114 Chestnut Street North Reading — Photo 1 of 40
$1,189,000
Investment Analysis — 114 Chestnut Street
North Reading, MA 01864
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01864 carries an estimated $3,800/mo in gross rent — about a 1.83% cap rate and $21,762/yr in estimated NOI at the $1,189,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2.5
SqFt
2,864
Style
Single Family
Built
1948
Refined architecture, exceptional craftsmanship & picturesque grounds define this distinctive Cape designed by renowned architect George H. Sidebottom & masterfully built with I-beam construction. Carefully maintained & tastefully updated, this home showcases peg & groove hardwood floors, rich millwork, and custom built-ins throughout. The sprawling main level features a stunning kitchen with custom cabinetry, Quartzite counters & island, Sub-Zero refrigerator, gas range & brass pot filler. An elegant dining room with striking china cabinets opens to an expansive living room with impressive fireplace, and a delightful screened porch overlooking the serene backyard. Beyond the living room there are 2 bedrooms, a beautifully appointed full bath with imported tile, double vanity & walk-in shower, and abundant closets. This level also features an office, mudroom with laundry, and half bath. Upstairs you will find an inviting bedroom, full bath, walk-in cedar closet & generous storage. Enjoy central air, attached 2-car garage & nearly an acre of bucolic grounds with mature specimen trees, stone walls & a Lord & Burnham greenhouse. Conveniently located near I-93/95, Ipswich River Park, Ryer’s, MarketStreet shops & more. Expansion potential & a remarkable level of detail make this a truly special offering.
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 2,864 sq ft principal dwelling). Lot size: 35,920 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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Financials
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Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Water Heater • Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer • Range Hood
Neighborhood
Shopping • Park • Walk/Jog Trails • Medical Facility • Conservation Area • Highway Access
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First26 x 15
Flooring - Hardwood, Window(s) - Picture, Chair Rail, Wainscoting, Lighting - Sconce, Lighting - Overhead, Crown Molding
Dining Room
Lvl First13 x 15
Flooring - Hardwood, Chair Rail, Wainscoting, Lighting - Pendant, Crown Molding
Kitchen
Lvl First15 x 11
Flooring - Hardwood, Countertops - Stone/Granite/Solid, Kitchen Island, Recessed Lighting, Remodeled, Pot Filler Faucet, Gas Stove, Lighting - Pendant
Office
Lvl First7 x 11
Flooring - Hardwood, Lighting - Overhead, Crown Molding
Primary Bedroom
Lvl First14 x 15
Walk-In Closet(s), Flooring - Hardwood, Chair Rail, Lighting - Sconce, Lighting - Overhead, Crown Molding
Bedroom 2
Lvl First12 x 14
Bedroom 3
Lvl Second18 x 17
Flooring - Hardwood, Lighting - Overhead
Bathroom 1
Lvl First10 x 9
Bathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Recessed Lighting, Lighting - Sconce
Bathroom 2
Lvl First4 x 4
Bathroom - Half, Flooring - Hardwood
Bathroom 3
Lvl Second8 x 7
Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Lighting - Overhead
Listing Agent: Carolyn Walsh
Listing Office: Better Homes and Gardens Real Estate - The Shanahan Group
MLS® Number: 73573215
