
2 Hemenway Ave Melrose — Photo 1 of 42
$1,700,000
Investment Analysis — 2 Hemenway Ave
Melrose, MA 02176 — Mount Hood
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02176 carries an estimated $3,730/mo in gross rent — about a 1.22% cap rate and $20,800/yr in estimated NOI at the $1,700,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
2.5
SqFt
3,000
Style
Single Family
Built
1912
Completely reimagined from top to bottom, 2 Hemenway Avenue offers nearly 3,000 square feet of beautifully finished living space in Melrose’s desirable Mount Hood neighborhood. Gut-renovated in 2023, this 4-bedroom, 2.5-bath home pairs sophisticated design and exceptional craftsmanship with thoughtful functionality for everyday living and entertaining. At the heart of the home is a showpiece kitchen featuring a full Thermador appliance package, custom cabinetry, stone countertops, an oversized sink, and a dedicated breakfast nook. An adjoining dining room provides space for larger gatherings, while the kitchen flows naturally into an inviting living room anchored by a newly constructed wood-burning fireplace. A separate bar room creates another distinctive space for entertaining. The primary suite is a private retreat with two walk-in closets, including a custom dressing closet with built-in makeup vanity. Three additional bedrooms offer flexibility for family, guests, or a home office, while a dedicated home gym adds everyday convenience. The quality extends beyond the finishes with Andersen 400 Series windows, custom window treatments, new plumbing and electrical, Bosch HVAC systems, Navien tankless hot water, and built-in indoor/outdoor speakers. Outside, mature landscaping and a generous yard surround a TimberTech AZEK deck in English Walnut with AZEK railings, creating an inviting setting for outdoor dining and entertaining. The home also features 50-year Hardie Board siding, a 30-year architectural shingle roof, new driveway, and 9-zone irrigation. The oversized garage features 2023 epoxy flooring, a 60-amp Tesla EV charger, and ample room for cars, gear, and storage. Approximately two miles from Oak Grove Orange Line and Wyoming Hill commuter rail stations, this turnkey Mount Hood home offers an exceptional combination of craftsmanship, space, privacy, and convenient access to Boston.
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 3,000 sq ft principal dwelling).
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
Amenities & Appliances
Tankless Water Heater • Dishwasher • Disposal • Microwave • Refrigerator • Freezer • Washer • Dryer • Water Treatment • Wine Refrigerator • Range Hood • Plumbed For Ice Maker
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • T-Station
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First14.583333333 x 18.25
Flooring - Hardwood, Wet Bar, Open Floorplan, Remodeled
Dining Room
Lvl First14.583333333 x 11.083333333
Flooring - Hardwood, Window(s) - Bay/Bow/Box, Wet Bar
Kitchen
Lvl Main,First11.833333333 x 17.333333333
Flooring - Hardwood, Window(s) - Picture, Dining Area, Countertops - Upgraded, Kitchen Island, Cabinets - Upgraded, Open Floorplan, Recessed Lighting, Stainless Steel Appliances
Primary Bedroom
Lvl Second16 x 17.583333333
Bathroom - Full, Bathroom - Double Vanity/Sink, Walk-In Closet(s), Closet/Cabinets - Custom Built, Flooring - Hardwood, Window(s) - Picture, Recessed Lighting, Remodeled
Bedroom 2
Lvl Second14.083333333 x 11.916666666
Bedroom 3
Lvl Second10.166666666 x 13.666666666
Closet/Cabinets - Custom Built, Flooring - Hardwood, Recessed Lighting
Bedroom 4
Lvl Second12.166666666 x 8.916666666
Cedar Closet(s), Flooring - Hardwood, Recessed Lighting
Bathroom 1
Lvl First5.25 x 4.666666666
Bathroom - Half
Bathroom 2
Lvl Second14.916666666 x 7.5
Bathroom - Full, Enclosed Shower - Fiberglass, Double Vanity, Dressing Room, Recessed Lighting, Remodeled
Bathroom 3
Lvl Second5.416666666 x 9.833333333
Bathroom - Full, Bathroom - With Tub, Remodeled
Listing Agent: Mission Realty Advisors
Listing Office: Compass
MLS® Number: 73573367