Active

232 Days on market

2 Chestnut Terrace Lynn — Photo 1 of 40

Recent Drop: $19,999

$589,999

$570,000

Investment Analysis — 2 Chestnut Terrace

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 4.17% cap rate and $23,757/yr in estimated NOI at the $570,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,536

Style

Single Family

Built

1900

Welcome to this bright, sun-drenched home with lovely views of Flax Pond! The open-concept living and kitchen area features soaring cathedral ceilings and multiple skylights, creating an airy, inviting space filled with natural light. The kitchen is beautifully appointed with stainless steel appliances, white shaker cabinets, and granite countertops. The spacious main bedroom is conveniently located on the main living level, a true retreat flooded with sunlight throughout the day. The partially finished basement offers flexible space, perfect for a family room, home office, or workout area. Upstairs, you'll find two bedrooms plus a versatile pass-through room ideal for a nursery, office, or creative space. A wonderful opportunity to enjoy comfortable living with scenic pond views!

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: 768 sq ft (the lesser of 900 sq ft or half the 1,536 sq ft principal dwelling). Lot size: 1,721 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.