Investment Analysis — 139 Massachusetts Ave

North Andover, MA 01845

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 2-bedroom in 01845 carries an estimated $2,990/mo in gross rent — about a 4.46% cap rate and $22,320/yr in estimated NOI at the $499,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,557

Style

Single Family

Built

1940

Welcome home to this charming, well-cared-for North Andover bungalow, where classic character meets a fresh, modern feel. Enjoy easy one-level living in this bright 2-bedroom, 1-bath home with gleaming hardwood and CoreLuxe Vinyl flooring, under cabinet lighting, and abundant natural light. The spacious eat-in kitchen features quartz countertops, stainless steel appliances, an induction stove, ample cabinetry, and a center island with plenty of room to gather. A welcoming living room and enclosed side porch/mudroom add character and everyday function. The heated, partially finished walk-out lower level offers two flexible bonus spaces for a family room, home office, gym, or hobby area, along with ample storage and a half bath already started for future completion. Outside, enjoy morning coffee on the front porch or unwind in the private, fenced-in backyard with patio and storage shed, ideal for relaxing, entertaining, and gardening. Kitchen and bath improvements, boiler, electric water heater, and fenced yard were all completed in 2019. The home is heated by an oil-fired boiler with hot water heat and has town water and sewer, with natural gas available on the street. A paved driveway offers parking for two cars. Ideally located near Route 495, schools, playgrounds, shopping, and restaurants. Whether you're a first-time buyer, simplifying to one-level living, or seeking a condo alternative with your own private outdoor space, this bungalow delivers classic charm, modern style, and versatility.

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: 779 sq ft (the lesser of 900 sq ft or half the 1,557 sq ft principal dwelling). Lot size: 4,791 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.