
137 Central St North Reading — Photo 1 of 28
$729,900
Investment Analysis — 137 Central St
North Reading, MA 01864
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01864 carries an estimated $3,800/mo in gross rent — about a 3.58% cap rate and $26,155/yr in estimated NOI at the $729,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2
SqFt
2,207
Style
Single Family
Built
1954
OH SUNDAY, 10/4 12:00-2:00P Welcome to this beautifully maintained and thoughtfully updated FULL DORMER CAPE. This home truly shines and welcomes you with an updated white kitchen featuring quartz countertops, stainless steel appliances and a stylish tile back splash. Just off the kitchen is the nicely sized dining room leading into the spacious living room, highlighted by a wood paneled accent wall, wood burning FP and a picture window that fills the room with natural light. A new full bath w/tiled shower and glass doors complete the main level. There are 3 bedrooms including a 1st FLOOR BEDROOM conveniently located just off the bathroom. Upstairs are 2 additional front-to-back bedrooms. The primary bedroom is large 18 x 15; the other bedroom is nicely sized as well. An updated full bath is located on this level. Further enhancing this home are 2 finished rooms in the walk-out lower level plus a large 24 x 10 storage room. These 2 finished rooms offer a versatile additional living space perfect for a home office, gym, family room or whatever best suits your needs. This home sits on a large .60acre lot. Venture to the large, level backyard offering a shed and plenty of space for outdoor entertaining, gardening or simply relaxing. Natural gas heat, town water and Title V passing certificate of compliance.
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 2,207 sq ft principal dwelling). Lot size: 26,136 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
Water Heater • Range • Disposal • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Shopping • Park • Walk/Jog Trails • Golf • Medical Facility • Conservation Area
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First17 x 12
Flooring - Hardwood, Window(s) - Picture
Dining Room
Lvl First12 x 10
Closet, Flooring - Hardwood, Lighting - Overhead
Kitchen
Lvl First12 x 11
Flooring - Laminate, Countertops - Stone/Granite/Solid, Exterior Access, Stainless Steel Appliances, Lighting - Pendant, Lighting - Overhead
Family Room
Lvl Basement14 x 11
Closet, Flooring - Wall to Wall Carpet, Exterior Access, Recessed Lighting
Primary Bedroom
Lvl Second18 x 15
Closet, Flooring - Hardwood, Lighting - Overhead
Bedroom 2
Lvl Second17 x 9
Bedroom 3
Lvl First12 x 11
Ceiling Fan(s), Closet, Flooring - Hardwood, Lighting - Overhead
Bathroom 1
Lvl FirstBathroom - Full, Bathroom - Tiled With Shower Stall
Bathroom 2
Lvl SecondBathroom - Full, Bathroom - With Tub & Shower
Listing Agent: Karen J. Dame
Listing Office: Century 21 North East
MLS® Number: 73584567








