Triplex with Bonus
For Sale
$999,000
Pending
9 S Elm St, Lynn, MA 01905
Three apartments feature flexible layouts, private decks, updated electric service, and off-street parking.
Property Size3,613 SF
Days on Market50
Property Features for 9 S Elm St
General Information
Standard status
Pending
Size
3,613 SF
Total Parking Spaces
6
Property subtype
3 Family - 3 Units Up/Down
Amenities
private decks
hardwood floors
updated electric service
basement storage
detached accessory building with plumbing and electricity
Building Details
Building Size
3,613 SF
Year Built
1900
Buildings
2
Tenancy
Multi
Listing Agency:
IVerty Realty, LLC
Listed By:
Mela Dieujuste · License #452508574
(413) 786-0584
Source:
Iverty
Added: Jul 28
Changed: Sep 15
Last Checked: Sep 15 at 6:44AM
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 IVerty Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained triplex contains three apartments, each with 3 bedrooms, a bonus room, separate living and dining rooms, private decks, and hardwood floors. Units 2 and 3 each include two full baths, while updated electric service supports the property. All three units are described as clean and well cared for. The property includes six off-street parking spaces, basement storage, and a detached accessory building with plumbing and electricity. The accessory building provides flexible space for storage, a workshop, studio, or hobby use.
Located on a quiet dead-end street near shopping, public transportation, and major commuter routes, the property also has lead compliance certificates available for Units 1 and 2. Long-term tenants have a history of on-time rent payments and have cooperated with ownership to facilitate buyer access.
Located on a quiet dead-end street near shopping, public transportation, and major commuter routes, the property also has lead compliance certificates available for Units 1 and 2. Long-term tenants have a history of on-time rent payments and have cooperated with ownership to facilitate buyer access.
Key Highlights
- Three apartments, each with 3 bedrooms and a bonus room
- Units 2 and 3 each include two full baths
- Six off‑street parking spaces
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
$72,615
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
7.27%
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%
$1,452,300
$1.5M
Cap Rate 7%
$1,037,357
$1.0M
Cap Rate 9%
$806,833
$806.8K
Market Conditions
NOI Build-Up for 3,613 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
$110.6K $30.60/SF
− Vacancy
−$6.8K −$1.89/SF
EGI
$103.7K $28.71/SF
− OpEx
−$31.1K −$8.61/SF
NOI
$72.6K $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%
$1,452,300
Cap Rate 7%
$1,037,357
Cap Rate 9%
$806,833
Alternative Uses
Best Use
Multifamily LT 5
$1.04M
$907.7K – $1.21M
NOI $72,615 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$901.4K
$788.7K – $1.05M
NOI $63,097 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,487 @ 7.0% cap · market cap 8.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,133
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
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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 - Three apartments feature flexible layouts, private decks, updated electric service, and off-street parking.
Where is this triplex located?
The property is located at 9 S Elm St Lynn, MA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three apartments, each with 3 bedrooms and a bonus room; Units 2 and 3 each include two full baths; Six off‑street parking spaces
