
580 Highland Avenue Needham — Photo 1 of 24
$999,000
Investment Analysis — 580 Highland Avenue
Needham, MA 02494 — Needham Heights
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02494 carries an estimated $4,030/mo in gross rent — about a 2.86% cap rate and $28,621/yr in estimated NOI at the $999,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
2.5
SqFt
2,376
Style
Single Family
Built
1915
Exceptional Value in Needham! Set on a beautiful 10,000+ square foot lot, this impressive 1915 Colonial offers a rare opportunity to own a home with exceptional character, scale, and phenomenal bones in one of Needham’s most sought-after communities. The home’s classic architecture is highlighted by high ceilings, detailed millwork, hardwood floors throughout, and a gracious floor plan that begins with a welcoming foyer. The fireplace'd living room opens seamlessly to an elegant dining room with built-ins, creating an ideal setting for both comfortable living and entertaining. The kitchen offers excellent natural light, a generous pantry, powder room, and convenient mudroom. Upstairs, four generously sized bedrooms are complemented by a full bath and a walk-up third floor offering exciting potential for additional living space, office, studio, or storage. The finished walk-out lower level adds even more flexibility and includes a bath. Outside, the beautifully landscaped grounds create a private space, highlighted by a bluestone patio perfect for relaxing or entertaining. Offering exceptional character, a generous lot, and tremendous potential at an attractive price point, this is an opportunity not to be missed.
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 2,376 sq ft principal dwelling). Lot size: 10,062 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.
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Amenities & Appliances
Gas Water Heater • Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Walk/Jog Trails
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl BasementDining Room
Lvl FirstKitchen
Lvl FirstFamily Room
Lvl FirstMaster Bedroom
Lvl SecondBedroom 2
Lvl SecondBedroom 3
Lvl SecondBedroom 4
Lvl SecondBathroom 1
Lvl FirstBathroom 2
Lvl SecondBathroom 3
Lvl BasementListing Agent: Connor Gillen
Listing Office: Keller Williams Realty
MLS® Number: 73574504