8 Lexington Terrace

8 Lexington Terrace has been categorized by the local assessors in Lynn, MA as a residential type of property. The building on the property was first built in 1915 and is 109 years old. However, we must point out that the home was most recently renovated and altered in 1966. The home has a total of 10 rooms. 4 of these rooms are legally considered as bedrooms. Residents will have access to 2 full bathrooms. There are 2 partial bathrooms in the home. The building has a total of 2 stories. In addition, 8 Lexington Terrace has 1,952 sqft of living area. The living area typically only takes into consideration the heated or air conditioned part of the building. The area measurement of the land has been determined as 4,505 square feet. Fans of architecture and design would be interested in knowing that the building on the property was built in a duplex style.

Want to learn more? We've sourced additional information from the local assessor's office that we've shared on this page with you. Moving on to the building itself. The condition of the building has been evaluated as average. Along the lines of building condition, did you know that weather changes can cause buildings to move? It may sound alarming, but thats why the type of control joints used in the construction of your home is extremely important. Architects often have to plan these out well in advance to ensure the longevity of the building. Therefore, as part of your consideration, you should note that the home was built with frame control joints. The building has a flat style roof made of tar and gravel. The exterior walls of the building are made of alum/vinyl siding. The inside of the home is being cooled with air conditioning at the moment. In terms of heating, it is utilizing a forced air unit and being fueled with oil. We've gathered and summarized the following transaction history in an effort to provide more transparency and up-to-date information for our users. According to our sources, 8 Lexington Terrace sold most recently in May 2, 2023 for a total of $749,900. If you work out the math, that's approximately a cost of $384.17 per sqft. Before that, the property was also sold for $184,900 in Jan 1, 1970. There could be many factors that caused the property to sell at a higher price and increase in value. Tax-wise, the current owner is expected to pay close to $5,982 in taxes each year. 8 Lexington Terrace was most recently assessed in 2024. During this assessment, the property's total value was estimated to be about $568,100. If we break it down further, the land itself was valued at $189,300. Improvements to the property, however, were assessed at a total of $378,800. The property's total assessed value has been marked as more than the total market value which is pretty atypical. If possible, try to put down at least 20% towards the down payment during your home purchasing process. While you may be able to buy a home with less than a 20% down payment, your lender may then require you to pay for a private mortgage insurance (PMI). PMI protects the lenders and lowers their financial risk in case the borrower defaults. Generally, you'll need to pay more PMI when your total loan amount is higher. However, certain factor such as your credit score, loan type, loan term, and loan-to-value ratio can all impact your PMI as well.