16 Central St Wakefield — Photo 1 of 37
Recent Drop: $20,000
$739,900
Investment Analysis — 16 Central St
Wakefield, MA 01880
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01880 carries an estimated $3,110/mo in gross rent — about a 2.68% cap rate and $19,817/yr in estimated NOI at the $739,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
1.5
SqFt
1,465
Style
Single Family
Built
1967
It's rare you can get both a superior location and a gorgeous lot like this ranch has, just steps from Lake Quannapowitt in Wakefield! This wonderful home has been in the same family for over 50 years and is now ready for new owners. Offering unlimited potential for a contractor to renovate and flip, or the buyers who want to live in a great neighborhood and will move in and put their own finishing touches on it. This home needs some work but you can build equity at this location. 7 Rooms, 3 bedrooms, 2 baths, and a den or office all on a single level.. Hardwood floors, fireplaced livingroom, granite counters in kitchen. Gas cooking and heat. Main bedroom addition off rear with it's own en suite bath. Rear enclosed sunporch. Updated roof and newer high end Lochinvar tankless heating and HW system. All of this situated on a 17,000 sq ft lot. Just a short walk to Lake, the Common, downtown, bus line, and commuter rail to Boston. Convenient to major highways and MarketStreet Lynnfield. Open House Saturday Sept. 12th 11:30-1:00
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: 733 sq ft (the lesser of 900 sq ft or half the 1,465 sq ft principal dwelling). Lot size: 17,001 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.
Open Houses
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Tankless Water Heater • Range • Oven • Dishwasher • Disposal • Refrigerator • Freezer • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Golf • Bike Path
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First14 x 14
Flooring - Hardwood
Dining Room
Lvl First12 x 10
Flooring - Hardwood
Kitchen
Lvl First16 x 10
Flooring - Laminate, Countertops - Stone/Granite/Solid, Stainless Steel Appliances, Gas Stove, Lighting - Pendant
Office
Lvl First14 x 10
Flooring - Hardwood
Master Bedroom
Lvl First16 x 15
Bathroom - Half, Flooring - Hardwood
Bedroom 2
Lvl First15 x 12
Bedroom 3
Lvl First13 x 10
Flooring - Hardwood
Bathroom 1
Lvl FirstBathroom - Full, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl FirstBathroom - Half, Flooring - Stone/Ceramic Tile
Property History
$739,900
Was $759,900
Sep 10, 2026
MLS® 73572008
$759,900
Sep 4, 2026
MLS® 73572008
Listing Agent: Stephen Conroy
Listing Office: Boardwalk Real Estate
MLS® Number: 73572008
