
321 Lake Ave Newton — Photo 1 of 20
$2,595,000
Investment Analysis — 321 Lake Ave
Newton, MA 02461
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 5-bedroom in 02461 carries an estimated $5,760/mo in gross rent — about a 1.22% cap rate and $31,685/yr in estimated NOI at the $2,595,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
5
SqFt
4,205
Style
Single Family
Built
2020
Beautifully maintained and well-constructed young-construction townhouse that lives like a single-family home, offering generous space and privacy in a desirable Newton Highlands location close to Crystal Lake, Newton Centre, shops, restaurants, and the Green Line. The main level features an open floor plan with high ceilings and abundant natural light. A large kitchen with a generous center island opens to the dining and living areas, with direct access to a private fenced yard with mature plantings and a patio, creating a wonderful setting for everyday living and entertaining. A first-floor bedroom with an en-suite bath also works well as a home office or den. Upstairs, the spacious primary suite includes two walk-in closets, a large bath with a soaking tub and walk-in shower, and an adjoining nursery or office. Two additional bedrooms share a bath. The top floor offers another bedroom and a full bath, providing flexible space for guests, work, or play. The finished lower level includes a gym, additional bedroom, playroom, storage, and a full bath. There is a two-car garage with direct access, along with additional driveway parking. A wonderful home with the space, layout, and flexibility of a single-family home in one of Newton’s most convenient locations, close to the MBTA Green Line, local schools, restaurants, shops, and more.
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 4,205 sq ft principal dwelling). Lot size: 14,980 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.
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Property History
$2,595,000
Sep 8, 2026
MLS® 73572900
$2,595,000
Sep 8, 2026
MLS® 73572881
Listing Agent: Rachel Goldman
Listing Office: MGS Group Real Estate LTD
MLS® Number: 73572900

