Investment Analysis — 523 Greendale Ave

Needham, MA 02492

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 02492 carries an estimated $4,770/mo in gross rent — about a 2.73% cap rate and $32,716/yr in estimated NOI at the $1,199,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

2,448

Style

Single Family

Built

1978

Welcome to 523 Greendale Ave! Set back from the road in Needham’s desirable Mitchell School district, this spacious raised ranch offers 4 bedrooms, 3 updated full baths, and a versatile layout with room to fit a variety of needs. The primary bedroom features an en-suite bath, while multiple bonus spaces provide flexibility for a home office, gym, playroom, media room, or guest space. The lower level offers additional living space and potential for an in-law setup. Both the living room and family room feature inviting fireplaces with original mantels, adding warmth and character. At the heart of the home is a large, updated kitchen with plenty of space for cooking and entertaining, complemented by both formal and informal dining areas. Enjoy peaceful wooded views from the kitchen, dining area, and sunroom/office, creating a tucked-away feel while still being close to everything Needham has to offer. Additional highlights include a whole-home water filtration system, one-car garage, 200-amp electrical service with updated Leviton panel, and EV charger. Conveniently located near Needham Center, schools, commuter rail, and Route 128.

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 2,448 sq ft principal dwelling). Lot size: 10,225 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.