Detached Two-Family
For Sale
$1,100,000
79 Johnson St, Lynn, MA 01902
Two separate homes provide flexible occupancy, rental, and potential condominium conversion options with dedicated utilities and off-street parking.
Property Size2,870 SF
Days on Market14
Property Features for 79 Johnson St
General Information
Standard status
Active
Size
2,870 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$5,820
Building Details
Building Size
2,870 SF
Year Built
1985
Stories
3
Units
2
Listed By:
Shirley Robles
(781) 654-1116
Source:
Elliman
Added: Sep 15
Changed: Sep 17
Last Checked: Sep 26 at 11:12AM
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 Shirley Robles
Investment Insights
Based on property information with market context.
This duplex property at 79 Johnson St includes two fully detached residences on a single lot, each served by separate utilities. The rear home was completed in 2026 and has not previously been occupied. Its layout includes an open kitchen and living area, three bedrooms, one full bathroom, mini-split heating, and central air conditioning.
The front residence is leased under a tenancy-at-will arrangement and contains three to four bedrooms, two full bathrooms, a kitchen, living room, and finished basement family room. Six off-street parking spaces serve the property. With one home currently producing rental income and the other offering new construction, the property also presents potential for owner occupancy or future condominium conversion. The address has a Walk Score of 83, a Transit Score of 46, and a Bike Score of 28.
The front residence is leased under a tenancy-at-will arrangement and contains three to four bedrooms, two full bathrooms, a kitchen, living room, and finished basement family room. Six off-street parking spaces serve the property. With one home currently producing rental income and the other offering new construction, the property also presents potential for owner occupancy or future condominium conversion. The address has a Walk Score of 83, a Transit Score of 46, and a Bike Score of 28.
Key Highlights
- Two fully detached residences situated on one lot
- Rear residence completed in 2026 and never previously occupied
- Rear home includes 3 bedrooms, 1 full bathroom, mini‑split heat, and central air
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
$57,682
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
5.24%
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%
$1,153,640
$1.2M
Cap Rate 7%
$824,029
$824.0K
Cap Rate 9%
$640,911
$640.9K
Market Conditions
NOI Build-Up for 2,870 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
$87.8K $30.60/SF
− Vacancy
−$5.4K −$1.89/SF
EGI
$82.4K $28.71/SF
− OpEx
−$24.7K −$8.61/SF
NOI
$57.7K $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%
$1,153,640
Cap Rate 7%
$824,029
Cap Rate 9%
$640,911
Alternative Uses
Best Use
Multifamily LT 5
$824.0K
$721.0K – $961.4K
NOI $57,682 @ 7.0% cap · market cap 5.24%
Second Best
Apartment 5plus
$716.0K
$626.5K – $835.4K
NOI $50,121 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$1.02M
$888.6K – $1.18M
NOI $71,084 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,220
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate homes provide flexible occupancy, rental, and potential condominium conversion options with dedicated utilities and off-street parking.
Where is this duplex located?
The property is located at 79 Johnson St Lynn, MA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two fully detached residences situated on one lot; Rear residence completed in 2026 and never previously occupied; Rear home includes 3 bedrooms, 1 full bathroom, mini‑split heat, and central air
