Investment Analysis — 24 Elm St

Franklin, MA 02038

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02038 carries an estimated $3,080/mo in gross rent — about a 3.21% cap rate and $20,889/yr in estimated NOI at the $649,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,690

Style

Single Family

Built

1965

Welcome to Franklin! This one-level ranch on 1.54 acres offers amazing potential for buyers ready to update and make it their own. Inside, a fireplaced living room anchors the main living space, and both the back sliders and a kitchen door open to a new deck overlooking a spacious, beautiful flexible backyard with room to relax, entertain, or garden. Recent updates include a roof approx. 6 years old, a 1-year-old deck, an upgraded electrical panel, and a leased solar system installed approx. 4 years ago. Mechanicals include a recently serviced Burnham gas furnace and a 2019 gas hot water heater. The partially finished lower level adds recreation space with a built-in bar, kitchenette, laundry, and abundant storage. An attached two-car garage completes the package. Bring your vision and make this Franklin home your own!

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: 845 sq ft (the lesser of 900 sq ft or half the 1,690 sq ft principal dwelling). Lot size: 66,865 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.