
131 Prospect St Wakefield — Photo 1 of 42
$1,395,000
Investment Analysis — 131 Prospect St
Wakefield, MA 01880 — Prospect Hill
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01880 carries an estimated $3,430/mo in gross rent — about a 1.38% cap rate and $19,254/yr in estimated NOI at the $1,395,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
3
SqFt
3,269
Style
Single Family
Built
1935
If there ever was a home that could check all your boxes, this is it!! Located in one of the most prestigious areas of Wakefield, with access to everything, either by walking or driving, this home has the gift of living large. Four super large bedrooms, with the Primary having two walk-in closets and gorgeous full bath. All bedrooms have large closets with access to a large bathroom; all located on the second floor. The upstairs foyer connects all the bedrooms and also brings you to a separate office and walk-up attic, where storage found its true definition. Upon entrance, you are greeted by a warm and inviting living room with fireplace and a screened in porch to catch up on current events or just read a great book while embracing the cool nighttime breeze. Super large dining room to entertain all your family and friends, with a view of the beautiful, landscaped backyard. The kitchen right beside the dining room makes it that much easier for you to entertain, also offering an enormous amount of space with kitchen nook and island. And of course, a home like this would not be without a fabulous double level deck, carrying your entertaining to the gorgeous outdoors, or even to the lower patios for a night of making smores and memories. Open the downstairs door and it unlocks another large living room with fireplace and a playroom/exercise room. The laundry room, wine cellar, workbench and more additional storage is located on this level as well. Taking the stairs up brings you to the hallway which offers another beautiful full bath. There is access to the two-car garage off the kitchen, and also another access to the downstairs through the garage. Sounds incredible, well it is. Make an appointment today and experience a home that can offer you all you ever wanted and then some.
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 3,269 sq ft principal dwelling). Lot size: 26,288 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.
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Amenities & Appliances
Gas Water Heater • Water Heater • Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Bike Path
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First11.25 x 21.5
Flooring - Hardwood
Dining Room
Lvl Main,First15.333333333 x 13.25
Flooring - Hardwood, Chair Rail
Kitchen
Lvl Main,First28.916666666 x 121.333333333
Closet/Cabinets - Custom Built, Flooring - Hardwood, Balcony / Deck, Pantry, Countertops - Stone/Granite/Solid, Breakfast Bar / Nook, Deck - Exterior, Recessed Lighting, Lighting - Pendant
Office
Lvl Second7.333333333 x 11.666666666
Flooring - Hardwood, Lighting - Overhead
Family Room
Lvl Basement17.916666666 x 18.666666666
Flooring - Vinyl, Exterior Access, Recessed Lighting, Lighting - Overhead
Primary Bedroom
Lvl Second21 x 23
Bathroom - Full, Walk-In Closet(s), Closet, Flooring - Hardwood
Bedroom 2
Lvl Second14.166666666 x 13.25
Bedroom 3
Lvl Second14.5 x 13.25
Closet, Flooring - Hardwood, Lighting - Overhead
Bedroom 4
Lvl Second11.583333333 x 17.166666666
Closet, Flooring - Hardwood, Lighting - Overhead
Bathroom 1
Lvl First5.583333333 x 11.75
Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Bathroom 2
Lvl Second10.75 x 4.75
Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Bathroom 3
Lvl Second9.333333333 x 4.75
Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Lighting - Overhead
Listing Agent: Carolyn Goodman
Listing Office: RE/MAX Encore
MLS® Number: 73543056