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294 Eastern Ave Lynn — Photo 1 of 39

294 Eastern Ave Lynn — Photo 1 of 39

$599,900

Investment Analysis — 294 Eastern Ave

Lynn, MA 01902

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01902 carries an estimated $3,080/mo in gross rent — about a 3.95% cap rate and $23,668/yr in estimated NOI at the $599,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

1

SqFt

1,454

Style

Single Family

Built

1890

Charming freshly painted and fully renovated colonial in a convenient location close to all area amenities. This beautiful property offers a unique blend of historical character and modern comfort with beautifully refinished hardwood floors throughout level on and in the elegant living room with custom window treatments and bright bay windows. The heart of this home, the kitchen, is fully renovated, equipped with sleek stainless steel appliances, gorgeous butcher block counter tops, new LVP flooring and new cabinets, providing a functional and stylish space for culinary projects. Unwind in the renovated bathroom, featuring a luxurious double vanity and a combination jetted bathtub with tiled shower, designed for relaxation and convenience. The spacious upstairs bedrooms have custom closets and built in custom shelving throughout. The partially finished basement was used as a luxurious primary suite with dressing room full of custom shelving and built ins, great for future use as a potential in-law or ADU. Beyond the interior, the property boasts off street parking and a private yard, offering a secluded outdoor retreat. A welcoming porch provides an inviting space to enjoy the surroundings. Perfect location with access to all major routes, shopping, restaurants, next to a bus stop and the train station only 1/4 mile away. To truly appreciate the lifestyle this unique property offers, schedule your private viewing today!

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: 727 sq ft (the lesser of 900 sq ft or half the 1,454 sq ft principal dwelling). Lot size: 2,535 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.

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Property Details

Financials

Original Price$599,900
Annual Taxes$4,422

Parking

Garage0
Off-Street4

Interior Specifications

Total Rooms6
Fireplaces1
FlooringTile, Hardwood, Flooring - Wall to Wall Carpet
BasementFull, Partially Finished

Climate & Utilities

HeatingSteam, Natural Gas
CoolingNone
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationBrick/Mortar
ZoningR2

Property & Lot

Acres0.06
SqFt Lot2,535
Lot Features--

Amenities & Appliances

Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Park • Medical Facility • Laundromat • Highway Access

Geography

Floorplan Breakdown

Structural Layout

Second
Primary BedroomBedroom 2
First
Living RoomDining RoomKitchenBathroom 1
Basement
OfficeBedroom 3
Unknown
Family Room
Living Room
Lvl First

Flooring - Hardwood, Wainscoting, Lighting - Overhead

Dining Room
Lvl First

Flooring - Hardwood, Lighting - Overhead

Kitchen
Lvl First

Ceiling Fan(s), Flooring - Hardwood, Countertops - Upgraded, Stainless Steel Appliances, Gas Stove, Lighting - Overhead

Office
Lvl Basement

Closet/Cabinets - Custom Built, Flooring - Wall to Wall Carpet, Lighting - Overhead

Family Room
Lvl null

Flooring - Wall to Wall Carpet, Lighting - Overhead

Primary Bedroom
Lvl Second

Ceiling Fan(s), Closet

Bedroom 2
Lvl Second
Bedroom 3
Lvl Basement

Walk-In Closet(s), Flooring - Wall to Wall Carpet, Lighting - Overhead

Bathroom 1
Lvl First

Bathroom - Full, Bathroom - Tiled With Tub, Flooring - Stone/Ceramic Tile, Double Vanity

Listing Provided By

Listing Agent: Patricia Nunez

Listing Office: Redfin Corp.

MLS® Number: 73575411