NOT LISTED FOR SALE

227 Chestnut St Lynn, MA 01902

Fayette Street Neighborhood

Estimated Value: $903,000 - $1,035,000

9 Beds
3 Baths
3,276 Sq Ft
$299/Sq Ft Est. Value

Sale Details

Date Sold: June 10, 2021

Last sale price $790,000 $241 Per Sq Ft

Est. 24% increase in value since last sale

Current estimated payment $6,011 / mo

23 Days on Market

About This Home

As of June 2021

Large 3 family that can generate lots of income offering you a 7.2-7.5 cap. All 3 units are 3 bed 1 bath. It has been fully rented through Lynn housing for 4 years. Each unit can get 1950-2K per month in rental income with water/sewer paid by owner. Fully rented it would generate 71K gross rental per year. Expenses are roughly 13,500 per year for water/taxes/common electric. Renovated in 2011, and has been well maintained since then. Large year yard to play. Currently unit 3 is vacant, unit 2 will be vacant on May 1, unit 1 is rented with a TAW at 1,950 per month through Lynn housing (inc: gas/heat). Excellent opportunity for owner occupied person to take unit 2 or 3 and have rental income of $4K per month. GROUP SHOWING SATURDAY 4/10 MESSAGE AGENT FOR TIME SLOT

Last Agent to Sell the Property

Mike Tokatlyan

Contempo Builders, Inc. License #449630507 Listed on: 04/06/2021

Last Buyer's Agent

Non Member

Non Member Office

Property Details

Home Type

  • Multi-Family

Year Built

  • 1890

Lot Details

  • 2,614

Interior Spaces

  • Property has 1 Level

Property Details

Home Type

Multi-Family

Year Built

1890

Lot Details

2,614 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • Directions: Google maps
  • Garage Yn: No
  • Road Frontage Type: Public
  • Year Built Details: Actual
  • Special Features: None
  • Year Built: 1890

Interior Features

  • Appliances: Unit 1(Range,Dishwasher,Disposal,Microwave,Refrigerator,Freezer), Unit 2(Range,Dishwasher,Disposal,Microwave,Refrigerator,Freezer), Gas Water Heater
  • Has Basement: Full
  • MAIN LO: AN4487
  • MAIN SO: H11111
  • Full Bathrooms: 3
  • Total Bedrooms: 9
  • Fireplace: No
  • Flooring: Wood
  • Interior Amenities: Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen)
  • Stories: 6

Exterior Features

  • Roof: Rubber
  • Foundation Details: Stone
  • Construction Type: Frame
  • Disclosures: Broker Is Also Seller.
  • Home Warranty: No
  • Lot Features: Level
  • Patio And Porch Features: Screened
  • Waterfront: No

Utilities

  • Heating: Unit 1(Central Heat,Forced Air), Unit 2(Central Heat,Forced Air)
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • HOA Rent Includes: Unit 1(Gas,Water), Unit 2(Gas,Water)
  • Senior Community: No

Fee Information

  • Annual Water Sewer Expense: 1800

Lot Info

  • LOT SIZE: 2613
  • Farm Land Area Units: Square Feet
  • Lot Size Sq Ft: 2613.6
  • Zoning: 999999

Multi Family

  • LEVELS 1: 1
  • LEVELS 3: 1
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 3: 3
  • Electric Expense: 480
  • Annual Gross Income: 45600
  • Insurance Expense: 3200
  • Property Net Operating Income: 45600
  • Number Of Units Total: 3
  • Annual Operating Expense: 5980
  • Total Actual Rent: 3800

Tax Info

  • Tax Annual Amount: 7200
  • Tax Book Number: 9999
  • Tax Year: 2021

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 6, 2021
Closed on
May 27, 2021
Sold by
Bought by
Seller's Agent
Mike Tokatlyan
Contempo Builders, Inc.
Buyer's Agent
Non Member
Non Member Office
List Price
$809,900
Sold Price
$790,000
Premium/Discount to List
-$19,900
-2.46%
Current Estimated Value
$979,607

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$189,607
Avg. Annual Appreciation
4.37%
Original Mortgage
$585,000
Outstanding Balance
$522,426
Interest Rate
3%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$457,181

Purchase Details

Listed on
Apr 21, 2014
Closed on
Jul 2, 2014
Sold by
Bought by
Seller's Agent
Victoria Kustov
Elite Realty Experts, LLC
Buyer's Agent
Matthew Power
1 Percent Realty, LLC
List Price
$399,900
Sold Price
$347,000
Premium/Discount to List
-$52,900
-13.23%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.57%
Original Mortgage
$334,855
Interest Rate
4.16%
Mortgage Type
FHA

Purchase Details

Closed on
Aug 27, 2010
Sold by
Bought by

Purchase Details

Closed on
Oct 16, 2008
Sold by
Bought by

Purchase Details

Closed on
Aug 29, 2008
Sold by
Bought by

Purchase Details

Closed on
Aug 13, 2003
Sold by
Bought by

Purchase Details

Closed on
Aug 6, 2003
Sold by
Bought by

Purchase Details

Closed on
Sep 6, 2001
Sold by
Bought by

Purchase Details

Closed on
Nov 28, 2000
Sold by
Bought by

Purchase Details

Closed on
Dec 17, 1998
Sold by
Bought by

Purchase Details

Closed on
Apr 20, 1993
Sold by
Bought by

Purchase Details

Closed on
Jul 2, 1992
Sold by
Bought by

Purchase Details

Closed on
Oct 22, 1991
Sold by
Bought by

Purchase Details

Closed on
Jun 8, 1988
Sold by
Bought by
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$780,000 None Available
$780,000 None Available
$347,000 --
$347,000 --
$134,000 --
-- --
-- --
-- --
-- --
$537,986 --
$537,986 --
$409,000 --
$409,000 --
$409,000 --
$409,000 --
$299,900 --
$299,900 --
$151,000 --
$151,000 --
$103,900 --
$103,900 --
$118,000 --
$118,000 --
$23,000 --
$23,000 --
$63,000 --
$63,000 --
$150,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $585,000
Closed $585,000
Previous Owner $334,855
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
06/10/2021 06/10/21 Sold $790,000 -2.5% $241 / Sq Ft
04/29/2021 04/29/21 Pending -- -- --
04/06/2021 04/06/21 For Sale $809,900 +133.4% $247 / Sq Ft
07/02/2014 07/02/14 Sold $347,000 -13.2% $106 / Sq Ft View Prior Sale
06/02/2014 06/02/14 Pending -- -- --
04/21/2014 04/21/14 For Sale $399,900 -- $122 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $8,638 $833,800 $188,500 $645,300
2024 $8,517 $808,800 $170,100 $638,700
2023 $8,257 $740,500 $170,100 $570,400
2022 $7,886 $634,400 $139,100 $495,300
2021 $7,531 $578,000 $126,900 $451,100
2020 $6,886 $513,900 $99,100 $414,800
2019 $6,711 $469,300 $96,700 $372,600
2018 $6,208 $409,800 $93,400 $316,400
2017 $5,744 $368,200 $72,600 $295,600
2016 $5,265 $325,400 $61,200 $264,200
2015 $4,886 $291,700 $65,700 $226,000
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2021

    Mike Tokatlyan

    Contempo Builders, Inc.

    Section Image

  • N

    Buyer's Agent in 2021

    Non Member

    Non Member Office

  • Victoria Kustov

    Seller's Agent in 2014

    Victoria Kustov

    Elite Realty Experts, LLC

    (781) 956-7789

    87 Total Sales

    Victoria Kustov
    Section Image
  • Matthew Power

    Buyer's Agent in 2014

    Matthew Power

    1 Percent Realty, LLC

    (978) 944-9600

    1 in this area

    18 Total Sales

    Matthew Power
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72809072

MLS Property Information Network (MLS PIN)

APN: LYNN-000095-000510-000022

Massachusetts Essex County Lynn 01902 Fayette Street

227 Chestnut St, Lynn, MA

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MLS Property Information Network (MLS PIN) The property listing data and information, or the Images, set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information, and the Images, are for the personal, non-commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein.

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