Oversized Two-and-a-Half
For Sale
$899,000
Pending
99 New Park St, Lynn, MA 01905
Well-maintained two-and-a-half family home with hardwood floors, basement laundry hookups, and off-street parking.
Property Size2,712 SF
Days on Market209
Property Features for 99 New Park St
General Information
Standard status
Pending
Size
2,712 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$8,291
Amenities
hardwood floors
formal dining room
new heating system
off-street parking
back yard with shed
laundry hookups
Listing Agency:
EWK Realty
(781) 322-8400
Listed By:
Hector Chajon · License #9014570
(617) 877-3930
Source:
Exprealty
Added: Feb 11
Changed: Sep 8
Last Checked: Jul 18 at 3:16AM
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 EWK Realty
Investment Insights
Based on property information with market context.
This well-maintained oversized two-and-a-half family home features hardwood floors throughout and includes a formal dining room. The property has laundry hookups in the basement for both units. Mechanical updates include a new heating system for the second-floor unit and a newer gas forced-air hot water system for the first-floor unit. Outside, there is a nice back yard with a shed and plenty of off-street parking.
Located in West Lynn, the home is close to public transportation, schools, and shopping.
The layout is designed for income or owner-occupancy, supported by separate unit heating systems and shared basement laundry hookups.
Located in West Lynn, the home is close to public transportation, schools, and shopping.
The layout is designed for income or owner-occupancy, supported by separate unit heating systems and shared basement laundry hookups.
Key Highlights
- Well‑maintained oversized 2.5‑family home with 3 total bathrooms
- Hardwood floors throughout and a formal dining room
- Partially finished basement with laundry hookups for both 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
$54,507
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
6.06%
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%
$1,090,140
$1.1M
Cap Rate 7%
$778,671
$778.7K
Cap Rate 9%
$605,633
$605.6K
Market Conditions
NOI Build-Up for 2,712 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
$83.0K $30.60/SF
− Vacancy
−$5.1K −$1.89/SF
EGI
$77.9K $28.71/SF
− OpEx
−$23.4K −$8.61/SF
NOI
$54.5K $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%
$1,090,140
Cap Rate 7%
$778,671
Cap Rate 9%
$605,633
Alternative Uses
Best Use
Multifamily LT 5
$778.7K
$681.3K – $908.5K
NOI $54,507 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$676.6K
$592.0K – $789.4K
NOI $47,362 @ 7.0% cap · market cap 5.27%
Theoretical Best
Office A
$959.6K
$839.6K – $1.12M
NOI $67,171 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
996
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 - Well-maintained two-and-a-half family home with hardwood floors, basement laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 99 New Park St Lynn, MA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Well‑maintained oversized 2.5‑family home with 3 total bathrooms; Hardwood floors throughout and a formal dining room; Partially finished basement with laundry hookups for both units
