220 Essex St Lynnfield — Photo 1 of 42
$899,000
Investment Analysis — 220 Essex St
Lynnfield, MA 01940
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 5-bedroom in 01940 carries an estimated $4,300/mo in gross rent — about a 2.98% cap rate and $26,764/yr in estimated NOI at the $899,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
3
SqFt
3,649
Style
Single Family
Built
1958
Welcome to 220 Essex Street, a spacious Colonial set on .97 acres in desirable Lynnfield. Offering approximately 3,649 sq. ft. of living space, this home features five bedrooms, three full baths, a two-car garage and a generous yard with plenty of room to enjoy the outdoors. Built in 1958, the property offers a wonderful opportunity for buyers looking to renovate, update and create a home that reflects their own style and vision. With its spacious floor plan, generous room sizes and nearly one acre of land, there is tremendous potential throughout. This property is being sold as part of a family estate and has been unoccupied for an extended period of time. Sellers have never occupied the property and make no representations regarding its condition. Title V inspection did not pass, and the sellers will not be repairing or replacing the septic system. Property is being sold as-is. Buyers and buyers’ agents are responsible for performing their own due diligence and verifying all information.
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 3,649 sq ft principal dwelling). Lot size: 42,253 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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Amenities & Appliances
Gas Water Heater • Refrigerator
Neighborhood
Shopping • Park • Walk/Jog Trails • Golf • Medical Facility • Bike Path
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Floorplan Breakdown
Structural Layout
Living Room
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Lvl SecondBedroom 2
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Lvl SecondListing Agent: Louise Touchette Team
Listing Office: Coldwell Banker Realty - Lynnfield
MLS® Number: 73573598
