240 Central St North Reading — Photo 1 of 40
$850,000
Investment Analysis — 240 Central 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 2.94% cap rate and $24,977/yr in estimated NOI at the $850,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1.5
SqFt
2,458
Style
Single Family
Built
1976
Opportunity for sweat equity on a nearly one-acre wooded lot in North Reading. Three-car attached garage, first floor front porch and second floor back deck, fireplace, and hardwood floors — the bones are here. Updated kitchen with granite. Private setting with easy highway access, conservation trails, and all the amenities North Reading has to offer. Bring your vision and build instant equity. North Reading sits at the edge of conservation land with quick access to Route 28 and 93 — commuter-friendly without the density. Walk/jog trails, golf, tennis, top-rated public schools, and a tight-knit town center within miles.
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 2,458 sq ft principal dwelling). Lot size: 40,075 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 MLS and other third-party data may be inaccurate or out of date.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
Amenities & Appliances
Water Heater • Range • Dishwasher • Refrigerator • Washer • Dryer
Neighborhood
Shopping • Tennis Court(s) • Walk/Jog Trails • Golf • Medical Facility • Conservation Area
Geography
Listing Agent: Marc Green
Listing Office: Coldwell Banker Realty - Marblehead
MLS® Number: 73572557