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394 Sutton St North Andover — Photo 1 of 24

394 Sutton St North Andover — Photo 1 of 24

$550,000

Investment Analysis — 394 Sutton St

North Andover, MA 01845

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01845 carries an estimated $3,590/mo in gross rent — about a 4.88% cap rate and $26,849/yr in estimated NOI at the $550,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

1

SqFt

1,280

Style

Single Family

Built

1951

A Cape with good bones, ready for your vision. Tucked across from McEvoy Park on a quiet, level three-quarter-acre lot, this Cape gives an investor or hands-on buyer exactly what they're looking for: solid structure, honest wear, and real upside. The home has never been "flipped" before - original hardwood runs through nearly every room, the chair rail and wainscoting hint at the character worth preserving, and the layout (two bedrooms up, one down, a full bath, and a kitchen that opens to a rear deck) is a clean, sensible footprint to build a renovation plan around rather than fight against. The value-add is obvious at a glance: a kitchen and bath that are functional but are due for a full modernization, a basement with exterior bulkhead access that's begging to be finished into additional living space, and cosmetic surfaces throughout - paint, fixtures, flooring refinishing - that will transform the home's feel without touching the bones. Add central air, update to make it yours, and this could be a completely different property. The lot itself does a lot of the work for you: level, gently wooded at the edges, with mature shade trees and room to expand the deck or add a patio. Being directly across from a neighborhood park is the kind of amenity that's impossible to manufacture and reads well to future buyers. Location adds to the case - easy reach of Routes 495 and 93 puts commuters within range of the Merrimack Valley job corridor and southern New Hampshire, while North Andover's town center, schools, and Lake Cochichewick are all a short drive away. For a buyer willing to put in the work, this is a property where sweat equity has a clear path to real return.

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: 640 sq ft (the lesser of 900 sq ft or half the 1,280 sq ft principal dwelling). Lot size: 12,841 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.

Open Houses

Property Details

Financials

Original Price$550,000
Annual Taxes$5,892

Parking

Garage0
Off-Street2

Interior Specifications

Total Rooms6
FireplacesNone
FlooringTile, Hardwood
BasementInterior Entry, Bulkhead, Unfinished

Climate & Utilities

HeatingForced Air, Natural Gas
CoolingWindow Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationBlock
ZoningR4

Property & Lot

Acres0.29
SqFt Lot12,841
Lot FeaturesLevel

Amenities & Appliances

Range • Dishwasher • Refrigerator • Washer • Dryer

Geography

Floorplan Breakdown

Structural Layout

Second
Bedroom 2Bedroom 3
Main,First
Living RoomKitchenFamily RoomMaster BedroomBathroom 1
Living Room
Lvl Main,First

Ceiling Fan(s), Flooring - Hardwood, Window(s) - Picture, Exterior Access, Lighting - Overhead

Kitchen
Lvl Main,First

Ceiling Fan(s), Flooring - Stone/Ceramic Tile, Dining Area, Countertops - Paper Based, Deck - Exterior, Exterior Access, Lighting - Overhead

Family Room
Lvl Main,First

Ceiling Fan(s), Vaulted Ceiling(s), Closet, Flooring - Hardwood, Chair Rail, Wainscoting, Lighting - Overhead

Master Bedroom
Lvl Main,First

Closet, Flooring - Hardwood, Lighting - Overhead

Bedroom 2
Lvl Second
Bedroom 3
Lvl Second

Closet, Flooring - Hardwood, Lighting - Overhead

Bathroom 1
Lvl Main,First

Bathroom - Full, Bathroom - With Tub & Shower, Ceiling Fan(s), Flooring - Stone/Ceramic Tile, Wainscoting, Lighting - Overhead

Listing Provided By

Listing Agent: North Point Home Group

Listing Office: Compass

MLS® Number: 73575538