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438 Waltham St Lexington — Photo 1 of 42

438 Waltham St Lexington — Photo 1 of 42

$1,379,000

Investment Analysis — 438 Waltham St

Lexington, MA 02421

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02421 carries an estimated $5,560/mo in gross rent — about a 2.61% cap rate and $35,923/yr in estimated NOI at the $1,379,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

3.5

SqFt

3,157

Style

Single Family

Built

1953

A thoughtfully updated and expanded Colonial you will love coming home to, 438 Waltham Street offers an impressive combination of modern style, generous living spaces, and everyday convenience. A circular driveway provides easy access in and out, while the home’s convenient location puts Clarke Middle School, tennis and pickleball courts, conservation land, shopping, dining, the town center, and everyday amenities all within easy reach. The welcoming foyer opens gradually into the sun-filled living room, where hardwood floors, a large picture window, and wood-burning fireplace create a warm and inviting atmosphere, perfect for entertaining or simply relaxing at home. Entertain in style in the formal dining room, featuring hardwood floors, a built-in corner cabinet, and plenty of space to accommodate friends and family. Everyone will love gathering in the stunning, open-concept kitchen featuring granite countertops, a breakfast bar island, pendant and recessed lighting, and a ceramic tile floor. The adjoining informal dining area sets the stage for easy everyday meals. A glass slider opens to the deck and backyard beyond, perfect for soaking up a little sunshine or enjoying the spacious, level yard. The spacious family room, set behind French doors, offers the perfect blend of comfort and practicality. Flowing easily from the kitchen and filled with natural light, this inviting space features recessed lighting and hardwood flooring, creating a comfortable setting for movie nights, gatherings, or simply unwinding at the end of the day. A half bathroom completes the main level. Comfort and style continue on the second level with the primary suite, three additional bedrooms, and a full family bathroom off the main hall. The oversized primary bedroom offers a walk-in closet for plenty of storage and organization. The primary bathroom is updated with a tiled shower, Jacuzzi tub, and a dual sink vanity. The cheerful family bedrooms are filled with natural light and feature hardwood floors and ample closet space, all with easy access to the family bathroom with a tiled tub and shower and a dual sink vanity. Retreat to the third level to discover two spacious and versatile rooms, both featuring hardwood floors and skylights, and full bathroom. Whether you envision a secondary family room, exercise area, private office, hobby space, or a combination of uses, this flexible level is ready to adapt to your needs. Move right in!

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 3,157 sq ft principal dwelling). Lot size: 6,109 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$1,379,000
Annual Taxes$14,784

Parking

Garage0
Off-Street3

Interior Specifications

Total Rooms10
Fireplaces1
FlooringTile, Hardwood, Flooring - Hardwood, Flooring - Stone/Ceramic Tile
BasementInterior Entry, Bulkhead, Concrete, Unfinished

Climate & Utilities

HeatingBaseboard, Oil
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningRS

Property & Lot

Acres0.14
SqFt Lot6,109
Lot FeaturesLevel

Amenities & Appliances

Water Heater • Range • Dishwasher • Disposal • Refrigerator • Washer • Dryer

Neighborhood

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

Geography

Floorplan Breakdown

Structural Layout

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

19 x 11

Flooring - Hardwood, Window(s) - Picture

Dining Room
Lvl First

15 x 11

Flooring - Hardwood, Lighting - Overhead

Kitchen
Lvl First

21 x 15

Flooring - Stone/Ceramic Tile, Dining Area, Pantry, Countertops - Stone/Granite/Solid, French Doors, Kitchen Island, Breakfast Bar / Nook, Deck - Exterior, Exterior Access, Open Floorplan, Recessed Lighting, Slider, Lighting - Pendant

Office
Lvl Third

17 x 13

Skylight, Ceiling Fan(s), Ceiling - Vaulted, Flooring - Hardwood, Lighting - Overhead

Family Room
Lvl First

25 x 14

Flooring - Hardwood, French Doors, Recessed Lighting

Master Bedroom
Lvl Second

22 x 18

Bathroom - Full, Bathroom - Double Vanity/Sink, Ceiling Fan(s), Walk-In Closet(s), Flooring - Hardwood

Bedroom 2
Lvl Second

15 x 11

Bedroom 3
Lvl Second

13 x 11

Flooring - Hardwood, Lighting - Overhead, Closet - Double

Bedroom 4
Lvl Second

13 x 11

Flooring - Hardwood, Lighting - Overhead, Closet - Double

Bathroom 1
Lvl Second

Bathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Jacuzzi / Whirlpool Soaking Tub

Bathroom 2
Lvl Second

Bathroom - Double Vanity/Sink, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid

Bathroom 3
Lvl Third

Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Pedestal Sink

Listing Provided By

Listing Agent: Danielle Fleming

Listing Office: MA Properties

MLS® Number: 73575429