Three-Family Residential
For Sale
$1,175,000
9 Hamilton Ave, Lynn, MA 01902
Well-maintained three-family with 8 bedrooms, 3 full baths, new roof, updated electrical, private decks, and solar for the third unit.
Property Size3,257 SF
Price / SF$360.76
Days on Market110
Property Features for 9 Hamilton Ave
General Information
Standard status
Active
Size
3,257 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
R2
Net Operating Income
$28,800
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,609
Building Details
Building Size
3,257 SF
Year Built
1900
Stories
3
Listing Agency:
RE/MAX Partners
(833) 668-4649
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: May 27
Changed: Sep 13
Last Checked: Sep 13 at 5:22AM
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 RE/MAX Partners
Investment Insights
Based on property information with market context.
This well-maintained three-family residential income property features a total of 8 bedrooms and 3 full bathrooms. Recent updates include a brand-new roof, updated electrical systems in all three units, and three new private decks. The third unit also has solar panels connected, providing added efficiency and additional living comfort.
The property at 9 Hamilton Ave in Lynn, MA 01902 is located near shopping, supermarkets, restaurants, cafés, parks, schools, and public transportation. Access to major commuter routes and a rail station with direct service to Boston is also described, along with easy access to nearby beaches and recreational areas.
The combination of unit-level improvements and energy-related upgrades makes this a practical option for buyers seeking a multi-unit property with tangible recent capital work.
The property at 9 Hamilton Ave in Lynn, MA 01902 is located near shopping, supermarkets, restaurants, cafés, parks, schools, and public transportation. Access to major commuter routes and a rail station with direct service to Boston is also described, along with easy access to nearby beaches and recreational areas.
The combination of unit-level improvements and energy-related upgrades makes this a practical option for buyers seeking a multi-unit property with tangible recent capital work.
Key Highlights
- Well‑maintained three‑family with 8 total bedrooms and 3 full bathrooms
- Brand‑new roof
- Updated electrical systems in all three units
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
$65,460
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
5.57%
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%
$1,309,200
$1.3M
Cap Rate 7%
$935,143
$935.1K
Cap Rate 9%
$727,333
$727.3K
Market Conditions
NOI Build-Up for 3,257 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
$99.7K $30.60/SF
− Vacancy
−$6.1K −$1.89/SF
EGI
$93.5K $28.71/SF
− OpEx
−$28.1K −$8.61/SF
NOI
$65.5K $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%
$1,309,200
Cap Rate 7%
$935,143
Cap Rate 9%
$727,333
Alternative Uses
Best Use
Multifamily LT 5
$935.1K
$818.3K – $1.09M
NOI $65,460 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$812.6K
$711.0K – $948.0K
NOI $56,880 @ 7.0% cap · market cap 4.84%
Theoretical Best
Office A
$1.15M
$1.01M – $1.34M
NOI $80,669 @ 7.0% cap · market cap 6.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
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
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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?
Triplex - Well-maintained three-family with 8 bedrooms, 3 full baths, new roof, updated electrical, private decks, and solar for the third unit.
Where is this triplex located?
The property is located at 9 Hamilton Ave Lynn, MA.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Well‑maintained three‑family with 8 total bedrooms and 3 full bathrooms; Brand‑new roof; Updated electrical systems in all three units
