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2 Hemenway Ave Melrose — Photo 1 of 42

2 Hemenway Ave Melrose — Photo 1 of 42

$1,700,000

Investment Analysis — 2 Hemenway Ave

Melrose, MA 02176 — Mount Hood

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02176 carries an estimated $3,730/mo in gross rent — about a 1.22% cap rate and $20,800/yr in estimated NOI at the $1,700,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

2.5

SqFt

3,000

Style

Single Family

Built

1912

Completely reimagined from top to bottom, 2 Hemenway Avenue offers nearly 3,000 square feet of beautifully finished living space in Melrose’s desirable Mount Hood neighborhood. Gut-renovated in 2023, this 4-bedroom, 2.5-bath home pairs sophisticated design and exceptional craftsmanship with thoughtful functionality for everyday living and entertaining. At the heart of the home is a showpiece kitchen featuring a full Thermador appliance package, custom cabinetry, stone countertops, an oversized sink, and a dedicated breakfast nook. An adjoining dining room provides space for larger gatherings, while the kitchen flows naturally into an inviting living room anchored by a newly constructed wood-burning fireplace. A separate bar room creates another distinctive space for entertaining. The primary suite is a private retreat with two walk-in closets, including a custom dressing closet with built-in makeup vanity. Three additional bedrooms offer flexibility for family, guests, or a home office, while a dedicated home gym adds everyday convenience. The quality extends beyond the finishes with Andersen 400 Series windows, custom window treatments, new plumbing and electrical, Bosch HVAC systems, Navien tankless hot water, and built-in indoor/outdoor speakers. Outside, mature landscaping and a generous yard surround a TimberTech AZEK deck in English Walnut with AZEK railings, creating an inviting setting for outdoor dining and entertaining. The home also features 50-year Hardie Board siding, a 30-year architectural shingle roof, new driveway, and 9-zone irrigation. The oversized garage features 2023 epoxy flooring, a 60-amp Tesla EV charger, and ample room for cars, gear, and storage. Approximately two miles from Oak Grove Orange Line and Wyoming Hill commuter rail stations, this turnkey Mount Hood home offers an exceptional combination of craftsmanship, space, privacy, and convenient access to Boston.

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 3,000 sq ft principal dwelling).

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

Original Price$1,700,000
Annual Taxes$13,218

Parking

Garage2
Off-Street8

Interior Specifications

Total Rooms13
Fireplaces1
FlooringWood, Tile, Hardwood, Flooring - Stone/Ceramic Tile
BasementFull

Climate & Utilities

HeatingCentral, Natural Gas
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningSRA

Property & Lot

Acres--
SqFt Lot0.39
Lot FeaturesCul-De-Sac, Corner Lot, Wooded

Amenities & Appliances

Tankless Water Heater • Dishwasher • Disposal • Microwave • Refrigerator • Freezer • Washer • Dryer • Water Treatment • Wine Refrigerator • Range Hood • Plumbed For Ice Maker

Neighborhood

Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • T-Station

Geography

Floorplan Breakdown

Structural Layout

Second
Primary BedroomBedroom 2Bedroom 3Bedroom 4Bathroom 2Bathroom 3
First
Dining RoomBathroom 1
Main,First
Living RoomKitchen
Living Room
Lvl Main,First

14.583333333 x 18.25

Flooring - Hardwood, Wet Bar, Open Floorplan, Remodeled

Dining Room
Lvl First

14.583333333 x 11.083333333

Flooring - Hardwood, Window(s) - Bay/Bow/Box, Wet Bar

Kitchen
Lvl Main,First

11.833333333 x 17.333333333

Flooring - Hardwood, Window(s) - Picture, Dining Area, Countertops - Upgraded, Kitchen Island, Cabinets - Upgraded, Open Floorplan, Recessed Lighting, Stainless Steel Appliances

Primary Bedroom
Lvl Second

16 x 17.583333333

Bathroom - Full, Bathroom - Double Vanity/Sink, Walk-In Closet(s), Closet/Cabinets - Custom Built, Flooring - Hardwood, Window(s) - Picture, Recessed Lighting, Remodeled

Bedroom 2
Lvl Second

14.083333333 x 11.916666666

Bedroom 3
Lvl Second

10.166666666 x 13.666666666

Closet/Cabinets - Custom Built, Flooring - Hardwood, Recessed Lighting

Bedroom 4
Lvl Second

12.166666666 x 8.916666666

Cedar Closet(s), Flooring - Hardwood, Recessed Lighting

Bathroom 1
Lvl First

5.25 x 4.666666666

Bathroom - Half

Bathroom 2
Lvl Second

14.916666666 x 7.5

Bathroom - Full, Enclosed Shower - Fiberglass, Double Vanity, Dressing Room, Recessed Lighting, Remodeled

Bathroom 3
Lvl Second

5.416666666 x 9.833333333

Bathroom - Full, Bathroom - With Tub, Remodeled

Listing Provided By

Listing Agent: Mission Realty Advisors

Listing Office: Compass

MLS® Number: 73573367