3 Palmer Hill Avenue Reading — Photo 1 of 42
$815,000
Investment Analysis — 3 Palmer Hill Avenue
Reading, MA 01867
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01867 carries an estimated $3,140/mo in gross rent — about a 2.46% cap rate and $20,047/yr in estimated NOI at the $815,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
3
SqFt
1,600
Style
Single Family
Built
1950
Welcome to 3 Palmer Hill Ave, offering a UNIQUE AND VERSATILE FLOOR PLAN with three generously sized bedrooms and THREE BEAUTIFULLY UPDATED FULL BATHROOMS. A standout feature is the spacious FIRST-FLOOR PRIMARY EN SUITE, complete with an updated private bath featuring a BRAND NEW TILED SHOWER, LARGE WALK-IN CLOSET, and convenient FIRST-FLOOR LAUNDRY. The kitchen features GRANITE COUNTERTOPS and STAINLESS STEEL APPLIANCES with easy access to the home’s living and dining spaces. Upstairs, a FULL SHED DORMER creates two exceptionally spacious bedrooms along with an additional updated full bathroom. The flexible layout provides plenty of room for comfortable everyday living while offering the convenience of a first-floor primary suite. Ideally situated in a desirable Reading location convenient to SCHOOLS, MAJOR COMMUTER ROUTES, DOWNTOWN READING, shopping, dining, and the COMMUTER RAIL. A wonderful opportunity for buyers looking for GENEROUS BEDROOM SIZES, UPDATED BATHS, and a thoughtfully designed floor plan in a convenient location.
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: 800 sq ft (the lesser of 900 sq ft or half the 1,600 sq ft principal dwelling). Lot size: 6,434 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
Dishwasher • Refrigerator
Neighborhood
Public Transportation • Shopping • Tennis Court(s) • Park • Medical Facility • Laundromat
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,First19 x 11
Flooring - Hardwood
Dining Room
Lvl Main,First13 x 10
Flooring - Hardwood, Lighting - Overhead
Kitchen
Lvl Main,First14 x 9
Flooring - Hardwood, Countertops - Stone/Granite/Solid, Recessed Lighting, Remodeled
Primary Bedroom
Lvl Main,First17 x 12
Bathroom - Full, Walk-In Closet(s), Flooring - Hardwood
Bedroom 2
Lvl Second19 x 13
Bedroom 3
Lvl Second19 x 12
Closet, Flooring - Hardwood
Bathroom 1
Lvl Main,First6 x 6
Bathroom - Full, Bathroom - Tiled With Shower Stall, Flooring - Stone/Ceramic Tile, Remodeled
Bathroom 2
Lvl Main,First6 x 6
Bathroom - Full, Bathroom - Tiled With Tub, Flooring - Stone/Ceramic Tile, Remodeled
Bathroom 3
Lvl Second6 x 5
Bathroom - Full, Bathroom - Tiled With Tub, Flooring - Stone/Ceramic Tile
Listing Agent: Katie Varney
Listing Office: Classified Realty Group
MLS® Number: 73584250
