NOT LISTED FOR SALE

550 Eastern Ave Lynn, MA 01902

Chatham Street Neighborhood

Estimated Value: $825,000 - $991,000

6 Beds
3 Baths
2,386 Sq Ft
$372/Sq Ft Est. Value

Last Sold February 17, 2022

Last sale price $705,000 $295 Per Sq Ft

Est. 26% increase in value since last sale

Current estimated payment $5,318/month

6 Days on Market

About This Home

As of February 2022

Great Investor opportunity or owner occupant looking to start investing in a multi 3 family located in the highly sought after East Lynn, Swampscott line. Easy major route accessibility and close proximity to Flax Pond, Target and Home Depot. Property offers great back yard space with shed, cabana and plenty of parking. Each unit has 2 bedrooms and 1 Bath with potential for an additional bedroom on units 1 & 2, eat in kitchen with dishwashers in units 1 & 2 hardwood floors throughout in good condition. Vinyl windows and sidings front porches recently updated. With inventory being so low don't miss out on the chance to own this income producing property priced to sell.

Last Agent to Sell the Property

Hector Cocar

Skylimit Real Estate LLC Listed on: 11/08/2021

Co-Listed By

Barbara King

Cameron Real Estate Group - Salem

Last Buyer's Agent

Francis Santaniello

Weichert REALTORS® Blueprint Brokers

Weichert REALTORS® Blueprint Brokers

Property Details

Home Type

  • Multi-Family

Year Built

  • 1915

Lot Details

  • 5,227

Interior Spaces

  • Property has 1 Level

Property Details

Home Type

Multi-Family

Year Built

1915

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: 3 Family
  • SUB AGENCY OFFERED: No
  • Compensation Based On: Net Sale Price
  • APOD AVAILABLE: No
  • Directions: Use GPS
  • Garage Yn: No
  • Road Frontage Type: Public
  • Year Built Details: Unknown/Mixed
  • Special Features: None
  • Year Built: 1915

Interior Features

  • Appliances: Oil Water Heater,Gas Water Heater, Utility Connections for Gas Range, Utility Connections for Electric Range
  • Has Basement: Full, Walk-Out Access, Concrete, Unfinished
  • MAIN LO: AC0756
  • MAIN SO: AC2395
  • Full Bathrooms: 3
  • Total Bedrooms: 6
  • Fireplace: No
  • Flooring: Wood,Carpet,Laminate
  • Stories: 6
  • Window Features: Insulated Windows

Exterior Features

  • Roof: Other
  • Exterior Features: Balcony
  • Foundation Details: Stone
  • Construction Type: See Remarks
  • Fencing: Fenced
  • Lot Features: Other
  • Patio And Porch Features: Porch
  • Waterfront Features: Beach Front, Other (See Remarks), 3/10 to 1/2 Mile To Beach, Beach Ownership(Public)
  • Waterfront: Yes

Garage/Parking

  • Parking Features: Off Street
  • Total Parking Spaces: 6

Utilities

  • Electric: 100 Amp Service
  • Sewer: Public Sewer
  • Utilities: for Gas Range, for Electric Range
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Other

Lot Info

  • LOT SIZE: 5237
  • Farm Land Area Units: Square Feet
  • Lot Size Sq Ft: 5227.2
  • Zoning: R1

Multi Family

  • LEVELS 1: 1
  • LEVELS 3: 1
  • LEASE 3: N
  • LEASE 2: Y
  • LEASE 1: N
  • FLRS 3: 3
  • Annual Gross Income: 50400
  • Property Net Operating Income: 50400
  • Number Of Units Total: 3
  • Total Actual Rent: 4200

Tax Info

  • Tax Annual Amount: 7295
  • Tax Book Number: 20211
  • Tax Year: 2021

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 8, 2021
Closed on
Feb 17, 2022
Sold by
Woods Carlotta M and Woods Robert
Bought by
Tejada-Flores Julio M
Seller's Agent
Hector Cocar
Skylimit Real Estate LLC
Buyer's Agent
Francis Santaniello
Weichert REALTORS® Blueprint Brokers
List Price
$700,000
Sold Price
$705,000
Premium/Discount to List
$5,000
0.71%
Current Estimated Value
$887,262

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$182,262
Avg. Annual Appreciation
6.04%
Original Mortgage
$528,750
Outstanding Balance
$491,117
Interest Rate
3.88%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$396,145

Purchase Details

Closed on
Feb 24, 2003
Sold by
Woods Carlotta M and Woods Robert R
Bought by
Woods Robert R

Purchase Details

Closed on
Jul 30, 1999
Sold by
Hrubes William J and Hrubes Carol Ann
Bought by
Woods Robert R and Gagner Collota M
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

Date Buyer Sale Price Title Company
Tejada-Flores Julio M $705,000 None Available
Tejada-Flores Julio M $705,000 None Available
Woods Robert R -- --
Woods Robert R -- --
Woods Robert R $182,000 --
Woods Robert R $182,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Tejada-Flores Julio M $528,750
Closed Tejada-Flores Julio M $528,750
Previous Owner Woods Robert R $326,250
Previous Owner Woods Robert R $50,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/17/2022 02/17/22 Sold $705,000 +0.7% $295 / Sq Ft
11/15/2021 11/15/21 Pending -- -- --
11/08/2021 11/08/21 For Sale $700,000 -- $293 / 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 $8,687 $838,500 $203,100 $635,400
2024 $8,651 $821,600 $193,400 $628,200
2023 $7,888 $707,400 $188,500 $518,900
2022 $7,735 $622,300 $157,200 $465,100
2021 $7,295 $559,900 $135,700 $424,200
2020 $6,952 $518,800 $128,200 $390,600
2019 $6,781 $474,200 $119,800 $354,400
2018 $6,342 $418,600 $116,700 $301,900
2017 $6,090 $390,400 $103,100 $287,300
2016 $5,637 $348,400 $91,200 $257,200
2015 $5,085 $303,600 $82,800 $220,800
Source: Public Records

Agents Affiliated with this Home

  • Hector Cocar

    Seller's Agent in 2022

    Hector Cocar

    Skylimit Real Estate LLC

    (617) 977-4500

    2 in this area

    32 Total Sales

    Hector Cocar
    Section Image

  • B

    Seller Co-Listing Agent in 2022

    Barbara King

    Cameron Real Estate Group - Salem

    Section Image

  • F

    Buyer's Agent in 2022

    Francis Santaniello

    Weichert REALTORS® Blueprint Brokers

    (857) 204-7179

    1 in this area

    33 Total Sales

    Francis Santaniello
    Section Image
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Map

Source: MLS Property Information Network (MLS PIN)

MLS Number: 72917475

MLS Property Information Network (MLS PIN)

APN: LYNN-000097-000454-000004

Massachusetts Essex County Lynn 01902 Chatham Street

550 Eastern Ave, Lynn, MA

Not Listed for Sale

MultiFamily

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