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121 Elm St North Reading — Photo 1 of 34

121 Elm St North Reading — Photo 1 of 34

$950,000

Investment Analysis — 121 Elm St

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 2.83% cap rate and $26,841/yr in estimated NOI at the $950,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2

SqFt

2,559

Style

Single Family

Built

1965

Completely gut-renovated and thoughtfully redesigned, this spacious, sun-filled home in the heart of highly desirable North Reading blends modern style with exceptional functionality. The inviting open-concept main level features dramatic vaulted ceilings with exposed beams, a beautiful central fireplace, and a stunning modern kitchen with a center island and marble countertops. A full contemporary bathroom and convenient first-floor bedroom offer flexibility for guests, family, or a home office. Upstairs, two additional bedrooms include a spacious primary suite with its own private full bathroom. The fully finished and heated basement provides valuable additional living space. Extensive updates include a complete interior renovation with all-new walls, spray foam insulation, upgraded plumbing and electrical, new windows, vinyl siding, a new deck, and more. The spacious backyard offers plenty of room to relax, entertain, and enjoy the outdoors. Conveniently located approximately 15 minutes from North Wilmington Commuter Rail and close to Route 28 shopping, dining, and everyday amenities.

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 2,559 sq ft principal dwelling). Lot size: 18,731 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

Original Price$950,000
Annual Taxes$7,815

Parking

Garage0
Off-Street4

Interior Specifications

Total Rooms8
Fireplaces1
FlooringTile, Hardwood
BasementFull, Finished, Interior Entry, Bulkhead

Climate & Utilities

HeatingBaseboard, Oil
CoolingDuctless
WaterPublic
SewerPrivate Sewer

Building & Exterior

ConstructionConventional (2x4-2x6)
RoofShingle
FoundationConcrete Perimeter
ZoningRA

Property & Lot

Acres0.43
SqFt Lot18,731
Lot FeaturesLevel

Amenities & Appliances

Water Heater • Range • Dishwasher • Microwave • Refrigerator • Wine Refrigerator • Range Hood

Neighborhood

Shopping • Park • Walk/Jog Trails • Golf • Laundromat • Conservation Area

Geography

Floorplan Breakdown

Structural Layout

Second
Master BedroomBedroom 2Bathroom 2
First
Living RoomDining Room
Basement
Family Room
Main,First
KitchenBedroom 3Bathroom 1
Living Room
Lvl First

18.833333333 x 18.75

Beamed Ceilings, Flooring - Hardwood, Window(s) - Picture, Open Floorplan, Recessed Lighting, Remodeled

Dining Room
Lvl First

22.833333333 x 14.5

Beamed Ceilings, Flooring - Hardwood, Open Floorplan, Remodeled, Lighting - Pendant

Kitchen
Lvl Main,First

18.583333333 x 11.333333333

Closet, Flooring - Hardwood, Countertops - Stone/Granite/Solid, Cabinets - Upgraded, Deck - Exterior, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled, Stainless Steel Appliances, Wine Chiller

Family Room
Lvl Basement

39.083333333 x 23.25

Flooring - Vinyl, Open Floorplan, Recessed Lighting, Remodeled

Master Bedroom
Lvl Second

14.333333333 x 12.583333333

Vaulted Ceiling(s), Walk-In Closet(s), Flooring - Hardwood, Window(s) - Picture, Recessed Lighting, Remodeled

Bedroom 2
Lvl Second

11.583333333 x 12.583333333

Bedroom 3
Lvl Main,First

11.583333333 x 12.666666666

Walk-In Closet(s), Flooring - Hardwood, Cable Hookup, Remodeled

Bathroom 1
Lvl Main,First

8.833333333 x 4.75

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Recessed Lighting, Remodeled

Bathroom 2
Lvl Second

8.166666666 x 5.75

Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Recessed Lighting, Remodeled

Listing Provided By

Listing Agent: Lidiya Dimova

Listing Office: Lamacchia Realty, Inc.

MLS® Number: 73575242