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589 Essex St # 407, Lynn MA 01901

Lynn, MA 01901 • East Lynn
$405,000
Est. $2,962/month
1
Beds
1
Baths
936
Sq Ft
$433
Price/Sq Ft
0.58
Acres
1892
Year Built
20
Days on Market
Closed Listed May 28, 2024 • MLS# 73243211 Copied!

About this home

Your North Shore lifestyle awaits at sought-after Sloan Machinery Lofts! Top floor unit w/deeded roof rights and parking, in-unit laundry w/storage, and large walk-in closet. This beautifully designed brick-and-beam industrial loft offers a versatile open concept layout w/dramatic 12’ ceilings, warm oak floors, and oversized windows, creating an airy, light-filled space. Fully applianced kitchen. Professionally managed HOA w/high owner occupancy and healthy financials. Recent $9,500 unit assessment paid in full for new roof. Pet friendly and FHA approved. Experience the neighborhood's diverse businesses, eateries, museums, art galleries, murals, and farmer's market. Downtown Lynn's Commuter Rail offers a quick 20 minute train ride to Boston! Walkable to the ocean and beaches along the gorgeous stretch of Lynn Shore/Nahant Beach Coastal Reservation. Don't miss The Northern Strand Bike Trail, majestic Lynn Woods, and Gannon Golf Course. Easy access to Logan Airport and major highways.

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Property Overview

Property Type
Condominium
Listing Type
For Sale
Year Built
1892
Bedrooms
1
Full Bathrooms
1
Living Area
936 sq ft
Total Rooms
2
Stories
1
Entry Level
4

Sale Statistics

Sale Overview
Original List Price: $399,000
Final Sale Price: $405,000
Difference: +$6,000 (+1.5%)
Performance Metrics
101.5%
List to Sale Ratio
Sold above asking price
20
Days on Market
Quick sale
Price per Square Foot Analysis
Original $/sq ft: $426
Sale $/sq ft: $433
This property sold for $433 per square foot
Sale Summary

This property sold for 1.5% above the original asking price, indicating strong buyer demand.

With only 20 days on market, this was a quick sale compared to typical market conditions.

Nearby Sales Comparison

Based on 5 similar properties sold within 0.5 miles in the last 90 days

This Property
$433/sq ft
Area Average
$275/sq ft
Difference
+57.2%

This property sold for significantly more per square foot than similar nearby properties, suggesting premium features or condition.

Facts & Features

Central AC

Home Facts

Type Residential
Style Condominium
Year Built 1892
Living Area 936 sq ft
Lot Size 0.58 acres
Bedrooms 1
Full Baths 1
Total Rooms 2

Interior

Heating Forced Air, Natural Gas, Individual, Unit Control
Cooling Central Air, Individual, Unit Control
Flooring Tile, Hardwood
Appliances Range, Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer
Fireplace None
Basement N
Laundry Electric Dryer Hookup, Walk-in Storage, Washer Hookup, First Floor, In Unit, Gas Dryer Hookup
Features Walk-in Closet(s), Entry Hall

Exterior

Construction Brick, Post & Beam
Architecture None
Roof None
Features Deck - Roof + Access Rights
Pool None
Spa None
Fencing None
Patio/Porch Deck - Roof + Access Rights

Parking

Features Off Street, Assigned, Deeded, Paved
Total Spaces 1

Utilities

Electric None
Water Public
Sewer Public Sewer
Gas None
Other For Gas Range, For Gas Oven, For Gas Dryer

Financial

Annual Tax $4,230
Assessed Value $401,700

Interior Features

Flooring: Tile, Hardwood
Appliances: Range, Dishwasher, Disposal, Microwave, Refrigerator, Freezer, Washer, Dryer
Interior Features: Walk-In Closet(s), Entry Hall
Windows:
Basement: N
Laundry: Electric Dryer Hookup, Walk-in Storage, Washer Hookup, First Floor, In Unit, Gas Dryer Hookup
Security: Intercom

Construction & Materials

Year Built: 1892
Effective Year (Renovated): 2005
Structure Type: Mid-Rise, Loft
Exterior Materials: Brick, Post & Beam
Roof:
Foundation:
Stories: 1

Heating, Cooling & Utilities

Heating: Forced Air, Natural Gas, Individual, Unit Control
Heating Zones: 1
Cooling: Central Air, Individual, Unit Control
Cooling Zones: 1
Hot Water:
Water Source: Public
Sewer: Public Sewer
Energy Features:

Exterior & Lot

Exterior Features: Deck - Roof + Access Rights
Patio & Porch: Deck - Roof + Access Rights
Fencing:
Other Structures:
Lot Features:
Road Surface:

Parking & Garage

Total Parking Spaces: 1
Parking Features: Off Street, Assigned, Deeded, Paved

Location

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Neighborhood

East Lynn

589 Essex St # 407, Lynn MA 01901

Lynn, MA 01901

Walkability

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Nearby Schools

School District
Lynn School District local
D
School Safety 2024-25
3.5% Above Average
3.0% Suspensions 0.3% In-School 0.1% Expulsions 0.4% Emergency
2.0% below state avg
E

Elementary Schools

10 schools
B-
KIPP Academy Lynn Charter School
0.2 mi | #197 of 346 | Score: 51.6
Improved 64 spots from last year
-6.6 below state avg
1,637 students Moderate
High Graduation Rate Rising School College Ready Curriculum
Grades K-12
C-
Lynn Vocational Technical Institute
0.5 mi | #284 of 346 | Score: 42.8
Improved 50 spots from last year
-15.5 below state avg
1,584 students Moderate
Early College Program Rising School Career Tech Programs
Grades PK-12
St. Pius V Elementary School
1.0 mi
Grades PK-08
Sacred Heart Elementary School
1.2 mi
Grades PK-08
The Hathaway School
1.4 mi
Grades PK-08
North Shore Christian School
1.6 mi
Grades PK-08
TEAMS Academy at Virginia Barton Center
2.1 mi
Grades PK-12
C-
Cobbet Elementary School
0.2 mi | #696 of 824 | Score: 36.0
Improved 70 spots from last year
-22.3 below state avg
616 students Less Diverse
Rising School
Grades PK-05
C
Washington Elementary School
0.3 mi | #646 of 824 | Score: 38.4
Improved 125 spots from last year
-19.8 below state avg
453 students Moderate
Rising School
Grades K-05
C
Robert L Ford School
0.4 mi | #614 of 824 | Score: 40.0
Improved 183 spots from last year
-18.2 below state avg
410 students Less Diverse
Rising School
Grades K-05
M

Middle Schools

2 schools
C-
Thurgood Marshall Middle School
1.1 mi | #311 of 352 | Score: 30.5
Improved 40 spots from last year
-27.7 below state avg
1,310 students Moderate
Rising School
Grades 06-08
C+
Pickering Middle School
1.5 mi | #226 of 352 | Score: 38.6
Improved 81 spots from last year
-19.6 below state avg
583 students Diverse
Rising School
Grades 06-08
H

High Schools

6 schools
St. Mary's High School
0.2 mi
Grades 07-12
City Arts & Sciences Academy at Fecteau-Leary
0.3 mi
Grades 06-12
B
Fredrick Douglass Collegiate Academy
0.5 mi | #12 of 25 | Score: 33.4
Improved 330 spots from last year
-24.8 below state avg
235 students Moderate
Early College Program Rising School
Grades 06-12
B-
Harold Durgin Success Academy
0.3 mi | #16 of 25 | Score: 30.4
Improved 329 spots from last year
-27.8 below state avg
94 students Diverse
Rising School Career Tech Programs
Grades 09-12
D
Lynn English High School
0.8 mi | #318 of 346 | Score: 33.5
Improved 37 spots from last year
-24.8 below state avg
2,062 students Moderate
18 sports • 1,425 athletes
Early College Program Rising School Career Tech Programs Strong Athletics
Grades 09-12
C-
Classical High School
1.8 mi | #302 of 346 | Score: 37.9
Improved 51 spots from last year
-20.3 below state avg
1,795 students Moderate
Early College Program Rising School Career Tech Programs
Grades 09-12
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Monthly Payment Calculator

Monthly Payment
$0
Principal, interest, taxes & insurance
Loan Amount
$0
After down payment
Total Interest
$0
Over life of loan
Total Cost
$0
Including down payment
%
Down: $0
%

Monthly Payment Breakdown

Principal & Interest $0
Property Tax $353
Homeowners Insurance $200
HOA Fee $362/mo
PMI (if <20% down) $0

Loan Summary

Total of 360 payments $0
Total principal paid $0
Total interest paid $0

Rate Impact

-0.5% Rate
$0/mo
Save $0/mo
Current Rate
$0/mo
+0.5% Rate
$0/mo
Cost $0/mo

Payment Over Time

Interest
Principal
Year 1
95% Interest
Year 15
50/50
Year 30
95% Principal
* Estimates only. Actual payments may vary. Consult with a lender for accurate figures.

Property History

Market Insights

1.5%
Price Range
22
Total Days on Market

Property Timeline

Sold
Jun 28, 2024
$405,000
Property sold
Days on Market: 22
🏠
Listed for Sale
May 28, 2024
$399,000
Original listing
Agent: Soraya Cacici Office: Nest Forward

Price & Status History

Date Event Price Change
May 28, 2024 New Listing Added $399,000

Market Statistics

Days on Market
20 days
Price per Sq Ft
$433

Tax History

Year Taxes Assessment
2024 $4,230 $401,700

Financial Details

Annual Property Tax
$4,230
Tax Year 2024
HOA Fee
$362
Monthly
Assessed Value
$401,700

Listing Information

Agent MLS ID NB111450
Office MLS ID AC0684
Listing Data Updated Jul 2, 2024 7:44 PM EDT
Listing information is deemed reliable but not guaranteed. Data provided by MLS Property Information Network, Inc. All information should be independently verified.

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Market Analytics for Lynn, MA

Real-time market trends and pricing data for this area

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