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24 Andover Street Peabody — Photo 1 of 42

$539,900

Investment Analysis — 24 Andover Street

Peabody, MA 01960

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01960 carries an estimated $3,080/mo in gross rent — about a 4.38% cap rate and $23,635/yr in estimated NOI at the $539,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,140

Style

Single Family

Built

1893

Welcome to this charming & *affordable* move-in ready 3-BR gem! Great opportunity to enjoy comfortable & convenient living with room to spread out. Peabody was named America’s #1 hottest zip code for 2026 by Realtor.com! Come see why people want to live in this vibrant North Shore city just 30 minutes from Boston. Main level features an updated eat-in kitchen that has a fresh, modern feel while retaining the warmth & character of the home. Enjoy the soft close cabinets & newer appliances including brand new stove/oven (2026), Dishwasher (2025), & Refrigerator (2022). An updated full bathroom & laundry area are both located off the kitchen. A large living room is waiting for your upcoming family gatherings & a highly desirable BR (or home office) with a closet provides flexibility - ideal for guests, one-level living, or anyone who prefers to avoid stairs. 2nd level includes 2 additional good-sized BRs with closets & ceiling fans. Another upstairs room can serve as either a quiet home office, hobby room, or potentially another guest or child’s BR (no closet). Step outside to a fenced in yard that provides plenty of private space - perfect for entertaining, gardening, or simply enjoying the outdoors. The yard is a great setting for summer fun, complete with a patio area & a 15’ above-ground pool for cooling off on hot New England days! A new filter system was purchased this year & a motor pump in 2024. A pool shed plus a wooden storage shed (8’x12’) provide convenient space to store lawn equipment, tools, & pool/seasonal items. There are lots of extra storage areas in the large bsmt plus attic space. Low maintenance vinyl siding exterior provides peace of mind. Lots of recent updates have been made so you can move right in without having a list of projects to do. Roof was replaced in 2017/2018. Forced hot air GAS furnace was replaced in 2018. Central AC was installed in 2018. Hot water tank by gas replaced in Dec 2025. With fresh paint throughout most of the home & new flooring in many rooms, this house is ready for its next owners. Conveniently located just minutes from all that downtown Peabody has to offer. With easy highway access, just minutes from Route 128 & nearby Route 1, commuting is effortless - making this an ideal choice for anyone looking to balance the charm of North Shore living with everyday practicality.The North Shore continues to attract buyers who want character, convenience & community all in one place. Act fast before it's too late!

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: 570 sq ft (the lesser of 900 sq ft or half the 1,140 sq ft principal dwelling). Lot size: 13,965 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.