121 Elm St North Reading — Photo 1 of 34
$950,000
Investment Analysis — 121 Elm St
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 2.83% cap rate and $26,841/yr in estimated NOI at the $950,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2
SqFt
2,559
Style
Single Family
Built
1965
Completely gut-renovated and thoughtfully redesigned, this spacious, sun-filled home in the heart of highly desirable North Reading blends modern style with exceptional functionality. The inviting open-concept main level features dramatic vaulted ceilings with exposed beams, a beautiful central fireplace, and a stunning modern kitchen with a center island and marble countertops. A full contemporary bathroom and convenient first-floor bedroom offer flexibility for guests, family, or a home office. Upstairs, two additional bedrooms include a spacious primary suite with its own private full bathroom. The fully finished and heated basement provides valuable additional living space. Extensive updates include a complete interior renovation with all-new walls, spray foam insulation, upgraded plumbing and electrical, new windows, vinyl siding, a new deck, and more. The spacious backyard offers plenty of room to relax, entertain, and enjoy the outdoors. Conveniently located approximately 15 minutes from North Wilmington Commuter Rail and close to Route 28 shopping, dining, and everyday amenities.
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 2,559 sq ft principal dwelling). Lot size: 18,731 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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Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Water Heater • Range • Dishwasher • Microwave • Refrigerator • Wine Refrigerator • Range Hood
Neighborhood
Shopping • Park • Walk/Jog Trails • Golf • Laundromat • Conservation Area
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First18.833333333 x 18.75
Beamed Ceilings, Flooring - Hardwood, Window(s) - Picture, Open Floorplan, Recessed Lighting, Remodeled
Dining Room
Lvl First22.833333333 x 14.5
Beamed Ceilings, Flooring - Hardwood, Open Floorplan, Remodeled, Lighting - Pendant
Kitchen
Lvl Main,First18.583333333 x 11.333333333
Closet, Flooring - Hardwood, Countertops - Stone/Granite/Solid, Cabinets - Upgraded, Deck - Exterior, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled, Stainless Steel Appliances, Wine Chiller
Family Room
Lvl Basement39.083333333 x 23.25
Flooring - Vinyl, Open Floorplan, Recessed Lighting, Remodeled
Master Bedroom
Lvl Second14.333333333 x 12.583333333
Vaulted Ceiling(s), Walk-In Closet(s), Flooring - Hardwood, Window(s) - Picture, Recessed Lighting, Remodeled
Bedroom 2
Lvl Second11.583333333 x 12.583333333
Bedroom 3
Lvl Main,First11.583333333 x 12.666666666
Walk-In Closet(s), Flooring - Hardwood, Cable Hookup, Remodeled
Bathroom 1
Lvl Main,First8.833333333 x 4.75
Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Recessed Lighting, Remodeled
Bathroom 2
Lvl Second8.166666666 x 5.75
Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Recessed Lighting, Remodeled
Listing Agent: Lidiya Dimova
Listing Office: Lamacchia Realty, Inc.
MLS® Number: 73575242
