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Lynn 01902
53 Cherry St
$325,000
● House - Off Market

53 Cherry St

Lynn, MA 01902
bedrooms
4 Beds
bathrooms
2 Baths
square feet
1,388 Ft²
$471,711
RealtyHop Estimate
42.94%
Since Jun 1, 2019
MA-Boston
Primary Model

About This Property

Welcome to 53 Cherry St, perfectly situated in the Diamond District. Walking Distance to the ocean and Red Rock Park this condo living alternative boasts minimal maintenance and worry free living without the burden of rising condo fees.  Perfectly sized for a family or couple looking to relax and enjoy nights on the front porch feeling the beautiful sea breeze . Enjoy free concerts down on the oceanfront or watching the fireworks from the comfort of your new home. This home boasts 4 bedrooms and 2 bathrooms. Beautifully maintained over the years you will find updated electrical, gleaming hardwood floors, new paint, and other improvements throughout! Commuter rails easily accessed. This is the Diamond Districts new Gem! First Showings start at Open House Saturday 12-2pm or Sunday 11:30-1:30pm!!
Unit Size
1,388 Ft²
Days on Market
-
Land Size
0.03 acres
Price per sqft
$238
Property Type
House
Property Taxes
$316
HOA Dues
-
Year Built
1920

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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 #72476163)

Price History

Date / Event Date Event Price
May 23, 2019 Sold
Premium
Sold
Apr 3, 2019 Listed by J. Borstell Real Estate, Inc. $329,999
Listed by J. Borstell Real Estate, Inc.
Jul 31, 2008 Sold
Premium
Sold
Apr 15, 2008 Listed by J. Borstell Real Estate, Inc. $150,000
Listed by J. Borstell Real Estate, Inc.

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 1920
  • Effective Year Built: 1966
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 2
  • Bathroom Count: 2
  • Full Bathrooms: 2
  • 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: 300
  • Living Units: 1
  • Floor Cover: 0
  • Basement Type: 7
  • Basement Area: 503
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 1,942
  • Total Building Area: 1,388
  • Gross Building Area: 2,229
  • Building Area: 1,388
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 0
  • Heating: 4
  • Heated Square Feet: 1,388
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000045
  • 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: 206700

Zoning

  • Zoning: R1

Geography

  • Parcel: LYNN M:093 B:567 L:003
  • Block: 567
  • Lot: 3
  • Municipality: LYNN
  • Latitude: 42.4636
  • Longitude: -70.9305

    Address

  • Full Address: 53 Cherry St
  • Address - House Number: 53
  • Address - Street Name: Cherry
  • Address - Suffix Type: St
  • State: MA
  • City Name: Lynn
  • Carrier Code: C049
  • 4-Digit Zip Code: 3138
  • Zip Code: 01902

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $462,900

    Appraisal Valuation

  • Standard Deviation: 0.1795
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 76
  • Final Value: 482,034
  • High Value: 568,499
  • Low Value: 395,569

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $439,600
  • Assessed Land Value: $200,600
  • Assessed Improvements Value: $239,000

    Sales

  • Current Sale Contract Date: May 17, 2019
  • Current Sale Recording Date: May 23, 2019
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20190523002800
  • Previous Sale Recording Date: Jul 31, 2008
  • Previous Sale Amount: $140,000
  • 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:

$596,450

Sale Price/ft²

$374

Below Asking

0.01%

Average Days on Market

59

Average Home Size

2584 ft²

Average Home Age

96.9 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

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Last Updated: 4 months ago
Data Source: MLS PIN, MLS# 72476163

Frequently Asked Questions

When was property at 53 Cherry Street built and last sold?
The property at 53 Cherry Street was built in 1920 and last sold on May 17, 2019 for $325,000.
How much is this home worth?
The estimated value of the home located at 53 Cherry Street is $337,378.
What are some comparable homes to 53 Cherry Street?
There are currently no comparable homes to 53 Cherry Street.
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