
29 Patterson Rd Lexington — Photo 1 of 37
$1,480,000
Investment Analysis — 29 Patterson Rd
Lexington, MA 02421
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02421 carries an estimated $5,560/mo in gross rent — about a 2.21% cap rate and $32,734/yr in estimated NOI at the $1,480,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
3
SqFt
3,240
Style
Single Family
Built
1953
Beautifully renovated Contemporary set on a private 0.59-acre lot in a desirable Lexington cul-de-sac neighborhood. This spacious 4-bedroom, 3-full-bath home offers a bright, flexible layout with hardwood floors, abundant natural light, and extensive updates throughout. The main level features an expansive fireplaced family room, dining room, living room, and kitchen with newer appliances. A distinctive upper-level living space showcases new floor-to-ceiling sound-insulated windows, upgraded sliders, custom cabinetry with sink, new hardwood floor and abundant recessed lighting. The bedroom level offers generously sized rooms with enlarged, upgraded sound-insulated windows, renovated baths, and new hardwood floors. The lower level has been thoughtfully reconfigured with a spacious bedroom/flex room, renovated full bath with shower, added laundry, and new flooring. Extensive improvements since 2021 include a new boiler, electrical upgrades, refinished and new hardwood floors, upgraded windows and doors, renovated bathrooms, recessed lighting throughout, and fresh interior and exterior paint. Outside, the removal of 20+ trees has opened up the property to significantly more natural light. A redesigned front entrance, new stone walkways, improved driveway and carport access, and a new pathway to the backyard enhance both curb appeal and everyday living. Conveniently located near Lexington schools, shopping, recreation, and major commuter routes.
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 3,240 sq ft principal dwelling). Lot size: 25,519 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
Water Heater • Range • Oven • Dishwasher • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Shopping • Walk/Jog Trails • Golf • Medical Facility • Highway Access • House of Worship
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First12 x 21
Flooring - Hardwood, Recessed Lighting, Lighting - Overhead
Dining Room
Lvl First12 x 15
Flooring - Stone/Ceramic Tile, Recessed Lighting
Kitchen
Lvl First11 x 16
Flooring - Stone/Ceramic Tile, Countertops - Upgraded, Kitchen Island, Recessed Lighting
Family Room
Lvl First26 x 34
Flooring - Hardwood, Recessed Lighting
Primary Bedroom
Lvl Second11 x 20
Bathroom - Full, Walk-In Closet(s), Flooring - Hardwood, Lighting - Overhead
Bedroom 2
Lvl Second11 x 11
Bedroom 3
Lvl Second13 x 15
Walk-In Closet(s), Flooring - Hardwood, Lighting - Overhead
Bedroom 4
Lvl Basement11 x 20
Closet, Flooring - Stone/Ceramic Tile, Lighting - Overhead
Bathroom 1
Lvl Second5 x 9
Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Lighting - Sconce
Bathroom 2
Lvl Second5 x 11
Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile, Double Vanity, Lighting - Sconce
Bathroom 3
Lvl Basement6 x 9
Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile
Listing Agent: Ning Sun
Listing Office: United Real Estate, LLC
MLS® Number: 73579017

