
231 Gulf St Shrewsbury — Photo 1 of 37
Recent Drop: $54,000
$1,295,000
Investment Analysis — 231 Gulf St
Shrewsbury, MA 01545
Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a 5-bedroom in 01545 carries an estimated $3,850/mo in gross rent — about a 1.38% cap rate and $17,921/yr in estimated NOI at the $1,295,000 list price. Adjust every assumption in the calculator below.
Beds
5
Baths
4.5
SqFt
4,887
Style
Single Family
Built
2005
231 Gulf Street is a Northeast-facing, five-bedroom Colonial set well back on a private, wooded 0.77-acre lot in north Shrewsbury, MA, offering 3,731 square feet above grade plus a finished walk-out lower level for nearly 4,900 total, with four full baths, one half bath, and a three-car attached garage. A two-story foyer opens to formal living and dining rooms with hardwood floors, coffered ceiling, and wainscoting. The 24x14 chef's kitchen with Viking appliances, granite, and center island flows into a sunken family room with stone fireplace and Brazilian cherry floors. A dedicated home office with custom built-ins and bay window, a four-season sunroom with slider to the deck, and a half bath complete the main level. Upstairs, the 28x21 primary suite offers a tray ceiling, custom closet cabinetry, walk-in closet, private bonus room, and a spa-style bath with soaking tub, glass shower, and skylight. Three additional bedrooms, one with vaulted ceiling and skylight, share two full baths, and the laundry is on the second floor. The walkout finished basement adds a 38x14 rec room with bar and exterior access, open flex space that currently hosts a home gym, plus a fifth bedroom and full bath for guests or multigenerational living. Walk-up attic, central vacuum, three-zone hydro-air heat and central air, 200-amp electric, insulated windows, newer water heater, whole-house water filtration, and town water. Built in 2005. Composite deck and patio overlook a level yard backed by woods. Approximately 1.1 miles to Shrewsbury High School.
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 4,887 sq ft principal dwelling). Lot size: 33,601 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.
No longer available to tour
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Water Heater • Oven • Dishwasher • Range • Refrigerator • Washer • Dryer • Water Treatment • Washer/Dryer • Water Softener • Plumbed For Ice Maker
Neighborhood
Public Transportation • Shopping • Walk/Jog Trails • Golf • Highway Access • Private School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First16 x 14
Flooring - Hardwood, Wainscoting, Lighting - Overhead
Dining Room
Lvl Main,First16 x 14
Coffered Ceiling(s), Flooring - Hardwood, Recessed Lighting, Wainscoting, Lighting - Pendant
Kitchen
Lvl Main,First24 x 14
Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Kitchen Island, Recessed Lighting
Office
Lvl Main15 x 11
Closet/Cabinets - Custom Built, Flooring - Hardwood, Window(s) - Bay/Bow/Box
Family Room
Lvl Main,First20 x 18
Ceiling Fan(s), Flooring - Hardwood, Recessed Lighting
Primary Bedroom
Lvl Second28 x 21
Ceiling Fan(s), Walk-In Closet(s), Closet/Cabinets - Custom Built, Flooring - Hardwood, Recessed Lighting, Lighting - Overhead
Bedroom 2
Lvl Second14 x 14
Bedroom 3
Lvl Second13 x 12
Ceiling Fan(s), Flooring - Hardwood, Lighting - Overhead, Closet - Double
Bedroom 4
Lvl Second13 x 11
Skylight, Ceiling Fan(s), Vaulted Ceiling(s), Walk-In Closet(s), Flooring - Hardwood, Lighting - Overhead
Bedroom 5
Lvl Basement13 x 13
Flooring - Stone/Ceramic Tile, Lighting - Overhead, Closet - Double
Bathroom 1
Lvl Second14 x 10
Bathroom - Tiled With Tub & Shower, Skylight, Vaulted Ceiling(s), Countertops - Stone/Granite/Solid, Double Vanity, Lighting - Sconce, Lighting - Overhead
Bathroom 2
Lvl Second10 x 8
Bathroom - With Tub & Shower, Closet, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Double Vanity, Lighting - Sconce, Lighting - Overhead
Bathroom 3
Lvl Second7 x 6
Bathroom - With Tub & Shower, Countertops - Stone/Granite/Solid, Lighting - Sconce, Lighting - Overhead
Property History
$1,295,000
Was $1,349,000
Aug 26, 2026
MLS® 73537341
$1,349,000
Was $1,395,000
Jul 13, 2026
MLS® 73537341
$1,395,000
Was $1,445,000
Jul 1, 2026
MLS® 73537341
$1,445,000
Jun 17, 2026
MLS® 73537341
Listing Agent: Paul Neavyn
Listing Office: Gibson Sotheby's International Realty
MLS® Number: 73537341
No longer available to tour








