
438 Waltham St Lexington — Photo 1 of 42
$1,379,000
Investment Analysis — 438 Waltham St
Lexington, MA 02421
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02421 carries an estimated $5,560/mo in gross rent — about a 2.61% cap rate and $35,923/yr in estimated NOI at the $1,379,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
3.5
SqFt
3,157
Style
Single Family
Built
1953
A thoughtfully updated and expanded Colonial you will love coming home to, 438 Waltham Street offers an impressive combination of modern style, generous living spaces, and everyday convenience. A circular driveway provides easy access in and out, while the home’s convenient location puts Clarke Middle School, tennis and pickleball courts, conservation land, shopping, dining, the town center, and everyday amenities all within easy reach. The welcoming foyer opens gradually into the sun-filled living room, where hardwood floors, a large picture window, and wood-burning fireplace create a warm and inviting atmosphere, perfect for entertaining or simply relaxing at home. Entertain in style in the formal dining room, featuring hardwood floors, a built-in corner cabinet, and plenty of space to accommodate friends and family. Everyone will love gathering in the stunning, open-concept kitchen featuring granite countertops, a breakfast bar island, pendant and recessed lighting, and a ceramic tile floor. The adjoining informal dining area sets the stage for easy everyday meals. A glass slider opens to the deck and backyard beyond, perfect for soaking up a little sunshine or enjoying the spacious, level yard. The spacious family room, set behind French doors, offers the perfect blend of comfort and practicality. Flowing easily from the kitchen and filled with natural light, this inviting space features recessed lighting and hardwood flooring, creating a comfortable setting for movie nights, gatherings, or simply unwinding at the end of the day. A half bathroom completes the main level. Comfort and style continue on the second level with the primary suite, three additional bedrooms, and a full family bathroom off the main hall. The oversized primary bedroom offers a walk-in closet for plenty of storage and organization. The primary bathroom is updated with a tiled shower, Jacuzzi tub, and a dual sink vanity. The cheerful family bedrooms are filled with natural light and feature hardwood floors and ample closet space, all with easy access to the family bathroom with a tiled tub and shower and a dual sink vanity. Retreat to the third level to discover two spacious and versatile rooms, both featuring hardwood floors and skylights, and full bathroom. Whether you envision a secondary family room, exercise area, private office, hobby space, or a combination of uses, this flexible level is ready to adapt to your needs. Move right in!
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 3,157 sq ft principal dwelling). Lot size: 6,109 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.
Immersive Experience
Open Houses
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Water Heater • Range • Dishwasher • Disposal • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Walk/Jog Trails • Golf
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First19 x 11
Flooring - Hardwood, Window(s) - Picture
Dining Room
Lvl First15 x 11
Flooring - Hardwood, Lighting - Overhead
Kitchen
Lvl First21 x 15
Flooring - Stone/Ceramic Tile, Dining Area, Pantry, Countertops - Stone/Granite/Solid, French Doors, Kitchen Island, Breakfast Bar / Nook, Deck - Exterior, Exterior Access, Open Floorplan, Recessed Lighting, Slider, Lighting - Pendant
Office
Lvl Third17 x 13
Skylight, Ceiling Fan(s), Ceiling - Vaulted, Flooring - Hardwood, Lighting - Overhead
Family Room
Lvl First25 x 14
Flooring - Hardwood, French Doors, Recessed Lighting
Master Bedroom
Lvl Second22 x 18
Bathroom - Full, Bathroom - Double Vanity/Sink, Ceiling Fan(s), Walk-In Closet(s), Flooring - Hardwood
Bedroom 2
Lvl Second15 x 11
Bedroom 3
Lvl Second13 x 11
Flooring - Hardwood, Lighting - Overhead, Closet - Double
Bedroom 4
Lvl Second13 x 11
Flooring - Hardwood, Lighting - Overhead, Closet - Double
Bathroom 1
Lvl SecondBathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Jacuzzi / Whirlpool Soaking Tub
Bathroom 2
Lvl SecondBathroom - Double Vanity/Sink, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Bathroom 3
Lvl ThirdBathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Pedestal Sink
Listing Agent: Danielle Fleming
Listing Office: MA Properties
MLS® Number: 73575429
