Investment Analysis — 352 Lake Ave.

Worcester, MA 01604

Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a 3-bedroom in 01604 carries an estimated $2,790/mo in gross rent — about a 2.52% cap rate and $16,502/yr in estimated NOI at the $655,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

2,296

Style

Single Family

Built

1988

Need space for aging parents, adult children, long-term guests, or an au pair? This rare Colonial offers a private in-law suite with its own living room, kitchenette, bedroom, full bath, and separate entrance, creating the perfect blend of independence and connection. The main home features a welcoming open-concept first floor with combined living and dining areas, along with a spacious eat-in kitchen complete with a center island and warm country charm. Upstairs, you'll find two generously sized bedrooms and a full bath. Designed for flexibility and multi-generational living, the in-law suite provides comfortable, self-contained living while remaining connected to the main residence, making it ideal for extended family, guests, or a private home office setup. A charming front porch spans the home, offering the perfect place to relax and enjoy the outdoors. The detached two-car garage provides ample parking and additional storage space. Recent updates include a new furnace, central air conditioning, and a Dry Zone basement system with sump pump, offering added peace of mind for years to come. Conveniently located near UMass Medical, major routes, Commuter Rail, shopping, dining, and everyday amenities, this unique property combines character, versatility, and important modern updates in a highly desirable package.

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 2,296 sq ft principal dwelling). Lot size: 32,829 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.