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38 Highland St Reading — Photo 1 of 42

38 Highland St Reading — Photo 1 of 42

$849,900

Investment Analysis — 38 Highland St

Reading, MA 01867

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01867 carries an estimated $3,470/mo in gross rent — about a 2.67% cap rate and $22,700/yr in estimated NOI at the $849,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

2

SqFt

2,378

Style

Single Family

Built

1900

They simply don’t make homes like this anymore. Set in one of Reading’s most loved Birch Meadow neighborhoods, just steps from downtown, this turn-of-the-century Colonial offers 10 rooms, 4 bedrooms, 2 full baths and the kind of craftsmanship, scale and character that is nearly impossible to replicate today. The moment you step inside, the striking foyer sets the tone. Warm, welcoming and rich with architectural detail, it gives you an immediate sense of what makes this home so special. It’s not simply a pass-through space; it’s a beautiful introduction to the craftsmanship and character that continue throughout the home, and one of those details that feels even more special in person. Throughout, you’ll find 9-foot + ceilings, hardwood floors, ornate millwork, stained-glass windows, original cast-iron radiators, beautiful built-ins and substantial pocket doors, all reminders of an era when homes were built with incredible attention to detail. The large bedrooms continue that sense of scale, while a walk-in pantry adds both function and another layer of old-home charm that is increasingly hard to find. A walk-up attic offers exciting possibilities for future expansion, while two separate driveways provide added flexibility and potential to explore an ADU, subject to town approvals through oversized detached garage. Thoughtful updates over the years include a newer roof, replacement windows, new appliances, updated electrical and a new oil tank. And then there’s the location. You’re just moments from the Birch Meadow school complex and YMCA, with fields, courts, playgrounds and recreation practically outside your door. Downtown Reading, local restaurants, shops, coffee, the commuter rail and everything that makes this community so special are all within easy reach. It’s a location that allows you to truly become part of the neighborhood and enjoy a lifestyle where so much of your day-to-day life is right around you. Owned by the same family for nearly six decades, this home has been the backdrop for generations of memories and is ready for someone new to make it their own. Rich in architectural detail and ready for its next chapter, this is a home you need to experience in person to fully appreciate.

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 2,378 sq ft principal dwelling). Lot size: 11,626 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.

Immersive Experience

Open Houses

Property Details

Financials

Original Price$849,900
Annual Taxes$8,946

Parking

Garage1
Off-Street11

Interior Specifications

Total Rooms10
FireplacesNone
FlooringCarpet, Hardwood, Flooring - Wall to Wall Carpet, Flooring - Hardwood
BasementFull, Bulkhead, Unfinished

Climate & Utilities

HeatingSteam, Oil
CoolingNone
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationStone
ZoningS15

Property & Lot

Acres0.27
SqFt Lot11,626
Lot Features--

Amenities & Appliances

Range • Dishwasher • Disposal

Neighborhood

Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Walk/Jog Trails

Geography

Floorplan Breakdown

Structural Layout

Second
Master BedroomBedroom 2Bedroom 3Bedroom 4Bathroom 2
First
Living RoomDining RoomKitchenFamily RoomBathroom 1
Living Room
Lvl First

14 x 13

Flooring - Hardwood, Open Floorplan

Dining Room
Lvl First

15 x 14

Closet/Cabinets - Custom Built, Flooring - Hardwood

Kitchen
Lvl First

17 x 13

Flooring - Vinyl, Pantry, Countertops - Stone/Granite/Solid, Stainless Steel Appliances

Family Room
Lvl First

17 x 15

Closet/Cabinets - Custom Built, Flooring - Hardwood, Open Floorplan, Pocket Door

Master Bedroom
Lvl Second

14 x 14

Closet, Flooring - Hardwood

Bedroom 2
Lvl Second

14 x 14

Bedroom 3
Lvl Second

11 x 11

Closet, Flooring - Hardwood

Bedroom 4
Lvl Second

17 x 8

Flooring - Hardwood

Bathroom 1
Lvl First

Bathroom - 3/4, Bathroom - With Shower Stall, Flooring - Vinyl, Dryer Hookup - Electric, Washer Hookup

Bathroom 2
Lvl Second

Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Vinyl

Listing Provided By

Listing Agent: Susan Gormady Group

Listing Office: Classified Realty Group

MLS® Number: 73574006