115 School Manchester — Photo 1 of 33
$1,050,000
Investment Analysis — 115 School
Manchester, MA 01944
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 7-bedroom in 01944 carries an estimated $3,520/mo in gross rent — about a 1.86% cap rate and $19,502/yr in estimated NOI at the $1,050,000 list price. Adjust every assumption in the calculator below.
Beds
7
Baths
5
SqFt
5,627
Style
Single Family
Built
1914
Unique opportunity in Manchester-by-the-sea! Great in town location that has the flexibility to become your dream house. Renovate the stately main house and the legal lower level 1 bedroom apartment or start over and build exactly what you want: a 2 family or a spacious single family. Easy access to Essex County Club and a short walk to the elementary and high schools. Buyer to perform their own due diligence. Utilities, town water and sewer are at the site. Bring a contractor and builder to explore your options. Showings are by appointment only or at the Open House Saturday, Sept 12th & Sunday, September 13th 12:00-1:30pm.
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 5,627 sq ft principal dwelling). Lot size: 23,380 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 MLS and other third-party data may be inaccurate or out of date.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.
Open Houses
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Neighborhood
Public Transportation • Shopping • Highway Access • Public School • Sidewalks
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstDining Room
Lvl FirstKitchen
Lvl FirstFamily Room
Lvl FirstMaster Bedroom
Lvl SecondBedroom 2
Lvl SecondBedroom 3
Lvl SecondBedroom 4
Lvl ThirdBedroom 5
Lvl ThirdBathroom 1
Lvl SecondBathroom 2
Lvl ThirdProperty History
$1,050,000
Sep 8, 2026
MLS® 73573259
$1,050,000
Sep 8, 2026
MLS® 73573263
Listing Agent: Fabyan And Filias Team
Listing Office: J. Barrett & Company
MLS® Number: 73573259