199 Allen Ave · Lynn, MA 01902

$509,900

4 bd · 3.0 ba · 1,670 sqft · MultiFamily public records · 13 Days on market

Built 1890 2,609 sqft lot $305/sqft · 33% below area Est $765k · 33% under

---

Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.7/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

NEWLY RENOVATED; NEW WINDOWS, CARPETS, LINO, TILE FLOOR IN 1ST & 2ND BATHS, NEW KITCHEN ON 2ND FL, VYNAL SIDED, TOTALLY VACANT. VACANT. QUICK CLOSING.

Key facts

• 2,609 sq ft lot
• 2 parking spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $510k.

Deal economics

• At list price, monthly cash flow is $516 ($6k/yr) — positive. Per door: $258/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $492k (3.5% below list).
• Recommended offer: $492k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.6% in Lynn — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#74 in MA, #4,077 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, housing B+; Watch: amenities C-, schools D+, crime D-.
• Lynn (suburban): math 14% / reading 25% proficiency, ranked #293 of 302 in MA (top 97%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 51 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,032 units permitted in Essex County in 2024 (590 in 5+ unit buildings).
• At $4,922/mo this rent would consume 88% of the median local household income ($67k/yr) (locally 3883% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Essex County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $203k; list at $510k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $492,200 (3.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.51%
• Cash-on-cash: 4.33%
• DSCR: 1.19
• GRM: 8.6

CMA / ARV

• ARV (median comp): $765,308
• List price: $509,900
• Delta: -29.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
47 Rockaway St	0.42mi	5/3.0 (+1)	1,555 (-7%)	1mo	$630,000	$405	64
25 Acorn St	0.28mi	4/2.0	1,772 (+6%)	23mo	$565,000	$319	54
501 Chestnut St	0.47mi	4/2.0	1,792 (+7%)	13mo	$800,000	$446	51
195 Washington St	0.31mi	4/2.0	1,785 (+7%)	23mo	$725,000	$406	51
48 Eade St	0.41mi	5/2.0 (+1)	1,702 (+2%)	22mo	$600,000	$353	50
54 Rockaway Pl	0.39mi	4/2.0	1,440 (-14%)	16mo	$695,900	$483	41
205 Western Ave	0.55mi	4/2.0	1,909 (+14%)	14mo	$825,000	$432	35
106 Eutaw Ave	0.72mi	4/3.0	1,844 (+10%)	22mo	$635,000	$344	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.67% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.57×
• Total profit: $-61,087
• Equity at exit: $76,028

10-year hold

• IRR: -6.7%
• Equity multiple: 0.61×
• Total profit: $-55,152
• Equity at exit: $44,087

Cash invested: $142,772 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 20 Strongly Tenant-Friendly
• State Massachusetts: 20 Strongly Tenant-Friendly · D+15
• County: — inherits STATE
• City: — inherits STATE

Cambridge / Boston historically rent-controlled (preempted 1994 but consideration ongoing); strong tenant protections; court backlogs.

Methodology + full state rankings →

ZIP-level market 01902

• Rents YoY: 0.7%
• Active inventory: 51
• Price-to-rent: 17.3×

Monthly cashflow live

• Estimated rent: $4,922 high
• Mortgage (P&I): −$2,674
• Tax from tax record: −$486 /mo · $5,837/yr
• Insurance: −$212
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,034
• Net cashflow: $516

Break-even live

Break-even rent $4,269

Max offer price $509,900

Occupancy floor 85%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,922
Total (2 units)			$4,922

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $127,475
• Closing costs: $15,297
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
155 Allen Ave Unit 3 Lynn, MA	3.0	1.0	1149	$2,700	$2.35	18d	1	0.07mi
107 Hollingsworth St Unit 1 Lynn, MA	3.0	1.0	1200	$3,000	$2.50	18d	1	0.14mi
30 Henry Ave Unit 3 Lynn, MA	3.0	1.0	1500	$2,900	$1.93	24d	1	0.25mi
40 Rogers Ave Unit 2 Lynn, MA	3.0	1.0	1500	$3,000	$2.00	15d	1	0.25mi
43 High Rock St Unit 5 Lynn, MA	3.0	1.0	1100	$3,600	$3.27	2d	1	0.27mi
44 High Rock St #1 Lynn, MA	5.0	1.0	1800	$4,000	$2.22	43d	1	0.28mi
94 Rockaway St Unit 1 Lynn, MA	3.0	1.0	1150	$3,000	$2.61	18d	1	0.30mi
9 Rogers Ave Unit 1 Lynn, MA	4.0	1.0	1609	$3,500	$2.18	5d	1	0.30mi
20 Wilson St Unit 3 Lynn, MA	3.0	1.0	1200	$2,900	$2.42	43d	1	0.32mi
89 Johnson St Unit 2 Lynn, MA	3.0	1.0	1100	$3,300	$3.00	24d	1	0.32mi
25 Brimblecom St Unit 1 Lynn, MA	3.0	1.0	1164	$2,900	$2.49	43d	1	0.46mi
31 Ridgeway St Apt 1 Lynn, MA	3.0	1.0	1400	$3,000	$2.14	43d	1	0.47mi
31 Ridgeway St Apt 1 Lynn, MA	3.0	1.0	1400	$3,000	$2.14	15d	1	0.47mi
31 Ridgeway St Apt 1 Lynn, MA	3.0	1.0	1400	$3,000	$2.14	5d	1	0.47mi
43 Adams St Unit 1 Lynn, MA	3.0	1.0	1255	$2,975	$2.37	11d	1	0.48mi
43 Adams St Unit 2 Lynn, MA	3.0	1.0	1255	$2,975	$2.37	2d	1	0.48mi
43 Adams St Unit 1 Lynn, MA	3.0	1.0	1255	$2,975	$2.37	43d	1	0.48mi
10 Forest St Unit 3 Lynn, MA	3.0	1.0	1100	$2,800	$2.55	43d	1	0.54mi
103 Memorial Park Ave Unit 1 Lynn, MA	3.0	1.0	1344	$2,850	$2.12	12d	1	0.57mi
61 Park St Apt 3 Lynn, MA	3.0	1.0	2000	$3,200	$1.60	43d	1	0.60mi
3 Park St Unit 3 Lynn, MA	3.0	1.0	2000	$3,000	$1.50	43d	1	0.65mi
103 Tracy Ave Unit 2 Lynn, MA	3.0	1.0	1200	$3,000	$2.50	43d	1	0.68mi
69 Mall St Unit 2 Lynn, MA	4.0	1.0	1250	$3,300	$2.64	43d	1	0.71mi
65 Moulton St Lynn, MA	3.0	1.0	1071	$1,600	$1.49	18d	1	0.71mi
65 Moulton St Lynn, MA	3.0	1.0	1071	$1,400	$1.31	43d	1	0.71mi
23 Mall St Lynn, MA	3.0	1.0	1250	$2,650	$2.12	5d	1	0.72mi
23 Mall St Unit 12 Lynn, MA	3.0	1.0	1250	$2,650	$2.12	43d	1	0.72mi
23 Mall St Unit 12 Lynn, MA	3.0	1.0	1100	$2,650	$2.41	22d	1	0.72mi
184 Chestnut St Unit 2R Lynn, MA	3.0	1.0	1200	$1,800	$1.50	4d	1	0.73mi
48 Friend St Unit 2 Lynn, MA	3.0	1.0	1250	$2,850	$2.28	15d	1	0.75mi
70 Marianna St Unit 2 Lynn, MA	3.0	1.0	1200	$3,000	$2.50	43d	1	0.80mi
8 Tacoma St Lynn, MA	3.0	2.0	1320	$3,800	$2.88	43d	1	0.80mi
49 N Federal St Apt 3 Lynn, MA	3.0	1.0	1464	$3,000	$2.05	2d	1	0.82mi
347 Summer St Unit 2 Lynn, MA	4.0	2.0	1400	$3,500	$2.50	43d	1	0.83mi
63 Ingalls St Unit 1 Lynn, MA	3.0	1.0	1300	$2,749	$2.11	24d	1	0.85mi
98 Kirtland St Unit 1 Lynn, MA	3.0	1.0	1300	$2,799	$2.15	2d	1	0.91mi
15 Astor St Apt 1 Lynn, MA	3.0	1.0	1300	$2,799	$2.15	16d	1	0.93mi
31 Chestnut St Unit 1 Lynn, MA	3.0	1.0	1050	$2,900	$2.76	24d	1	0.96mi
40 Walter St Unit 1 Lynn, MA	3.0	1.5	1843	$3,849	$2.09	43d	1	0.98mi
83 Neptune St Unit 2 Lynn, MA	3.0	1.0	1300	$3,300	$2.54	24d	1	1.03mi

Listing history 14 events

1. 2026-06-18
   days on market $509,900 Active 13 DOM
2. 2026-06-17
   days on market $509,900 Active 12 DOM
3. 2026-06-16
   days on market $509,900 Active 11 DOM
4. 2026-06-15
   days on market $509,900 Active 10 DOM
5. 2026-06-13
   days on market $509,900 Active 8 DOM
6. 2026-06-13
   days on market $509,900 Active 7 DOM
7. 2026-06-09
   statusdays on market $509,900 Active 4 DOM
8. 2026-06-08
   days on market $509,900 New 3 DOM
9. 2026-06-07
   pricestatusdays on marketlisting id $509,900 New 2 DOM
10. 2001-08-29
    soldstatus $203,000 155-char remark

    Show marketing remark (155 chars)

    NEWLY RENOVATED; NEW WINDOWS, CARPETS, LINO, TILE FLOOR IN 1ST & 2ND BATHS, NEW KITCHEN ON 2ND FL, VYNAL SIDED, TOTALLY VACANT. VACANT. QUICK CLOSING.

11. 2001-08-29
    soldstatus $210,000

    Show marketing remark (155 chars)

    NEWLY RENOVATED; NEW WINDOWS, CARPETS, LINO, TILE FLOOR IN 1ST & 2ND BATHS, NEW KITCHEN ON 2ND FL, VYNAL SIDED, TOTALLY VACANT. VACANT. QUICK CLOSING.

12. 2001-05-16
    historical 155-char remark

    Show marketing remark (155 chars)

    NEWLY RENOVATED; NEW WINDOWS, CARPETS, LINO, TILE FLOOR IN 1ST & 2ND BATHS, NEW KITCHEN ON 2ND FL, VYNAL SIDED, TOTALLY VACANT. VACANT. QUICK CLOSING.

13. 2001-04-26
    listed $219,900 155-char remark

    Show marketing remark (155 chars)

    NEWLY RENOVATED; NEW WINDOWS, CARPETS, LINO, TILE FLOOR IN 1ST & 2ND BATHS, NEW KITCHEN ON 2ND FL, VYNAL SIDED, TOTALLY VACANT. VACANT. QUICK CLOSING.

14. 2001-02-16
    soldstatus $89,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MA · Partial reset (capped growth)

• Current annual tax: $5,837 · $486/mo
• Projected year-2 tax: $6,054 · $505/mo
• Expected delta: +$217/yr (+$18/mo · 3.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,064
• − Mortgage interest: −$28,562
• − Property taxes: −$5,837
• − Insurance: −$2,550
• − Repairs & maintenance: −$4,725
• − Management: −$4,725
• − Depreciation: −$14,833
• Taxable loss: −$2,169
• Est. tax savings @ 24.0%: +$520
• After-tax cash flow: $6,707/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lynn
• NCES district ID: 2507110
• Math proficiency: 14% ▼ -24.00%
• Reading proficiency: 25% ▼ -13.00%
• Median HH income: $46,781
• Composite: 17.15/100
• National rank: #9112
• State rank: #293 of 302 in MA

Livability — Lynn

• Score: 75/100
• State rank: #74
• US rank: #4077

Category grades

Amenities C- Commute A+ Cost of living F Crime D- Employment B Housing B+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lynn, MA
• County: Essex County · 632,995 people
• City population: 80,706
• Metro: Boston-Cambridge-Newton, MA-NH
• Population (ZIP): 50,066
• Household income: $67,046
• Rent vs Own: 63.1% rent · 36.9% own
• Severe rent burden: 3883.0

Population outlook (Essex County) Hauer SSP2

• Today (2025): 840,920 people
• By 2030: 872,201 · +3.7%
• By 2040: 927,918 · +10.3%
• By 2050: 970,206 · +15.4%
• By 2075: 1,077,993 · +28.2%
• By 2100: 1,103,053 · +31.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 50% White 27% Two or more races 16% Black 12% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 5% Dominican 18%
• Common ancestry: Lithuanian 1% Scotch-Irish 1% Hispanic 1%
• Foreign-born: 42% · Canada, China, Vietnam
• Languages at home: 40% English-only · Spanish 44% Other Indo-European 5% Other Asian/Pacific 4%

Political lean MEDSL · Essex

• 2024 margin: Strong D (+20.3) · D 59.2% · R 38.9% · Other 1.9%
• 2008→2024 swing: 0.0pp no change · 2008: 20.3pp · 2024: 20.3pp
• All cycles: 2024: D+20.3 2020: D+29.1 2016: D+22.5 2012: D+16.2 2008: D+20.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -317.68%
• Current HPI: 405.3049
• Rent YoY: ▲ 0.67%
• Metro: Boston-Cambridge-Newton, MA-NH
• State GDP YoY: ▲ 2.28%
• F500 in state: 38

Industry mix (Fortune 500 HQ in MA)

Industry	F500 HQs	Revenue
▸Technology	3	$17B
▸Insurance	2	$84B
▸Retail	2	$76B
▸Life Sciences	1	$43B
▸Energy Technology	1	$31B
▸Aerospace / Defense	1	$18B

Price history

+136.0% since first listed

5 events — show timeline

• 2001-08-29 Sold (Public Records) $210,000 Public Records
• 2001-08-29 Sold (MLS) $203,000 MLS PIN
• 2001-05-16 Listing Removed — MLS PIN
• 2001-04-26 Listed $219,900 MLS PIN
• 2001-02-16 Sold (Public Records) $89,000 Public Records

Property tax history

+5.5%/yr

Latest (2023): $5,837 · -2.6% YoY. Source: county tax records.