Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Renovated Three-Family Home Title is generated by Realmo AI

    316 Essex St, Lynn, MA 01902

    View on Map
    Claim this Listing
    For Sale
    $1,299,000

    Turnkey three-family home, renovated, great for investment or owner-occupied.

    Type:Investment
    Added:
    Apr 13, 2026
    Days on Market:
    51
    Last Refresh:
    Apr 13 at 6:00 am

    Property Features for 316 Essex St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1876

    We can help!

    Listing Contact
    Victoria Guerra

    Listing agent Victoria Guerra License #9570054

    Listing office Coldwell Banker Realty - Marblehead

    Listing date Apr 13, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty - Marblehead

    HighLights

    • Completely renovated 3‑family home just two years ago.
    • Excellent income potential with current rents of $3,000 and $3,200.
    • New kitchens boast quartz countertops, complemented by new bathrooms and plumbing.
    • Convenient location: walk to schools, beach, bus, and commuter rail.
    • Tenancy at will for all three units.
    • Close proximity to restaurants, shops, Logan Airport, and Downtown Boston.

    Overview

    This is a three-family home suitable for investment or owner occupancy, renovated from top to bottom two years ago. The property features new kitchens with quartz countertops, new bathrooms, and new plumbing throughout. Hardwood floors are installed throughout the home. Public laundry hookups are located in the basement. The first and third floors are rented for $3,000 each, while the second floor is rented for $3,200. All three floors have tenancy at will. The property is conveniently located within walking distance to schools, the beach, the bus line, and the commuter rail. It is also in close proximity to restaurants and shops, with a short distance to Logan Airport and Downtown Boston. The location offers easy access to amenities. The property has a walk score of 79, indicating it is very walkable, a transit score of 44, indicating some transit options are available, and a bike score of 26, indicating it is somewhat bikeable.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Gym & Fitness Center Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lynn
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9396807
    Latitude
    42.4698284

    Nearby Similar for Sale

    • $599,000
      1,776 SF

      Well-Maintained Two-Family Home in Lynn

      Two-family property in Lynn, MA with investment potential.
      10 Essex Ct, Lynn, MA 01902
      View Details
    • $800,000
      3,000 SF

      Turnkey Commercial Property in Lynn

      Turnkey commercial property with immediate income and long-term potential.
      52-56 Central Sq, Lynn, MA 01901
      View Details
    • $1,495,000
      19,473 SF

      Lynn Mixed-Use Investment Opportunity

      Multi-tenant building with value-add potential in Lynn, MA.
      723 Summer St, Lynn, MA
      View Details
    • $800,000
      3,000 SF

      Turnkey Commercial Property in Lynn

      Two-unit commercial property with immediate income and long-term potential.
      52-56 Central Sq, Lynn, MA, MA 01901
      View Details
    • $825,000
      4,000 SF

      Spacious Two-Family Home

      Two-family home with over 4000 sq ft of living space.
      128 Franklin St, Lynn, MA 01902
      View Details
    • $979,900

      Renovated Two-Family Home

      Meticulously renovated two-family home with modern updates throughout.
      55 Winthrop St, Lynn, MA 01904
      View Details
    • $889,000

      Spacious Move-In Ready Lynn Home

      Inviting, well-maintained home with spacious layout and modern kitchen.
      37 Howard St, Lynn, MA 01902
      View Details
    • $825,000

      Commercial Building in Downtown Lynn

      Commercial building with auto repair shop and parking lot.
      287 Essex St, Lynn, MA 01902
      View Details
    • $1,165,000
      4,000 SF

      Renovated Mixed-Use Property in Lynn

      Four-unit mixed-use property with commercial and residential spaces.
      431-433 Chatham, Lynn, MA 01902
      View Details
    • $1,300,000
      4,251 SF

      Pristine Multifamily Overlooking Goldfish Pond

      Well-maintained four-family house with pond views, close to amenities.
      11 Parker Ave, Lynn, MA 01902
      View Details
    • $850,000
      2,844 SF

      Well-Maintained Two-Family Property

      Two-family property in Lynn with upside potential.
      48 Saratoga Street, Lynn, MA 01902
      View Details
    • $1,299,000
      3,473 SF

      Renovated Three-Family Home

      Completely renovated three-family home, ideal for investment or owner-occupancy.
      316 Essex St, Lynn, MA 01902
      View Details

    FAQs

    What type of property is this?
    Triplex - Turnkey three-family home, renovated, great for investment or owner-occupied.
    Where is this triplex located?
    The property is located at 316 Essex St Lynn, MA.
    What is the asking price?
    The asking price for this property is $1,299,000.
    What are key features of this property?
    This property features: Completely renovated 3‑family home just two years ago.; Excellent income potential with current rents of $3,000 and $3,200.; New kitchens boast quartz countertops, complemented by new bathrooms and plumbing.
    (617) 599-3122
    We can help!
    Listing Contact
    Victoria Guerra
    Real Estate License ID: 9570054
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    316 Essex St, Lynn, MA 01902
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!