9 Codman Spring Road Edgartown — Photo 1 of 36
$2,500,000
Investment Analysis — 9 Codman Spring Road
Edgartown, MA 02539 — Codman Spring
Based on HUD Small Area Fair Market Rent for Dukes County, MA, a 4-bedroom in 02539 carries an estimated $3,430/mo in gross rent — about a 1.13% cap rate and $28,255/yr in estimated NOI at the $2,500,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
2.5
SqFt
1,786
Style
Single Family
Built
1982
Charming four bedroom property set on 0.88 acres along Codman Spring Road, offering a convenient location with easy access to Edgartown Village, Morning Glory, South Beach and all other island towns. Surrounded by beautiful gardens, the home features an expansive wraparound deck ideal for outdoor living and entertaining, as well as a garden shed for additional storage. Inside, two wood-burning fireplaces and a wood stove add warmth and character, while abundant natural light and a highly functional floor plan create a welcoming and comfortable home well suited to a variety of lifestyles. Connected to town sewer, the property offers the potential for up to seven bedrooms with town approval, providing exciting possibilities for future expansion. A partially finished walk-out basement adds flexible additional space. Whether enjoyed as a year round residence or seasonal Island retreat, this property offers space, convenience, and potential. To add to this well rounded offering, this property is also being offered turnkey!
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: 893 sq ft (the lesser of 900 sq ft or half the 1,786 sq ft principal dwelling). Lot size: 38,332 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.
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Property Details
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Building & Exterior
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Amenities & Appliances
Electric Water Heater
Neighborhood
Tennis Court(s) • Bike Path
Geography
Listing Agent: Madelyn Silvia
Listing Office: Wallace & Co. Sotheby's International Realty
MLS® Number: 73564299
