Investment Analysis — 56 Lake Sargent Dr

Leicester, MA 01524

Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a 3-bedroom in 01524 carries an estimated $2,040/mo in gross rent — about a 6.50% cap rate and $14,956/yr in estimated NOI at the $230,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,701

Style

Single Family

Built

1944

Enjoy beautiful views of Lake Sargent! This waterfront property offers a unique opportunity for contractors, investors, or buyers looking to create something truly special. Much of the demolition has already been completed, leaving the home as a blank canvas ready for the right vision. This fully recreational lakefront property is ready for a major renovation, with plans available. According to public records, the home features two levels, six rooms, three bedrooms, one bathroom, and approximately 1,700 square feet of living space situated on a .24-acre lakefront lot. Electric service is available at the street. The property is connected to sewer and formerly had propane heat. All agents must accompany their buyers. Please bring your own flashlight. The seller and listing agents have limited knowledge of the property. This is an AS-IS, CASH-ONLY sale, and the property does not qualify for conventional financing. Buyers and their agents are responsible for conducting their own due diligence prior to submitting an offer. If required, obtaining the smoke certificate will be the buyer's responsibility. Entry onto the property is at the buyer's and agent's own risk, as the home is vacant and portions of the interior have been demolished. The property is currently assessed by the town at $310,000 in its present condition. Bring your vision and transform this lakefront property into something extraordinary!

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: 851 sq ft (the lesser of 900 sq ft or half the 1,701 sq ft principal dwelling). Lot size: 10,276 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.