40 Chestnut St #3 Andover — Photo 1 of 26
$499,000
Investment Analysis — 40 Chestnut St #3
Andover, MA 01810
Based on HUD Small Area Fair Market Rent for Lawrence, MA-NH HUD Metro FMR Area, a 2-bedroom in 01810 carries an estimated $2,940/mo in gross rent — about a 3.35% cap rate and $16,714/yr in estimated NOI at the $499,000 list price. Adjust every assumption in the calculator below.
Beds
2
Baths
1
SqFt
1,247
Style
Condominium
Built
1910
Sophisticated downtown living in one of Andover’s most coveted locations. Welcome to 40 Chestnut Street, Unit 3, a beautifully renovated residence where thoughtful updates, character, and effortless convenience come together. Freshly painted interiors are enhanced by skylights and recessed lighting, creating a bright, polished atmosphere throughout. The newly renovated kitchen offers a fresh, modern aesthetic, complemented by an upgraded bath and custom closet. A new AC split system and hot water heater add comfort and peace of mind. Enjoy the rare conveniences of in-unit laundry, additional basement storage, and two off-street parking spaces. Outside, unwind on the balcony overlooking the park or enjoy the property’s common outdoor space. Pet friendly and perfectly positioned just moments from downtown Andover’s acclaimed restaurants, cafés, boutiques, commuter rail, and vibrant town center. Offered at $499,000, this is a rare opportunity to enjoy an elevated, low-maintenance lifestyle in the heart of Andover....Offers Due Tuesday Sept 8th @ 2pm
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 MLS and other third-party data may be inaccurate or out of date.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.
Immersive Experience
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Medical Facility • Laundromat
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Third21 x 21
Skylight, Cathedral Ceiling(s), Flooring - Hardwood, Balcony / Deck, Recessed Lighting, Slider
Kitchen
Lvl Third19 x 12
Closet, Flooring - Hardwood, Pantry, Countertops - Stone/Granite/Solid, Open Floorplan, Recessed Lighting, Remodeled, Stainless Steel Appliances
Master Bedroom
Lvl Third29 x 14
Ceiling Fan(s), Walk-In Closet(s), Closet/Cabinets - Custom Built, Flooring - Hardwood, Crown Molding
Bedroom 2
Lvl Third14 x 14
Bathroom 1
Lvl Third8 x 5
Bathroom - Full, Bathroom - With Tub & Shower, Flooring - Stone/Ceramic Tile
Listing Agent: Team Lillian Montalto
Listing Office: Lillian Montalto Signature Properties
MLS® Number: 73571644
