3 Michael Dr Wareham — Photo 1 of 2
Recent Drop: $10,000
$45,000
Investment Analysis — 3 Michael Dr
Wareham, MA 02538
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a home in 02538 carries an estimated $2,040/mo in gross rent — about a 40.27% cap rate and $18,122/yr in estimated NOI at the $45,000 list price. Adjust every assumption in the calculator below.
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Don’t miss this unique opportunity to own 0.37 acres of direct waterfront on Agawam Mill Pond in Wareham. Enjoy endless recreational activities right from your own shoreline...fish, kayak, paddle board, canoe, or take out a motorboat and spend your days on the water. This property offers the perfect place to gather with friends, set up camp, or simply relax and enjoy the peaceful pond views. Ideal for those who live nearby but don’t have waterfront access, it’s a chance to create your own getaway without leaving town. While the lot is not believed to be buildable for a home, it offers tremendous value as a recreational retreat and affordable way to experience all that pond-front living has to offer. . Buyer/Buyers Agent to do all due diligence.
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 MLS and other third-party data may be inaccurate or out of date.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
Geography
Property History
$45,000
Was $49,000
Aug 3, 2026
MLS® 73423552
$49,000
Was $53,000
Apr 2, 2026
MLS® 73423552
$53,000
Was $55,000
Dec 16, 2025
MLS® 73423552
$55,000
Aug 30, 2025
MLS® 73423552
Listing Agent: The J. Pavao Team
Listing Office: Keller Williams South Watuppa
MLS® Number: 73423552
