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Lynn 01905
540 Summer Street
$300,000
● House - Off Market

540 Summer Street

Lynn, MA 01905
bedrooms
3 Beds
bathrooms
1 Bath, 1 Half Bath
square feet
1,400 Ft²
$541,564
RealtyHop Estimate
74.75%
Since Nov 1, 2015
MA-Boston
Primary Model

About This Property

Brand new construction...Assessment and taxes to be determined. State of the art granite kitchen with granite island- all stainless steel appliances . Hardwood floors through out the first floor with 1/2 bath.  Second floor boasts three carpeted bedrooms with a full bath separate  laundry room.   Central air conditioning.  Green certified home.  Full tall basement waiting to be finished with your ideas!  Nice level fenced in landscaped yard with plenty of parking. Three Parking spaces.  Close to shopping, schools and transportation to Boston.
Unit Size
1,400 Ft²
Days on Market
-
Land Size
0.09 acres
Price per sqft
$221
Property Type
House
Property Taxes
$8,333
HOA Dues
-
Year Built
2015

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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: 5 months ago (MLSPIN #71907534)

Price History

Date / Event Date Event Price
May 13, 2022 Sold
Premium
Sold
Oct 16, 2015 Sold
Premium
Sold
Sep 21, 2015 Listed by Connor Real Estate $309,900
Listed by Connor Real Estate
Apr 6, 2015 Sold
Premium
Sold
Dec 28, 2006 Sold
Premium
Sold
Show More

Property Highlights

Parking Available
Air Conditioning

Building Info

Overview

    General

  • Year Built: 2015
  • Effective Year Built: 2015
  • Building Count: 1
  • Total Rooms: 6
  • Bedroom Count: 3
  • 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: 744
  • Garage Type: 0
  • Parking Space Count: 0
  • Patio Type: 0
  • Porch Type: 0
  • Pool Type: 0

    Dimensions

  • Lot Size Square Feet: 3,745
  • Total Building Area: 1,488
  • Gross Building Area: 2,376
  • Building Area: 1,488
  • Building Area Measurement: L

    Heating and Cooling

  • Air Conditioning: 13
  • Heating: 4
  • Heated Square Feet: 1,488
  • Heating Fuel Type: 3

    Utilities

  • Sewer System: 0
  • Water Service: 0

Building

  • Building Type: 0
  • Property Class: R
  • Land Acres: 0000000086
  • 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: 207100

Zoning

  • Zoning: R4

Geography

  • Parcel: LYNN M:037 B:783 L:004
  • Block: 783
  • Lot: 4
  • Municipality: LYNN
  • Latitude: 42.4587
  • Longitude: -70.9693

    Address

  • Full Address: 540 Summer St
  • Address - House Number: 540
  • Address - Street Name: Summer
  • Address - Suffix Type: St
  • State: MA
  • City Name: Lynn
  • Carrier Code: C022
  • 4-Digit Zip Code: 2342
  • Zip Code: 01905

Valuation

    Tax

  • Tax Year: 2024
  • Tax Amount: $593,900

    Appraisal Valuation

  • Standard Deviation: 0.1779
  • Valuation Date: Mar 06, 2024
  • Confidence Score: 77
  • Final Value: 631,546
  • High Value: 743,723
  • Low Value: 519,370

    Assessments Valuation

  • Assessed Year: 2024
  • Assessed Total Value: $564,000
  • Assessed Land Value: $172,300
  • Assessed Improvements Value: $391,700

    Sales

  • Current Sale Contract Date: May 13, 2022
  • Current Sale Recording Date: May 13, 2022
  • Current Sale Price:
    Premium
  • Current Sale Document Type: O
  • Current Sale Input Document Number: 20220513004400
  • Previous Sale Recording Date: Oct 16, 2015
  • Previous Sale Amount: $300,000
  • 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

2483 ft²

Average Home Age

97.7 years

Currently For Sale

160 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: 5 months ago
Data Source: MLS PIN, MLS# 71907534

Frequently Asked Questions

When was property at 540 Summer Street built and last sold?
The property at 540 Summer Street was built in 2015 and last sold on May 13, 2022 for $565,000.
How much is this home worth?
The estimated value of the home located at 540 Summer Street is $323,945.
What are some comparable homes to 540 Summer Street?
There are currently no comparable homes to 540 Summer Street.
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