121 N Common Lynn — Photo 1 of 31
$999,000
Investment Analysis — 121 N Common
Lynn, MA 01902
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 14-bedroom in 01902 carries an estimated $3,390/mo in gross rent — about a 2.28% cap rate and $22,751/yr in estimated NOI at the $999,000 list price. Adjust every assumption in the calculator below.
Beds
14
Baths
4.5
SqFt
6,000
Style
Single Family
Built
1890
Large multi family/ rooming house in a prime location. 14 Bedrooms, 3 full bathrooms, 3 + half bathrooms and other large living areas including kitchen with updated cabinets and granite counters, hardwood floors. Recent updates and paint on top floor and some bathrooms. This is either a rooming house/micro units with big potential for value add or a re-development windfall at nearly 6000 sqft which could easily accommodate 6 new condos at 750sqft each with 1 car parking per unit. Elevator & sprinkler building which enhances it's development appeal. Finished lower level space adds potential for daylight walk out at garden level. High ceilings and original woodwork and character great for conversion, easy access to Western Ave, Nahant, Lynn and Revere waterfronts, walking distance to Commuter Rail, Market Basket as well as the booming Downtown Lynn district. This is an ideal next project. Contact listing agent for access.
ADU Potential
Massachusetts allows one accessory dwelling unit by right in single-family zoning districts statewide (M.G.L. c. 40A §3; 760 CMR 71.00, effective Feb 2025). Estimated maximum ADU size for this property: 900 sq ft (the lesser of 900 sq ft or half the 6,000 sq ft principal dwelling). Lot size: 5,158 sq ft.
Based on listing data, which indicates the property type — not the zoning district. Local dimensional, septic (Title 5), and historic-district requirements still apply. Not legal advice — verify with the municipality.
Estimates — not financial advice
These figures are illustrative estimates for informational purposes only — not an appraisal, valuation, or guarantee of rent, income, or returns, and not financial, tax, or investment advice. Rent is either the figure reported on the MLS listing — in-place rent that may differ from market and is not verified against the actual leases — or, where the listing reports none, an estimate from HUD Small Area Fair Market Rents, a government benchmark that may differ from actual market rent. Each figure is labelled with its source. Cap rate, NOI, and returns depend on the assumptions shown, which you can change. MLS and other third-party data may be inaccurate or out of date. Verify all figures independently and consult your own financial, tax, and legal advisors before making any investment decision.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Laundromat • House of Worship
Geography
Property History
$999,000
Aug 14, 2026
MLS® 73563789
$999,000
Jul 16, 2026
MLS® 73490100
$999,000
Mar 22, 2026
MLS® 73490100
$1,179,000
Feb 25, 2026
MLS® 73421740
$1,179,000
Aug 25, 2025
MLS® 73421740
Listing Agent: Dan Bernal
Listing Office: Atlantic Coast Homes,Inc
MLS® Number: 73563789