NOT LISTED FOR SALE

40 Spencer St Lynn, MA 01905

West Lynn Neighborhood

Estimated Value: $632,000 - $1,006,000

6 Beds
3 Baths
2,400 Sq Ft
$346/Sq Ft Est. Value

Last Sold March 26, 2021

Last sale price $665,000 $277 Per Sq Ft

Est. 25% increase in value since last sale

Current estimated payment $4,987/month

10 Days on Market

Highlights

  • Waterfront
  • Porch
  • Heating Available
  • Property is near public transit
  • Park

About This Home

As of March 2021

Lynn/Saugus line. Great investment. Exceptional 3 family. 12 rooms. 2nd and 3rd floor all done over. Granite kitchen. All new stainless steel appliances. First floor needs work. House is in great shape. Near supermarkets, trains, MBTA and Boston. First showing - Open House, Saturday, Jan. 23rd from 12:00 pm to 1:00 pm. In accordance with COVID-19 recommendations, masks MUST be worn and social distancing observed at all times while at the property. Any and all offers to be in by 5:00 pm on Mon., Jan. 25th.

Last Agent to Sell the Property

Beth Connor

Connor Real Estate Listed on: 01/22/2021

Last Buyer's Agent

Frank Celeste

Gibson Sotheby's International Realty

Gibson Sotheby's International Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,524

Year Built

  • Built in 1925

Lot Details

  • 3,920 Sq Ft Lot
  • Waterfront

Home Design

  • Triplex
  • Stone Foundation
  • Shingle Roof

Interior Spaces

  • 2,400 Sq Ft Home
  • Laminate Flooring

Kitchen

  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 3 Full Bathrooms

Parking

  • Driveway
  • Open Parking

Outdoor Features

  • Porch

Location

  • Property is near public transit
  • Property is near schools

Schools

  • Breed Jr. High Middle School
  • Lynn Classical High School

Utilities

  • Heating Available
  • 220 Volts
  • Gas Water Heater

Listing and Financial Details

  • Total Actual Rent $3,050
  • Rent includes unit 1(water), unit 2(none), unit 3(none)
  • Assessor Parcel Number 1993521

Community Details

Overview

  • 3 Units
  • Property has 1 Level

Recreation

  • Park

Building Details

  • Net Operating Income $17,100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,524

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Triplex
  • Year Built: 1925
  • Buyer Agency Type: %
  • Transaction Broker Type: %
  • Year Built Details: Approximate
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • Special Features: None
  • Stories: 6

Interior Features

  • Flooring: Laminate
  • Interior Amenities: Unit 1(Upgraded Cabinets,Bathroom with Shower Stall), Unit 1 Rooms(Living Room,Kitchen), Unit 2 Rooms(Living Room,Kitchen), Unit 3 Rooms(Living Room,Kitchen)
  • Fireplace YN: No
  • Appliances: Unit 1(Range,Dishwasher,Refrigerator), Unit 2(Range,Dishwasher,Microwave,Refrigerator), Unit 3(Range,Dishwasher,Refrigerator), Gas Water Heater
  • Total Bedrooms: 6
  • Full Bathrooms: 3
  • Total Bathrooms: 3
  • Living Area: 2400
  • Stories Total: 6
  • MAIN LO: C66300
  • MAIN SO: BB5918

Exterior Features

  • Foundation Details: Stone
  • Patio And Porch Features: Porch
  • Road Frontage Type: Public
  • Roof: Shingle
  • Waterfront Features: Beach Front, Ocean, 1 to 2 Mile To Beach, Beach Ownership(Public)
  • Waterfront YN: Yes

Garage/Parking

  • Garage YN: No
  • Open Parking YN: Yes
  • Parking Features: Paved Drive

Utilities

  • Sewer: Public Sewer
  • Heating: Unit 1(Hot Water Baseboard), Unit 2(Gas), Unit 3(Gas)
  • Electric: 220 Volts
  • Heating YN: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Public Transportation, Park, House of Worship, Public School
  • Rent Includes: Unit 1(Water), Unit 2(None), Unit 3(None)

Lot Info

  • Parcel Number: 1993521
  • Zoning: R4
  • Farm Land Area Units: Square Feet
  • Lot Size Acres: 0.09
  • Lot Size Sq Ft: 3920.399999
  • Lot Size Units: Acres
  • LOT SIZE: 3788

Tax Info

  • Tax Year: 2020
  • Tax Annual Amount: 6524

Multi Family

  • Net Operating Income: 17100
  • Number Of Units Total: 3
  • Total Actual Rent: 3050
  • LEVELS 1: 1
  • LEVELS 3: 1
  • LEASE 2: N
  • LEASE 1: N
  • FLRS 3: 3

MLS Schools

  • High School: Lynn Classical
  • Middle Or Junior School: Breed Jr. High

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 22, 2021
Closed on
Mar 26, 2021
Sold by
Foukas Paul
Bought by
Blacker Adam and Cooley Megan
Seller's Agent
Beth Connor
Connor Real Estate
Buyer's Agent
Frank Celeste
Gibson Sotheby's International Realty
List Price
$649,900
Sold Price
$665,000
Premium/Discount to List
$15,100
2.32%
Current Estimated Value
$830,651

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$165,651
Avg. Annual Appreciation
4.88%
Original Mortgage
$549,950
Outstanding Balance
$491,005
Interest Rate
2.73%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$339,646

Purchase Details

Closed on
Oct 1, 2020
Sold by
40 Spencer Street Rt and Foukas
Bought by
Foukas Paul

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$415,500
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 1, 2019
Sold by
Zap Rt and Demotses
Bought by
40 Spencer Street Rt and Foukas

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$327,750
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 1, 2013
Sold by
Foukas
Bought by
Zap Rt and Foukas

Purchase Details

Closed on
Aug 17, 1998
Sold by
Forty Spencer St Rt and Nugent
Bought by
Foukas

Purchase Details

Closed on
Mar 3, 1995
Sold by
Fnma
Bought by
40 Spencer St Rt and Nugent

Purchase Details

Closed on
Aug 26, 1994
Sold by
Foukas Paul A and Federal Natl Mtg Assoc
Bought by
Fhlmc

Purchase Details

Closed on
Jan 10, 1990
Sold by
Moriarty Ellen
Bought by
Foukas Paul

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$129,350
Interest Rate
9.61%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Date Buyer Sale Price Title Company
Blacker Adam $665,000 None Available
Blacker Adam $665,000 None Available
Foukas Paul -- None Available
Foukas Paul -- None Available
40 Spencer Street Rt $345,000 --
40 Spencer Street Rt $345,000 --
Zap Rt -- --
Zap Rt -- --
Foukas $43,950 --
Foukas $43,950 --
40 Spencer St Rt $43,950 --
40 Spencer St Rt $43,950 --
Fhlmc $55,000 --
Fhlmc $55,000 --
Foukas Paul $140,500 --
Foukas Paul $140,500 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Blacker Adam $549,950
Closed Blacker Adam $549,950
Previous Owner Foukas Paul $415,500
Previous Owner 40 Spencer Street Rt $327,750
Previous Owner Foukas Paul $129,350
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/26/2021 03/26/21 Sold $665,000 +2.3% $277 / Sq Ft
02/01/2021 02/01/21 Pending -- -- --
01/22/2021 01/22/21 For Sale $649,900 -- $271 / Sq Ft
Source: MLS Property Information Network (MLS PIN)

Tax History Compared to Growth

Source: Public Records

Tax History

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 $7,563 $730,000 $183,900 $546,100
2024 $7,489 $711,200 $171,000 $540,200
2023 $7,492 $671,900 $189,100 $482,800
2022 $7,173 $577,100 $144,900 $432,200
2021 $6,708 $514,800 $125,200 $389,600
2020 $6,524 $486,900 $128,400 $358,500
2019 $6,288 $439,700 $114,700 $325,000
2018 $5,754 $379,800 $103,400 $276,400
2017 $5,795 $371,500 $90,500 $281,000
2016 $5,414 $334,600 $83,300 $251,300
2015 $5,042 $301,000 $85,700 $215,300
Source: Public Records

Agents Affiliated with this Home

  • B

    Seller's Agent in 2021

    Beth Connor

    Connor Real Estate

    (781) 504-3505

    2 in this area

    32 Total Sales

    Beth Connor
    Section Image
  • Frank Celeste

    Buyer's Agent in 2021

    Frank Celeste

    Gibson Sothebys International Realty

    (617) 872-3227

    1 in this area

    462 Total Sales

    Frank Celeste
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72777813

MLS Property Information Network (MLS PIN)

APN: LYNN-000037-000276-000014

Massachusetts Essex County Lynn 01905 West Lynn

40 Spencer St, Lynn, MA

Not Listed for Sale

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