Active
5 Days on market
114 Chestnut Street North Reading — Photo 1 of 40

114 Chestnut Street North Reading — Photo 1 of 40

$1,189,000

Investment Analysis — 114 Chestnut Street

North Reading, MA 01864

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01864 carries an estimated $3,800/mo in gross rent — about a 1.83% cap rate and $21,762/yr in estimated NOI at the $1,189,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2.5

SqFt

2,864

Style

Single Family

Built

1948

Refined architecture, exceptional craftsmanship & picturesque grounds define this distinctive Cape designed by renowned architect George H. Sidebottom & masterfully built with I-beam construction. Carefully maintained & tastefully updated, this home showcases peg & groove hardwood floors, rich millwork, and custom built-ins throughout. The sprawling main level features a stunning kitchen with custom cabinetry, Quartzite counters & island, Sub-Zero refrigerator, gas range & brass pot filler. An elegant dining room with striking china cabinets opens to an expansive living room with impressive fireplace, and a delightful screened porch overlooking the serene backyard. Beyond the living room there are 2 bedrooms, a beautifully appointed full bath with imported tile, double vanity & walk-in shower, and abundant closets. This level also features an office, mudroom with laundry, and half bath. Upstairs you will find an inviting bedroom, full bath, walk-in cedar closet & generous storage. Enjoy central air, attached 2-car garage & nearly an acre of bucolic grounds with mature specimen trees, stone walls & a Lord & Burnham greenhouse. Conveniently located near I-93/95, Ipswich River Park, Ryer’s, MarketStreet shops & more. Expansion potential & a remarkable level of detail make this a truly special offering.

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 2,864 sq ft principal dwelling). Lot size: 35,920 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.

Immersive Experience

Open Houses

Property Details

Financials

Original Price$1,189,000
Annual Taxes$12,894

Parking

Garage2
Off-Street6

Interior Specifications

Total Rooms8
Fireplaces1
FlooringTile, Hardwood, Flooring - Hardwood, Flooring - Stone/Ceramic Tile
BasementFull, Bulkhead, Sump Pump, Concrete

Climate & Utilities

HeatingHot Water, Natural Gas
CoolingCentral Air
WaterPublic
SewerPrivate Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationBlock
ZoningRA

Property & Lot

Acres0.82
SqFt Lot35,920
Lot Features--

Amenities & Appliances

Gas Water Heater • Water Heater • Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer • Range Hood

Neighborhood

Shopping • Park • Walk/Jog Trails • Medical Facility • Conservation Area • Highway Access

Geography

Floorplan Breakdown

Structural Layout

Second
Bedroom 3Bathroom 3
First
Living RoomDining RoomKitchenOfficePrimary BedroomBedroom 2Bathroom 1Bathroom 2
Living Room
Lvl First

26 x 15

Flooring - Hardwood, Window(s) - Picture, Chair Rail, Wainscoting, Lighting - Sconce, Lighting - Overhead, Crown Molding

Dining Room
Lvl First

13 x 15

Flooring - Hardwood, Chair Rail, Wainscoting, Lighting - Pendant, Crown Molding

Kitchen
Lvl First

15 x 11

Flooring - Hardwood, Countertops - Stone/Granite/Solid, Kitchen Island, Recessed Lighting, Remodeled, Pot Filler Faucet, Gas Stove, Lighting - Pendant

Office
Lvl First

7 x 11

Flooring - Hardwood, Lighting - Overhead, Crown Molding

Primary Bedroom
Lvl First

14 x 15

Walk-In Closet(s), Flooring - Hardwood, Chair Rail, Lighting - Sconce, Lighting - Overhead, Crown Molding

Bedroom 2
Lvl First

12 x 14

Bedroom 3
Lvl Second

18 x 17

Flooring - Hardwood, Lighting - Overhead

Bathroom 1
Lvl First

10 x 9

Bathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Recessed Lighting, Lighting - Sconce

Bathroom 2
Lvl First

4 x 4

Bathroom - Half, Flooring - Hardwood

Bathroom 3
Lvl Second

8 x 7

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Lighting - Overhead

Listing Provided By

Listing Agent: Carolyn Walsh

Listing Office: Better Homes and Gardens Real Estate - The Shanahan Group

MLS® Number: 73573215