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Lynn 01902
242 Eastern Ave
$515,000
● House - Off Market

242 Eastern Ave

Lynn, MA 01902
bedrooms
4 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,437 Ft²
$3,012
Est. Monthly

About This Property

Just a stones throw from the T, this property places you at the doorstep of Boston's vibrant heart, making your daily commute a breeze. The first floor is generously proportioned with high ceilings and hardwood flooring creating a spacious, welcoming atmosphere. Recently updated kitchen complete with granite countertops and stainless steel appliances. The adjacent dining room offers a built-in wine cooler for those who enjoy entertaining. A substantial grand staircase leads to 4 spacious bedrooms, full bathroom and walk up attic. Newer roof & boiler. Seller is painting an upstairs bedroom prior to closing. SAVE OVER $250 ON YOUR MORTGAGE WITH SELLER CREDITS! Call today!
Unit Size
1,437 Ft²
Days on Market
-
Land Size
0.04 acres
Price per sqft
$375
Property Type
House
Property Taxes
$365
HOA Dues
-
Year Built
1910

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Cap Rate Calculator

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Cap Rate 100% Occupancy
N/A (extreme outlier)

What does this mean?

Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.

How much can I actually make?

Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.

How is cap rate calculated?

Cap Rate = Net Operating Income (NOI) / Property Asset Value.

When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.

Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.

Last updated: 4 months ago (MLSPIN #73183714)

Price History

Date / Event Date Event Price
Jan 30, 2024 Sold
Premium
Sold
Dec 28, 2023 In contract -
In contract
Nov 29, 2023 Listed by Lamacchia Realty, Inc. $539,000
Listed by Lamacchia Realty, Inc.
Jun 6, 2007 Sold
Premium
Sold
Dec 27, 2006 Listed by Lamacchia Realty, Inc. $229,699
Listed by Lamacchia Realty, Inc.
Show More

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1910
  • Effective Year Built: 1965
  • Building Count: 1
  • Total Rooms: 7
  • Bedroom Count: 4
  • Bathroom Count: 2
  • Full Bathrooms: 1
  • Partial Bathrooms: 2
  • Building Condition: 6
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 15
  • Floor Count: 200
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 722
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 1,666
  • Total Building Area: 1,437
  • Gross Building Area: 2,219
  • Building Area: 1,437
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,437
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000038
  • Standard Land Use Code: 1001
  • County Land Use Code: 101

Neighborhood

  • School District Name: Lynn School District
  • School Tax School District: LYNN SD
  • Census Tract: 206500

Zoning

  • Zoning: R4

Geography

  • District: 163
  • Parcel: LYNN M:104 B:525 L:013
  • Block: 525
  • Lot: 13
  • Municipality: LYNN
  • Latitude: 42.4743
  • Longitude: -70.9285

    Address

  • Full Address: 242 Eastern Ave
  • Address - House Number: 242
  • Address - Street Name: Eastern
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Lynn
  • Carrier Code: C028
  • 4-Digit Zip Code: 1338
  • Zip Code: 01902

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $449,300

    Appraisal Valuation

  • Standard Deviation: 0.0799
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 94
  • Final Value: 548,003
  • High Value: 592,001
  • Low Value: 504,005

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $426,700
  • Assessed Land Value: $165,800
  • Assessed Improvements Value: $260,900

    Sales

  • Current Sale Contract Date: Jan 30, 2024
  • Current Sale Recording Date: Jan 30, 2024
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20240130002050
  • Previous Sale Recording Date: Jun 06, 2007
  • Previous Sale Amount: $218,000
  • Previous Sale Document Type: 27
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Request mortgage information redaction

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

About Lynn

Stats & Trends

Median Asking:

$598,000

Sale Price/ft²

$374

Below Asking

0.01%

Average Days on Market

59

Average Home Size

2704 ft²

Average Home Age

97.1 years

Currently For Sale

156 Listings
Based on RH Advisors, Inc. calculations of home data from MLS and/or public records.

Similar Homes for Sale

Currently no similar homes around

Nearby Rentals

Rentals Near You

Click here to view more rentals in the neighborhood.
Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 73183714

Frequently Asked Questions

When was property at 242 Eastern Avenue built and last sold?
The property at 242 Eastern Avenue was built in 1910 and last sold on Jan 30, 2024 for $515,000.
How much is this home worth?
The estimated value of the home located at 242 Eastern Avenue is $523,750.
What are some comparable homes to 242 Eastern Avenue?
There are currently no comparable homes to 242 Eastern Avenue.
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