589 Essex St UNIT 303LynnMA01901
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Lynn at 589 Essex St UNIT 303, Lynn, MA, 01901 generates $2,711/mo in rent and, after a $1,953/mo payment, leaves $196/mo in cash flow. Total monthly income is $2,711/mo, and annual cash flow is $2,353/yr on $132,269 invested. Return on cash invested sits at 21.69% in year one, and rental yield is 8.15% on a $399,000 entry. Equity gained on principal adds $2,575/yr, while 5% annual appreciation builds toward $110,236 over five years. Five-year ROI reaches 112.56% and total cumulative return in cash sums $148,886. For financing, investors can use Ziffy Mortgage’s DSCR loan, which considers $2,711/mo property income rather than buyer’s personal income.
Condo
Built in 1823
0.58 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01901, Lynn, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,461 (100%) |
| Owner Occupied HU | 166 ( 6.7%) |
| Renter Occupied HU | 2,160 (87.8%) |
| Vacant Housing Units | 135 ( 5.5%) |
| Median Home Value | $541,667 |
| Average Home Value | $515,828 |
Housing Distribution
Address Breakdown
Residential
1,961
Single Family
40
Multi-Family
1,921
Businesses
531
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Listed by: Issam Dib • Skyline Realty
Mls Name: MLS PIN
Mls ID: #73404424