64 1/2 Wallace Avenue Auburn — Photo 1 of 18
$225,000
Investment Analysis — 64 1/2 Wallace Avenue
Auburn, MA 01501 — Stoneville
Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a 3-bedroom in 01501 carries an estimated $2,230/mo in gross rent — about a 7.07% cap rate and $15,905/yr in estimated NOI at the $225,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1
SqFt
1,002
Style
Single Family
Built
1920
Opportunity awaits at 64 1/2 Wallace Ave in Auburn! This 3-bedroom, 1-bath home offers plenty of potential for investors, contractors, flippers, or handy homeowners ready to bring their vision to life. Situated on a spacious lot with a large, private backyard, the property also features a detached two-car garage offering excellent storage, workshop space, or potential for an ADU conversion, subject to buyer due diligence and all required approvals.The home is ready for renovation, making it a great candidate for buyers looking to build equity through improvements. Renovation financing options such as FHA 203(k) or other rehab loan programs may be worth exploring.The property is currently serviced by septic, which has not been tested. Seller has received a preliminary estimate of approximately $10,000–$15,000 to connect the property to municipal sewer; buyers and buyer agents should independently verify availability, costs, permitting, and requirements with the appropriate authorities.Tucked away in a private neighborhood setting while still convenient to Auburn amenities, this property offers a great opportunity to renovate, reimagine, and make it your own. Bring your ideas and unlock the potential!
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: 501 sq ft (the lesser of 900 sq ft or half the 1,002 sq ft principal dwelling). Lot size: 16,117 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
Water Heater • Range • Refrigerator
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstKitchen
Lvl FirstMaster Bedroom
Lvl FirstBedroom 2
Lvl SecondBedroom 3
Lvl SecondBathroom 1
Lvl FirstListing Agent: Ymanol Arriola
Listing Office: Keller Williams Realty North Central
MLS® Number: 73574574