
41 Hillcrest Ave Melrose — Photo 1 of 40
$1,200,000
Investment Analysis — 41 Hillcrest Ave
Melrose, MA 02176 — Bellevue Neighborhood
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02176 carries an estimated $3,730/mo in gross rent — about a 2.04% cap rate and $24,426/yr in estimated NOI at the $1,200,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
1.5
SqFt
2,231
Style
Single Family
Built
1935
This beautiful center-entrance, brick-front Colonial is perfectly situated on an expansive lot overlooking a gorgeous, tree-lined neighborhood. Location, location, location! Enjoy being just steps from the country club, bus line, shops, and so much more. Inside, the renovated kitchen features a Wolf range, and beautiful features, this space is the heart of the home. Open layout flowing seamlessly into the dining and bar areas, perfect for everyday living and entertaining. Hardwood floors continue throughout much of the home. The front-to-back, fireplaced living room is an impressive space, enhanced by gorgeous moldings and beautiful built-in bookcases. A convenient half bath completes the first floor. Upstairs, you’ll find four bedrooms and a full bath all on the same level. The oversized primary bedroom offers a walk-in closet and plenty of room to create your own private retreat. Off the hallway, stairs lead to an unfinished attic offering exciting potential for future expansion. The finished lower level is ready to host the big game, featuring a spacious family room with a second fireplace. An additional room provides wonderful flexibility for extended family, a home office, gym, or guest space. Outside is where this home truly shines! A large two-car garage, long landscaped lot, deck, adorable “she shed,” newer patio, and picture-perfect screened porch create multiple spaces to relax and entertain. From summer dinners on the patio to evenings on the screened porch, this backyard is made for gathering with family and friends. Mature plantings and established landscaping add to the home’s incredible curb appeal. A wonderful home, an exceptional lot, and a picture-perfect location—you won’t want to miss this opportunity!
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 2,231 sq ft principal dwelling). Lot size: 8,041 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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Electric Water Heater • Range • Dishwasher • Disposal • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Golf
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First24 x 12
Flooring - Hardwood, French Doors, Exterior Access, Open Floorplan, Remodeled, Decorative Molding
Dining Room
Lvl Main,First14 x 13
Flooring - Hardwood, Wet Bar, Breakfast Bar / Nook, Exterior Access, Open Floorplan, Recessed Lighting, Remodeled, Gas Stove, Crown Molding
Kitchen
Lvl Main,First16 x 10
Flooring - Hardwood, Open Floorplan, Recessed Lighting, Remodeled
Family Room
Lvl Basement18 x 13
Flooring - Wall to Wall Carpet, Recessed Lighting, Remodeled, Storage
Master Bedroom
Lvl Second16 x 12
Walk-In Closet(s), Flooring - Hardwood, Remodeled
Bedroom 2
Lvl Second13 x 12
Bedroom 3
Lvl Second11 x 11
Closet, Flooring - Hardwood, Remodeled
Bedroom 4
Lvl Second12 x 12
Closet, Flooring - Hardwood, Remodeled
Bathroom 1
Lvl Main,First6 x 6
Bathroom - Half
Bathroom 2
Lvl Second8 x 6
Bathroom - Full, Bathroom - Tiled With Tub & Shower
Property History
$1,200,000
Sep 9, 2026
MLS® 73573768
$550,000
Jul 15, 2010
MLS® 71105853
$550,000
Jul 7, 2010
MLS® 71105853
Listing Agent: Leeman & Gately
Listing Office: Compass
MLS® Number: 73573768
