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4 Groveland Road Melrose — Photo 1 of 38

4 Groveland Road Melrose — Photo 1 of 38

$1,100,000

Investment Analysis — 4 Groveland Road

Melrose, MA 02176

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02176 carries an estimated $3,380/mo in gross rent — about a 2.18% cap rate and $23,949/yr in estimated NOI at the $1,100,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

2.5

SqFt

2,113

Style

Single Family

Built

1966

Welcome to 4 Groveland Road, a charming 3-bedroom, 2.5-bath Colonial tucked into a desirable Melrose neighborhood. A classic white fence, new walkway and welcoming front entry set the tone for this thoughtfully updated home. The welcoming living room is complete with a fireplace, built-in bookshelves, cedar-lined bench storage and a beautifully updated half bath, along with a dedicated laundry room. Upstairs, an oversized kitchen offers plenty of space to gather, complete with granite countertops, gas cooking and easy access through a new slider to the back deck. The home offers a flexible layout with a spacious 1st floor primary bedroom featuring a private bath with heated floors, double vanities, tub and separate shower, plus two additional bedrooms upstairs. Outside, enjoy a fully fenced yard, deck, storage shed and swing set—perfect for relaxing, entertaining and enjoying the seasons. Additional highlights include central AC, recessed lighting, a new electrical panel, full insulation and a new roof in 2024. Ample off street parking spaces complete the package. Commuters will appreciate convenient access to the Orange Line, commuter rail and nearby bus service, while still enjoying the neighborhood feel that makes Melrose such a sought-after place.

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 2,113 sq ft principal dwelling). Lot size: 8,359 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$1,100,000
Annual Taxes$6,877

Parking

Garage0
Off-Street3

Interior Specifications

Total Rooms7
Fireplaces1
FlooringWood, Tile, Hardwood
BasementNone

Climate & Utilities

HeatingBaseboard, Natural Gas
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionConventional (2x4-2x6)
RoofShingle
FoundationOther
ZoningURA

Property & Lot

Acres0.19
SqFt Lot8,359
Lot FeaturesCorner Lot

Amenities & Appliances

Water Heater

Neighborhood

Public Transportation • Shopping • Tennis Court(s) • Walk/Jog Trails • Golf • Medical Facility

Geography

Floorplan Breakdown

Structural Layout

Second
Living RoomKitchenBedroom 2Bedroom 3Bathroom 3
First
Family RoomMaster BedroomBathroom 1Bathroom 2
Living Room
Lvl Second

17 x 13

Flooring - Hardwood, Deck - Exterior, Recessed Lighting, Slider

Kitchen
Lvl Second

15 x 11

Flooring - Hardwood, Countertops - Stone/Granite/Solid, Recessed Lighting, Stainless Steel Appliances

Family Room
Lvl First

17 x 23

Closet, Flooring - Wood, Exterior Access, Recessed Lighting

Master Bedroom
Lvl First

14 x 23

Bathroom - Full, Closet, Flooring - Stone/Ceramic Tile, Recessed Lighting

Bedroom 2
Lvl Second

13 x 11

Bedroom 3
Lvl Second

11 x 13

Closet, Flooring - Hardwood

Bathroom 1
Lvl First

7 x 8

Bathroom - Half, Flooring - Stone/Ceramic Tile

Bathroom 2
Lvl First

12 x 11

Bathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Shower Stall, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile, Recessed Lighting

Bathroom 3
Lvl Second

7 x 9

Bathroom - Tiled With Tub, Flooring - Stone/Ceramic Tile

Listing Provided By

Listing Agent: Beatrice Murphy

Listing Office: Lamacchia Realty, Inc.

MLS® Number: 73572737