Updated Two-Family
For Sale
$625,000
9-11 Dungeon Avenue, Lynn, MA 01905
Two residential units offer refreshed interiors and in-unit laundry.
Property Size1,368 SF
Price / SF$456.87
Days on Market69
Property Features for 9-11 Dungeon Avenue
General Information
Standard status
Active
Size
1,368 SF
Property subtype
Multi-family
Amenities
in-unit laundry
Building Details
Year Built
1970
Tenancy
Multi
Listing Agency:
The Aland Realty Group LLC
Listed By:
Ethan Forrest
(617) 420-9033
Source:
Sredboston
Added: Jun 5
Changed: Aug 12
Last Checked: Aug 12 at 3:56AM
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 The Aland Realty Group LLC
Investment Insights
Based on property information with market context.
This 1,368-square-foot duplex, built in 1970, contains two residential units with matching two-bedroom, one-bath layouts. Interior improvements include updated bathrooms, refreshed kitchens, and new paint, while each unit also provides in-unit laundry. The property includes off-street parking and is configured for two-family occupancy.
The property is located at 9-11 Dungeon Avenue in Lynn, Massachusetts. Downtown Lynn, shopping, restaurants, everyday services, and major routes are all described as minutes away, providing convenient access to the surrounding area.
The property is located at 9-11 Dungeon Avenue in Lynn, Massachusetts. Downtown Lynn, shopping, restaurants, everyday services, and major routes are all described as minutes away, providing convenient access to the surrounding area.
Key Highlights
- Two‑unit duplex with 1,368 square feet
- Each unit includes 2 bedrooms and 1 bath
- Updated bathrooms and refreshed kitchens
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
$27,495
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
4.40%
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%
$549,900
$549.9K
Cap Rate 7%
$392,786
$392.8K
Cap Rate 9%
$305,500
$305.5K
Market Conditions
NOI Build-Up for 1,368 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
$41.9K $30.60/SF
− Vacancy
−$2.6K −$1.89/SF
EGI
$39.3K $28.71/SF
− OpEx
−$11.8K −$8.61/SF
NOI
$27.5K $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%
$549,900
Cap Rate 7%
$392,786
Cap Rate 9%
$305,500
Alternative Uses
Best Use
Multifamily LT 5
$392.8K
$343.7K – $458.3K
NOI $27,495 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$341.3K
$298.6K – $398.2K
NOI $23,891 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$484.0K
$423.5K – $564.7K
NOI $33,883 @ 7.0% cap · market cap 5.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
364
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 - Two residential units offer refreshed interiors and in-unit laundry.
Where is this duplex located?
The property is located at 9-11 Dungeon Avenue Lynn, MA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,368 square feet; Each unit includes 2 bedrooms and 1 bath; Updated bathrooms and refreshed kitchens
