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29 Lake Shore Drive Wales — Photo 1 of 40

29 Lake Shore Drive Wales — Photo 1 of 40

$649,000

Investment Analysis — 29 Lake Shore Drive

Wales, MA 01081

Based on HUD Small Area Fair Market Rent for Springfield, MA MSA, a 3-bedroom in 01081 carries an estimated $2,400/mo in gross rent — about a 2.43% cap rate and $15,794/yr in estimated NOI at the $649,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2

SqFt

2,027

Style

Single Family

Built

1965

Waterfront living takes center stage in this beautifully positioned lakefront home, where expansive water views create an incredible backdrop from morning through sunset. Designed for single-floor living, the home offers three bedrooms, generous living spaces and a connection to the water throughout the interior. The living room is the focal point, framed by an impressive picture window showcasing panoramic lake views. A pellet stove set against a stone surround anchors the space, while an adjoining sitting area provides another front-row seat to the waterfront. The kitchen features rich wood cabinetry, new quartz countertops and a window above the sink overlooking the water. The primary bedroom offers its own waterfront experience with multiple windows, sliders leading directly to the deck and a private full bath. Two additional bedrooms and a newly renovated main bathroom with a glass-enclosed shower and new quartz countertop complete the main level. The walk-out lower level expands the living space with another fireplace and dry bar, with direct access toward the waterfront. Across the back of the home, an expansive deck with a covered gazebo overlooks the lake, creating an incredible setting for morning coffee or taking in the sunsets. At the shoreline, a private dock provides direct lake access, while the boat garage offers the ability to anchor and pull a boat in. The property is fenced along the sides while remaining open at the water’s edge. An adjacent lot with additional storage areas brings the combined property to approximately half an acre. Additional features include an owned solar system with the potential to offset most, if not all, of the home’s electric usage, a two-car garage and attached garden shed. With two lots, extensive waterfront access, multiple finished living areas and spaces designed around the lake, this property offers an exceptional opportunity to experience waterfront living from the home all the way to the water’s edge.

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 2,027 sq ft principal dwelling). Lot size: 21,780 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

Original Price$649,000
Annual Taxes$6,094

Parking

Garage2
Off-Street8

Interior Specifications

Total Rooms6
Fireplaces1
FlooringTile, Carpet
BasementFull, Partially Finished, Walk-Out Access, Garage Access

Climate & Utilities

HeatingElectric, Propane, Ductless
CoolingDuctless
WaterPrivate
SewerPrivate Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningRES

Property & Lot

Acres0.5
SqFt Lot21,780
Lot FeaturesCleared

Amenities & Appliances

Range • Refrigerator

Geography

Floorplan Breakdown

Structural Layout

First
Dining RoomBedroom 2Bedroom 3Bathroom 1Bathroom 2
Main,First
Living RoomKitchenMaster Bedroom
Living Room
Lvl Main,First

Wood / Coal / Pellet Stove, Flooring - Wall to Wall Carpet, Window(s) - Picture

Dining Room
Lvl First

Flooring - Wall to Wall Carpet, Open Floorplan

Kitchen
Lvl Main,First

Closet/Cabinets - Custom Built, Window(s) - Picture, Countertops - Stone/Granite/Solid, Slider

Master Bedroom
Lvl Main,First

Closet, Flooring - Wall to Wall Carpet, Balcony / Deck, Exterior Access, Slider

Bedroom 2
Lvl First
Bedroom 3
Lvl First

Closet, Flooring - Wall to Wall Carpet

Bathroom 1
Lvl First

Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Countertops - Upgraded, Double Vanity, Remodeled

Bathroom 2
Lvl First

Bathroom - Full, Bathroom - Tiled With Shower Stall, Countertops - Stone/Granite/Solid

Listing Provided By

Listing Agent: Marisol Franco

Listing Office: Coldwell Banker Realty - Western MA

MLS® Number: 73575614