Duplex with Rooftop
For Sale
$999,900
Pending
87 Bellevue Rd, Lynn, MA 01904
Two-family property with separate laundry hookups, private outdoor areas, and off-street parking.
Property Size2,994 SF
Days on Market79
Property Features for 87 Bellevue Rd
General Information
Standard status
Pending
Size
2,994 SF
Property subtype
Multi Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
private outdoor space
rooftop deck
separate laundry hookups
fireplace
walk-in closets
kitchenette
off-street parking
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Turn Key Realty
(781) 264-3992
Listed By:
Kenneth Celano
(781) 264-3992
Source:
Lockandkeyre
Added: Jun 15
Changed: Aug 31
Last Checked: Aug 31 at 3:43PM
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 Turn Key Realty
Investment Insights
Based on property information with market context.
This two-family property, built in 1900, provides over 2,900 square feet of living space with 5 bedrooms and 5.5 bathrooms. The layout includes generous room sizes and flexible living arrangements, while each unit has separate laundry hookups and private outdoor space. Off-street parking is also available.
The top-floor suite includes a kitchenette, fireplace, walk-in closets, and access to a rooftop deck with views toward the Atlantic Ocean and Boston skyline. A newer roof and siding add to the property's existing improvements. The home also offers access to public transportation, shopping, schools, parks, and major commuter routes.
The top-floor suite includes a kitchenette, fireplace, walk-in closets, and access to a rooftop deck with views toward the Atlantic Ocean and Boston skyline. A newer roof and siding add to the property's existing improvements. The home also offers access to public transportation, shopping, schools, parks, and major commuter routes.
Key Highlights
- Over 2,900 sq. ft. of living space with 5 bedrooms and 5.5 bathrooms
- Two‑family layout with separate laundry hookups for each unit
- Top‑floor suite includes a kitchenette, fireplace, and walk‑in closets
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
$60,175
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
6.02%
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%
$1,203,500
$1.2M
Cap Rate 7%
$859,643
$859.6K
Cap Rate 9%
$668,611
$668.6K
Market Conditions
NOI Build-Up for 2,994 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
$91.6K $30.60/SF
− Vacancy
−$5.7K −$1.89/SF
EGI
$86.0K $28.71/SF
− OpEx
−$25.8K −$8.61/SF
NOI
$60.2K $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%
$1,203,500
Cap Rate 7%
$859,643
Cap Rate 9%
$668,611
Alternative Uses
Best Use
Multifamily LT 5
$859.6K
$752.2K – $1.00M
NOI $60,175 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$747.0K
$653.6K – $871.5K
NOI $52,287 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$1.06M
$926.9K – $1.24M
NOI $74,155 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
842
Businesses Nearby
Explore this area
Business Placement
Demographics for 01904, MA
19,944
Population
7,322
Households
2.7
Avg Household Size
40
Median Age
32%
College-Educated
85%
High-School Grad
4.2 sq mi
ZIP Area
4,749
Density / Sq Mi
$100,597
Median Household Income
$49,561
Median Earnings
$1,742
Median Rent
$515,100
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 - Two-family property with separate laundry hookups, private outdoor areas, and off-street parking.
Where is this duplex located?
The property is located at 87 Bellevue Rd Lynn, MA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: Over 2,900 sq. ft. of living space with 5 bedrooms and 5.5 bathrooms; Two‑family layout with separate laundry hookups for each unit; Top‑floor suite includes a kitchenette, fireplace, and walk‑in closets
