
76 Summer Ave Reading — Photo 1 of 20
$895,000
Investment Analysis — 76 Summer Ave
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 2.50% cap rate and $22,386/yr in estimated NOI at the $895,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
1.5
SqFt
1,650
Style
Single Family
Built
1957
Rare opportunity to own a unique wooded property abutting protected forest and conservation land in one of Reading’s most desirable neighborhoods. Renovate and expand the existing farmhouse—featuring bricks reclaimed from Reading’s historic roundhouse train station—or build your dream home in an exceptional natural setting. An original silo remains on the property, adding charm, historic character, and potential for creative repurposing. Ideally located within walking distance to Barrows Elementary, Parker Middle School, Austin Preparatory School, downtown Reading, and the Haverhill-to-Boston commuter rail, with Reading Memorial High School just minutes away. Conveniently situated 12 miles from Boston, 17 miles from the New Hampshire border, and approximately 6 minutes from both I-93 and I-95. The property is serviced by an on-site septic system, with a Title 5 inspection to be provided by the seller prior to closing. Town sewer and natural gas are available at the street, offering additional flexibility for future development, including potential accessory dwelling unit (ADU) possibilities, subject to buyer due diligence and town approvals. The property is sold as is.
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: 825 sq ft (the lesser of 900 sq ft or half the 1,650 sq ft principal dwelling). Lot size: 37,330 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
Neighborhood
Public Transportation • Shopping • Golf • Conservation Area • Highway Access • House of Worship
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First13 x 17
Dining Room
Lvl First11 x 12
Kitchen
Lvl First12 x 12
Master Bedroom
Lvl Second12 x 11
Closet
Bedroom 2
Lvl Second11 x 10
Bedroom 3
Lvl Second11 x 10
Closet
Bedroom 4
Lvl Second11 x 10
Closet
Listing Agent: Jason Saphire
Listing Office: www.HomeZu.com
MLS® Number: 73563169