
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.
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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Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer
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Public Transportation • Shopping • Park • Medical Facility • Laundromat • Highway Access
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstFlooring - Hardwood, Wainscoting, Lighting - Overhead
Dining Room
Lvl FirstFlooring - Hardwood, Lighting - Overhead
Kitchen
Lvl FirstCeiling Fan(s), Flooring - Hardwood, Countertops - Upgraded, Stainless Steel Appliances, Gas Stove, Lighting - Overhead
Office
Lvl BasementCloset/Cabinets - Custom Built, Flooring - Wall to Wall Carpet, Lighting - Overhead
Family Room
Lvl nullFlooring - Wall to Wall Carpet, Lighting - Overhead
Primary Bedroom
Lvl SecondCeiling Fan(s), Closet
Bedroom 2
Lvl SecondBedroom 3
Lvl BasementWalk-In Closet(s), Flooring - Wall to Wall Carpet, Lighting - Overhead
Bathroom 1
Lvl FirstBathroom - Full, Bathroom - Tiled With Tub, Flooring - Stone/Ceramic Tile, Double Vanity
Listing Agent: Patricia Nunez
Listing Office: Redfin Corp.
MLS® Number: 73575411