partially finished third level
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $74.4k | $30.60 |
| − Vacancy | −$4.6k | −$1.89 |
| EGI | $69.8k | $28.71 |
| − OpEx | −$20.9k | −$8.61 |
| NOI | $48.9k | $20.10 |
2,432 SF · lease $30.60/SF/yr · vacancy 6.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$698.3K
$611.0K – $814.7K
NOI $48,879 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$606.7K
$530.9K – $707.9K
NOI $42,472 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$860.5K
$753.0K – $1.00M
NOI $60,236 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Well-maintained two-family duplex with separate entrances, hardwood floors, and a bonus room in the second unit.
Where is this duplex located?
The property is located at 78 Western Ave Lynn, MA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑family home built in 1920 with over 2,400 SF of living space across both units; Hardwood floors throughout both units with spacious layouts and a comfortable flow; Second unit includes a bonus room, an enclosed porch, and a walk‑up partially finished third level
