228 River St Norwell — Photo 1 of 42
$1,795,000
Investment Analysis — 228 River St
Norwell, MA 02061
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02061 carries an estimated $3,880/mo in gross rent — about a 1.02% cap rate and $18,334/yr in estimated NOI at the $1,795,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
3.5
SqFt
4,432
Style
Single Family
Built
1999
Set along scenic and historic River Street, this spacious 4-bedroom, 3.5-bath Colonial offers more than an acre of beautifully landscaped grounds and a private backyard oasis. The fenced yard features a heated gunite pool powered by paid-off solar panels, mature plantings and a newly built deck with direct access from the cathedral-ceiling living room. Inside, the updated kitchen, refreshed first-floor half bath, custom mudroom lockers and family room with built-ins combine style with everyday function. The full walkout lower level opens directly to the pool area and offers exceptional entertaining and flex space, including a custom mahogany wet bar with kegerator, gas fireplace, game room, gym area, full bath and additional living space. Upstairs are four bedrooms, including a primary suite with walk-in closet, Jacuzzi soaking tub and separate shower. Additional highlights include finished loft space over the oversized two-door garage, a new front portico and a bluestone walkway. **A truly spectacular home offering space, style and a resort-like setting in one of Norwell’s most picturesque locations.
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 4,432 sq ft principal dwelling). Lot size: 45,302 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
Gas Water Heater • Range • Dishwasher • Microwave • Refrigerator • Freezer • Washer • Dryer • Wine Refrigerator
Neighborhood
Shopping • Walk/Jog Trails • House of Worship
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First15 x 19
Cathedral Ceiling(s), Flooring - Hardwood, French Doors, Cable Hookup, Deck - Exterior, Exterior Access
Dining Room
Lvl First15 x 13
Flooring - Hardwood, Chair Rail
Kitchen
Lvl First23 x 16
Flooring - Hardwood, Window(s) - Bay/Bow/Box, Dining Area, Countertops - Stone/Granite/Solid, Countertops - Upgraded, Kitchen Island, Cabinets - Upgraded, Recessed Lighting, Stainless Steel Appliances, Wine Chiller, Gas Stove, Window Seat
Family Room
Lvl First15 x 15
Closet/Cabinets - Custom Built, Flooring - Hardwood, French Doors, Cable Hookup
Primary Bedroom
Lvl Second22 x 15
Bathroom - Full, Bathroom - Double Vanity/Sink, Walk-In Closet(s), Closet/Cabinets - Custom Built, Flooring - Wall to Wall Carpet, Attic Access
Bedroom 2
Lvl Second16 x 12
Bedroom 3
Lvl Second13 x 13
Closet/Cabinets - Custom Built, Flooring - Wall to Wall Carpet
Bedroom 4
Lvl Second16 x 15
Closet/Cabinets - Custom Built, Flooring - Wall to Wall Carpet
Bathroom 1
Lvl Main,FirstBathroom - Half, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Remodeled, Lighting - Sconce, Beadboard
Bathroom 2
Lvl SecondBathroom - Full, Bathroom - With Tub & Shower, Closet - Linen, Flooring - Stone/Ceramic Tile
Bathroom 3
Lvl SecondBathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - With Shower Stall, Flooring - Stone/Ceramic Tile, Jacuzzi / Whirlpool Soaking Tub, Double Vanity
Listing Agent: Sarah Mcguirk
Listing Office: Coldwell Banker Realty - Norwell - Hanover Regional Office
MLS® Number: 73560131
