
764 Central Ave Needham — Photo 1 of 2
$1,500,000
Investment Analysis — 764 Central Ave
Needham, MA 02492 — Sunital Williams Elementary
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 5-bedroom in 02492 carries an estimated $4,770/mo in gross rent — about a 2.17% cap rate and $32,513/yr in estimated NOI at the $1,500,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
2
SqFt
1,705
Style
Single Family
Built
1864
Two a adjoining building lots. Welcome to 764 Central Avenue in the desirable Sunita Williams School neighborhood! Set near Volante Farms, this distinctive property offers an exceptional opportunity to renovate, expand or explore new construction on an approximately 45,942 sq. ft. lot. The gently rolling grounds feature a picturesque ornamental pond, traditionally enjoyed for winter ice skating, creating a unique setting rarely found this close to Needham Center. The sun-filled Cape-style residence offers approximately 1,705 sq. ft. of living space, including five bedrooms, two full baths and a comfortable living room. Renovate and personalize the existing home, undertake a substantial expansion, or investigate the property's new-construction potential, subject to all applicable approvals and buyer due diligence. An additional opportunity: An abutting approximately 10,209 sq. ft. lot with an existing New England timber frame barn is also available for purchase separately ($1,000,000), providing buyers the opportunity to assemble approximately 56,151 sq. ft. of contiguous land. Buyers interested in additional land, privacy, recreational space or development potential should inquire for details. Enjoy convenient access to Sunita Williams Elementary School, athletic fields, playgrounds and Volante Farms. Needham Center and Needham Heights commuter-rail stations are nearby, along with Needham's restaurants, shops, recreational facilities and active cultural community. And yes, there is a Trader Joe's! A distinctive property with abundant land and possibilities in one of Needham's most convenient neighborhoods. Property is being sold “as is.” Buyers and their representatives are responsible for independently verifying all information and performing their own due diligence regarding zoning, wetlands, utilities, permits, buildability and development potential.
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: 853 sq ft (the lesser of 900 sq ft or half the 1,705 sq ft principal dwelling). Lot size: 45,956 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.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Water Heater
Neighborhood
Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Walk/Jog Trails
Geography
Listing Agent: Michael Niden
Listing Office: Keller Williams Realty
MLS® Number: 73571674

