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Lynn 01902
494 Western Avenue
$318,000
● House - Off Market

494 Western Avenue

Lynn, MA 01904
bedrooms
6 Beds
bathrooms
3 Baths
square feet
3,172 Ft²
$555,064
RealtyHop Estimate
68.25%
Since Jun 1, 2016
MA-Boston
Primary Model

About This Property

Newly renovated single with 10 rooms 6 bedrooms and 3 full bathrooms. Good size lot with shed. Updated kitchen with newer cabinets and granite counter-top with stainless steel appliances.  Additional finished space in the 3rd level. Updated electrical, plumbing and heating. All light fixtures and switches have been replaced about 1 year ago. Hardwood floors throughout hallways and bedrooms.  Ceramic tiled floors in the kitchen and bathrooms. Great yard for children and gardening plus a shed for storage and work shop area. Conveniently located on the main road with for commuters easy access to public transportation and highway.
Unit Size
3,172 Ft²
Days on Market
-
Land Size
0.11 acres
Price per sqft
$104
Property Type
House
Property Taxes
$327
HOA Dues
-
Year Built
1891

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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: 6 months ago (MLSPIN #71958295)

Price History

Date / Event Date Event Price
May 11, 2016 Sold
Premium
Sold
Feb 11, 2016 Listed by Mass Broker Services $329,900
Listed by Mass Broker Services
Nov 20, 2013 Sold
Premium
Sold
Sep 27, 2013 Listed by Mass Broker Services $200,000
Listed by Mass Broker Services

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1891
  • Effective Year Built: 1963
  • Building Count: 1
  • Total Rooms: 8
  • Bedroom Count: 4
  • Bathroom Count: 3
  • Full Bathrooms: 2
  • Partial Bathrooms: 3
  • Building Condition: 3
  • Building Quality: 0
  • Construction Type: 6
  • Building Style: 5
  • Exterior Walls Type: 19
  • Interior Walls Type: 0
  • Roof Shape Type: 1
  • Roof Cover Type: 6
  • Floor Count: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 1,262
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 4,690
  • Total Building Area: 3,172
  • Gross Building Area: 5,084
  • Building Area: 3,172
  • Building Area Measurement: L

    Heating and Cooling

  • Fireplace Count: 1
  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 3,172
  • Heating Fuel Type: 6

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000108
  • 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: 205500

Zoning

  • Zoning: R4

Geography

  • Parcel: LYNN M:070 B:650 L:007
  • Block: 650
  • Lot: 7
  • Municipality: LYNN
  • Latitude: 42.4692
  • Longitude: -70.9573

    Address

  • Full Address: 494 Western Ave
  • Address - House Number: 494
  • Address - Street Name: Western
  • Address - Suffix Type: Ave
  • State: MA
  • City Name: Lynn
  • Carrier Code: C045
  • 4-Digit Zip Code: 3314
  • Zip Code: 01904

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $628,400

    Appraisal Valuation

  • Standard Deviation: 0.2766
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 60
  • Final Value: 586,315
  • High Value: 749,037
  • Low Value: 423,593

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $596,800
  • Assessed Land Value: $169,400
  • Assessed Improvements Value: $427,400

    Sales

  • Current Sale Recording Date: May 11, 2016
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 353
  • Previous Sale Recording Date: Nov 20, 2013
  • Previous Sale Amount: $172,500
  • Previous Sale Document Type: O
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:

$594,986

Sale Price/ft²

$372

Below Asking

0.01%

Average Days on Market

60

Average Home Size

2495 ft²

Average Home Age

98.4 years

Currently For Sale

154 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

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Last Updated: 6 months ago
Data Source: MLS PIN, MLS# 71958295

Frequently Asked Questions

When was property at 494 Western Avenue built and last sold?
The property at 494 Western Avenue was built in 1891 and last sold on Jan 1, 1970 for $318,000.
How much is this home worth?
The estimated value of the home located at 494 Western Avenue is $330,801.
What are some comparable homes to 494 Western Avenue?
There are currently no comparable homes to 494 Western Avenue.
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