693 Western Ave #404LynnMA01905
INVESTMENT ANALYSIS
Investment Verdict
Strong Cash FlowThe yield at 693 Western Ave #404, Lynn, MA, 01905 in Lynn speaks for itself: 10.25% gross on a $290,000 price, generating $2,477/mo in rent and $649/mo in net income after the $1,304/mo debt service. DSCR 1.90, a wide margin that supports Ziffy Mortgage's DSCR loan without any personal income check. Annual cash flow of $7,788 stacks alongside $80,122 in projected five-year appreciation and $2,671/yr in principal reduction. Projected total cumulative return: $151,892.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 10.3% | 6.5% |
| Monthly Cash Flow | $649 | $420 |
City averages based on Lynn market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,477 |
| Total Monthly Debt Service | $1,712 |
| DSCR Ratio | 1.45x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Condo
Built in 2019
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01905, Lynn, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,489 (100%) |
| Owner Occupied HU | 4,328 (45.6%) |
| Renter Occupied HU | 4,851 (51.1%) |
| Vacant Housing Units | 310 ( 3.3%) |
| Median Home Value | $571,318 |
| Average Home Value | $612,037 |
Housing Distribution
Address Breakdown
Residential
9,026
Single Family
6,917
Multi-Family
2,109
Businesses
507
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Condo
Built in 2019
0.51 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 01905, Lynn, MA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,489 (100%) |
| Owner Occupied HU | 4,328 (45.6%) |
| Renter Occupied HU | 4,851 (51.1%) |
| Vacant Housing Units | 310 ( 3.3%) |
| Median Home Value | $571,318 |
| Average Home Value | $612,037 |
Housing Distribution
Address Breakdown
Residential
9,026
Single Family
6,917
Multi-Family
2,109
Businesses
507
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Zambrano Properties & Associates • RE/MAX 360
Mls Name: MLS PIN
Mls ID: #73410458