
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.
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.
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Interior Specifications
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Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Refrigerator • Washer • Dryer
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,FirstCeiling Fan(s), Flooring - Hardwood, Window(s) - Picture, Exterior Access, Lighting - Overhead
Kitchen
Lvl Main,FirstCeiling Fan(s), Flooring - Stone/Ceramic Tile, Dining Area, Countertops - Paper Based, Deck - Exterior, Exterior Access, Lighting - Overhead
Family Room
Lvl Main,FirstCeiling Fan(s), Vaulted Ceiling(s), Closet, Flooring - Hardwood, Chair Rail, Wainscoting, Lighting - Overhead
Master Bedroom
Lvl Main,FirstCloset, Flooring - Hardwood, Lighting - Overhead
Bedroom 2
Lvl SecondBedroom 3
Lvl SecondCloset, Flooring - Hardwood, Lighting - Overhead
Bathroom 1
Lvl Main,FirstBathroom - Full, Bathroom - With Tub & Shower, Ceiling Fan(s), Flooring - Stone/Ceramic Tile, Wainscoting, Lighting - Overhead
Listing Agent: North Point Home Group
Listing Office: Compass
MLS® Number: 73575538
