
355 South Street Reading — Photo 1 of 15
$849,900
Investment Analysis — 355 South Street
Reading, MA 01867
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01867 carries an estimated $3,140/mo in gross rent — about a 2.38% cap rate and $20,199/yr in estimated NOI at the $849,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2.5
SqFt
1,620
Style
Single Family
Built
1948
More than move in ready, this Cape has been thoughtfully updated with numerous improvements throughout. Like many Cape-style homes, it offers a flexible floor plan with spaces that can adapt to your needs. Where to begin? Let's start with the new kitchen, featuring shaker-style cabinets, quartz countertops, stainless steel appliances, hardwood flooring, complemented by stylish black faucet, lights and cabinet pulls. The first floor bathroom is also new with a tiled tub surround and tile flooring, also featuring black faucets, mirror, and lighting. The first floor also includes a versatile room that can be used as either a dining room or bedroom, depending on your needs. Upstairs, you will find two bedrooms and a half bathroom. the lower level adds even more flexibility with a multi-purpose room that could serve as an office, playroom or exercise area, along with an updated 3/4 bathroom. New heat/air conditioning mini split systems. Outside, the improvements continue with a new roof and new patio overlooking the spacious yard. The work is complete-just move in, unpack, and enjoy!
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: 810 sq ft (the lesser of 900 sq ft or half the 1,620 sq ft principal dwelling). Lot size: 10,001 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.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Tankless Water Heater • Range • Dishwasher • Disposal • Microwave
Neighborhood
Public Transportation • Shopping • Highway Access
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First15 x 15
Flooring - Hardwood, Cable Hookup, Recessed Lighting
Kitchen
Lvl First14 x 11.5
Flooring - Hardwood, Countertops - Stone/Granite/Solid, Cabinets - Upgraded, Recessed Lighting, Remodeled
Master Bedroom
Lvl First11 x 11
Cedar Closet(s), Flooring - Hardwood
Bedroom 2
Lvl Second10 x 13
Bedroom 3
Lvl Second13.5 x 13
Closet, Flooring - Hardwood
Bathroom 1
Lvl FirstBathroom - Full, Bathroom - Tiled With Tub, Flooring - Stone/Ceramic Tile, Recessed Lighting
Bathroom 2
Lvl SecondBathroom - Half, Flooring - Stone/Ceramic Tile
Bathroom 3
Lvl BasementBathroom - 3/4, Bathroom - Tiled With Shower Stall
Property History
$849,900
Aug 20, 2026
MLS® 73566522
$575,000
Apr 3, 2026
MLS® 73493006
$625,000
Mar 27, 2026
MLS® 73493006
Listing Agent: Kevin Coughlin
Listing Office: Berkshire Hathaway HomeServices Commonwealth Real Estate
MLS® Number: 73566522