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59 Colonial Ave Lynn — Photo 1 of 42

$675,000

Investment Analysis — 59 Colonial Ave

Lynn, MA 01904

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01904 carries an estimated $3,080/mo in gross rent — about a 3.19% cap rate and $21,549/yr in estimated NOI at the $675,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

2,018

Style

Single Family

Built

1950

Welcome to 59 Colonial, in the highly sought-after neighborhood of Ward 1. This thoughtfully renovated 3-bedroom, 2-bath home offers inviting spaces designed for both relaxing and entertaining. Two bedrooms feature beautiful cathedral ceilings, adding an airy, open feel and extra character. At the heart of the home is a renovated kitchen with a beverage cooler and plenty of space to cook, gather, and create memories. Both bathrooms have been beautifully renovated with a fresh, modern feel, while mini-split systems throughout the bedrooms and main living areas provide year-round heating and cooling comfort. Many of the home's major systems and infrastructure have also been thoughtfully updated, including windows, vinyl siding, plumbing, electrical, ductwork, water systems, and laundry connections. Fully paid-off solar panels with a transferable prepaid maintenance plan add even more value. Downstairs, the basement offers exciting potential to be finished, allowing the next owner to create additional space for a family room, home office, gym, playroom, or whatever best fits their lifestyle. With its combination of character, modern improvements, comfortable living spaces, and room to grow, this home is ready for its next chapter.

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 2,018 sq ft principal dwelling). Lot size: 5,249 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.