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$674,900

For Sale - Active
121 Lynnfield St, Lynn, MA 01904
2 Beds
2 Baths
1,657 Square Feet
0.08 Acres Lot
Built in 1898
For Sale - Active
Units n/a
Checked: 42 minutes ago
Updated: Jun 18, 2025 at 03:21AM

Investment Summary


Monthly Cash Flow
-$1,390
Cap Rate
3.2%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.4%

Property Description


0.08 Acres Lot
Built in 1898
For Sale - Active
Units n/a

WATERFRONT-beautifully maintained 2-bed, 2-bath Old Style Colonial home offering direct access & scenic views of Sluice Pond. A charming three-season sunroom provides acces to the main entry level featuring open concept living & gleaming hardwood floors. A large dining room area off the vaulted ceiling granite kitchen w/stainless steel appliances, breakfast bar, & pantry as well as a large sliding door to an expansive deck w/stunning views, ideal for entertaining. A spacious living, hall with coat closet, home office w/water views, & a full bath complete the 1st level. Upstairs, two generously sized bedrooms, primary with walk-in closet & a full bathroom w/washer/dryer hookup. A walk-out lower level with water views offers incredible potential—ideal for an in-law suite, teen suite or addt'l living space.Enjoy outdoor living w/a fenced yard, private dock,expansive decking,new stone wall & 2 Driveways- parking for 5+ cars! Close to major routes, shopping, public transportation & more!

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Location


Property Details


Parking

  • Description: Paved Drive, Off Street
  • Details: Paved, Off Street, Driveway
  • Garage Spaces: 0
  • Spaces Total: 5

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 2
  • Basement: Yes
  • Basement Description: Full, Partially Finished, Walk-Out Access, Interior Entry, Concrete

Exterior Features

  • Exterior Walls Materials: Siding (Alum/Vinyl)
  • Foundation: Concrete Perimeter, Stone
  • Roof Type: Gable
  • Roof Material: Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: LYNNM:074B:082L:032
  • Lot Size: 3541 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Colonial
  • Year Built: 1898

Tax Information

  • Annual Tax: $5,670

Utilities

  • Water & Sewer: Public
  • Heating: Baseboard
  • Cooling: Central Air, Ductless

Location

  • County: Essex

Investment Summary


Monthly Cash Flow
-$1,390
Cap Rate
3.2%
Cash-on-Cash Return
-10.7%
Debt Coverage Ratio
0.56
Internal Rate of Return (5 years)
-6.4%

Purchase Details

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Purchase price:
$674,900
Amount financed:
-$539,920
Down payment:
$134,980
Closing costs:
$20,247
Rehab costs:
$0
Initial cash invested:
$155,227
Square feet:
1,657
Cost per square foot:
$407
Monthly rent per square foot:
$1.99

Financing Details

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Loan amount:
$539,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$3,194
Property tax:
$473
Insurance:
$231
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,898

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,300 $39,600
Vacancy loss: (6%)
6% -$198 -$2,376
Operating income:
$3,102 $37,224

Operating Expenses


% Rent Monthly Yearly
Property taxes: (14%)
14%-$473-$5,670
Insurance: (7%)
7%-$231-$2,772
Property management: (8%)
8%-$264-$3,168
Repairs & maintenance: (5%)
5%-$165-$1,980
Capital expenditures: (5%)
5%-$165-$1,980
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (39%)
39%-$1,298-$15,570

Cash Flow


Monthly Yearly
Net operating income:
$1,804 $21,648
Mortgage payments:
-$3,194 -$38,328
Cash flow:
$1,390 $16,680