
245 Summer Ave Reading — Photo 1 of 42
$2,250,000
Investment Analysis — 245 Summer Ave
Reading, MA 01867
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 6-bedroom in 01867 carries an estimated $3,470/mo in gross rent — about a 0.48% cap rate and $10,846/yr in estimated NOI at the $2,250,000 list price. Adjust every assumption in the calculator below.
Beds
6
Baths
6.5
SqFt
6,251
Style
Single Family
Built
2018
There are homes that are beautifully renovated, and homes with history and soul. With an extensive 2018 gut renovation, 245 Summer Avenue offers the rare combination of both, blending timeless New England character, craftsmanship and architectural detail with the comfort and luxury of a thoughtful renovation. Designed for everyday living and entertaining, the home features generous gathering spaces, private retreats, a flexible main-level bedroom and nearly every bedroom with its own bath. Morning light fills the front office, creating an inviting place to work or begin the day. Outside, a spacious driveway and front yard provide room for bikes, hockey and play, while the private backyard offers a peaceful escape surrounded by mature landscaping and nature. Enjoy quiet mornings with coffee or relaxed evenings on the patio in remarkable privacy. Set among established homes in one of Reading’s most distinctive areas, the property feels tucked away yet remains close to schools, the town center and everyday conveniences. Sidewalks and beautiful surrounding streets encourage morning and evening walks, while nearby schools offer children a welcome sense of independence. Warm, elegant and designed to be lived in, 245 Summer Avenue pairs historic character with modern comfort, privacy and a lifestyle a new build simply cannot recreate.
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 6,251 sq ft principal dwelling). Lot size: 20,399 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.
Property Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Tankless Water Heater • Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer • Dryer • Range Hood • Plumbed For Ice Maker
Neighborhood
Public Transportation • Shopping • Park • Highway Access • House of Worship • Private School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First18 x 14
Flooring - Hardwood, Recessed Lighting, Crown Molding
Dining Room
Lvl First15 x 14
Beamed Ceilings, Flooring - Hardwood
Kitchen
Lvl First27 x 20
Flooring - Hardwood, Countertops - Stone/Granite/Solid, Kitchen Island, Exterior Access, Open Floorplan, Recessed Lighting, Slider, Gas Stove, Lighting - Pendant
Office
Lvl Third12 x 11
Flooring - Wall to Wall Carpet, Lighting - Overhead
Family Room
Lvl First27 x 13
Flooring - Hardwood, Recessed Lighting
Primary Bedroom
Lvl Second18 x 15
Bathroom - Full, Walk-In Closet(s), Flooring - Hardwood, Recessed Lighting, Lighting - Overhead
Bedroom 2
Lvl Second13 x 11
Bedroom 3
Lvl Second15 x 14
Bathroom - Full, Closet, Flooring - Hardwood, Lighting - Overhead
Bedroom 4
Lvl Second14 x 14
Bathroom - Full, Closet, Flooring - Hardwood, Lighting - Overhead
Bedroom 5
Lvl First18 x 12
Bathroom - Full, Walk-In Closet(s), Flooring - Hardwood, Lighting - Overhead
Bathroom 1
Lvl FirstBathroom - Half, Flooring - Hardwood
Bathroom 2
Lvl ThirdBathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile
Listing Agent: Druann Jedrey
Listing Office: Leading Edge Real Estate
MLS® Number: 73582131
