308 Salem Road Billerica — Photo 1 of 31
$850,000
Investment Analysis — 308 Salem Road
Billerica, MA 01821
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01821 carries an estimated $3,530/mo in gross rent — about a 3.32% cap rate and $28,242/yr in estimated NOI at the $850,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2
SqFt
3,620
Style
Single Family
Built
1700
A rare opportunity to own one of Billerica’s oldest significant homes! The Patten Family Homestead at 308 Salem Road dates to the early 18th century and is recognized in the Town of Billerica’s Historical Resources Inventory. Steeped in local history, this remarkable 3-bedroom, 2-bath residence offers approximately 3,620 square feet of living space on 1.27 acres, with six fireplaces and exceptional antique architectural details. The property is also associated with the Rufus Porter tradition of decorative wall murals, adding another fascinating chapter to its history and character. Once part of the extensive Patten family farm, the homestead has strong connections to early Billerica, the Middlesex Canal, agriculture and milling. A truly special opportunity to own, preserve and enjoy a remarkable piece of Billerica history.
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 3,620 sq ft principal dwelling). Lot size: 55,321 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 • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Golf • Medical Facility • Laundromat
Geography
Listing Agent: Linda Glennon
Listing Office: Conway - Hanover
MLS® Number: 73565279
