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38 Fairmount Road Reading — Photo 1 of 35

38 Fairmount Road Reading — Photo 1 of 35

$1,125,000

Investment Analysis — 38 Fairmount Road

Reading, MA 01867

Based on HUD Small Area Fair Market Rent, a 4-bedroom in 01867 carries an estimated $7,900/mo in gross rent — about a 5.68% cap rate and $63,844/yr in estimated NOI at the $1,125,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

1.5

SqFt

1,908

Style

Single Family

Built

1941

Welcome home to a place that feels like an escape from the moment you arrive. Set on a large, private, wooded lot, this beautifully updated 4-bedroom home offers the peace and privacy you’ve been looking for, while keeping you just minutes from everything you love about Reading. Brand-new siding and windows give the home a fresh, polished feel and make moving in truly effortless. Inside, the open-concept main level is designed for real life—morning coffee in the renovated kitchen, dinners together in the dedicated dining area, and cozy nights relaxing in the spacious living room. A flexible bonus space gives you the perfect spot for a playroom, home office, or quiet sitting area. Upstairs, four comfortable bedrooms provide plenty of room to settle in and grow, along with a beautifully updated full bath. But you may find yourself spending the most time out back. Enjoy summer dinners on the deck, slow mornings on the screened porch, and peaceful evenings surrounded by trees in your own private backyard retreat. With a 2-car garage, additional storage, and easy access to the commuter rail, Routes 28, 93 and 95, shops, restaurants, and ice cream runs to Cal’s, this is the kind of home that makes everyday life feel a little easier—and a lot more enjoyable.

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 1,908 sq ft principal dwelling). Lot size: 14,266 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.

Open Houses

Property Details

Financials

Original Price$1,125,000
Annual Taxes$8,204

Parking

Garage2
Off-Street6

Interior Specifications

Total Rooms7
Fireplaces2
FlooringHardwood, Flooring - Stone/Ceramic Tile, Flooring - Hardwood
BasementFull

Climate & Utilities

HeatingBaseboard, Natural Gas
CoolingCentral Air, Ductless
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningS15

Property & Lot

Acres0.33
SqFt Lot14,266
Lot FeaturesWooded

Amenities & Appliances

Gas Water Heater • Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Park • Walk/Jog Trails • Highway Access • Private School

Geography

Floorplan Breakdown

Structural Layout

Second
Primary BedroomBedroom 2Bedroom 3Bedroom 4Bathroom 2
First
Living RoomDining RoomKitchen
Main,First
Bathroom 1
Living Room
Lvl First

Flooring - Hardwood

Dining Room
Lvl First

Flooring - Hardwood, Window(s) - Picture

Kitchen
Lvl First

Flooring - Hardwood, Dining Area, Countertops - Stone/Granite/Solid, Recessed Lighting

Primary Bedroom
Lvl Second

Ceiling Fan(s), Closet, Flooring - Hardwood

Bedroom 2
Lvl Second
Bedroom 3
Lvl Second

Closet, Flooring - Hardwood

Bedroom 4
Lvl Second

Closet, Flooring - Hardwood

Bathroom 1
Lvl Main,First

Bathroom - Half

Bathroom 2
Lvl Second

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile

Property History

Listed
$1,125,000

Sep 30, 2026

MLS® 73584263

Sold
$1,025,000

Jun 23, 2025

MLS® 73392856

Listed
$899,900

Jun 18, 2025

MLS® 73392856

Listing Provided By

Listing Agent: The Kennedy Team

Listing Office: Classified Realty Group

MLS® Number: 73584263