6 Reservoir Park Needham — Photo 1 of 17
$729,900
Investment Analysis — 6 Reservoir Park
Needham, MA 02494
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02494 carries an estimated $3,640/mo in gross rent — about a 3.48% cap rate and $25,378/yr in estimated NOI at the $729,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1.5
SqFt
1,220
Style
Single Family
Built
1945
Great location, corner lot on Reservoir Park with only three homes on the street. Endless possibilities, perfectly suited for a builder to bring their vision! This is an exceptional opportunity in Needham Heights, just moments from the Newton line, near Eliot School and just minutes from shops, restaurants, and commuter rail station. It also offers quick access to the scenic trails of Hemlock Gorge Reservation, perfect for weekend strolls. This is an outstanding commuter location with excellent access to major routes, making it easy to reach Boston and surrounding areas. Don’t miss your chance to bring your vision to life and create a beautiful home in this Needham location. Property is being sold as-is and is need of repairs, likely a tear down or gut remodel. Buyers & their agents are encouraged to conduct their own due diligence. Showings begin 9/10, Thursday 4-5:30pm.
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: 610 sq ft (the lesser of 900 sq ft or half the 1,220 sq ft principal dwelling). Lot size: 8,479 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
Geography
Listing Agent: Adina Colangelo
Listing Office: Keller Williams Realty Boston South West
MLS® Number: 73573564