116 Hill Street Topsfield — Photo 1 of 26
$1,100,000
Investment Analysis — 116 Hill Street
Topsfield, MA 01983
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 01983 carries an estimated $2,560/mo in gross rent — about a 1.20% cap rate and $13,226/yr in estimated NOI at the $1,100,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
1
SqFt
860
Style
Single Family
Built
1915
This charming Arts & Crafts cottage on 13+ acres was built in 1911 by J.D.Phillips (Salem merchant family) as chronicled in C.L.Bond's "The Houses of Topsfield". Extra-tall ceilings elevate the sense of space of the 8-room residence blending period details with an airy layout. At the heart of the cottage is an eat-in kitchen featuring large original built-in cabinets, rich butcher block countertops, and a classic farmer's sink. With 2 comfortable bedrooms, 1 full bath, and flexible living space, this home offers endless potential for a quiet country homestead with possible development opportunities. Abuts the Greenbelt's Donibristle Reservation (44-acre of wooded trails) with nearby amenities such as Masconomet Regional Schools, the Topsfield Fair, the Linear Common Rail Trail, Zumi’s Espresso, the Bagel Bin, the Essex Co-Op and newly opened Alfalfa Farm Cellars - craft brews & wines. A rare property of this scale, history, and character in Topsfield is a once-in-a-lifetime find!
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: 430 sq ft (the lesser of 900 sq ft or half the 860 sq ft principal dwelling). Lot size: 596,772 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 • Dishwasher • Microwave • Refrigerator • Washer • Dryer • ENERGY STAR Qualified Refrigerator • ENERGY STAR Qualified Dryer • ENERGY STAR Qualified Dishwasher • ENERGY STAR Qualified Washer
Geography
Listing Agent: Jonathan Minerick
Listing Office: homecoin.com
MLS® Number: 73552629
