7 Pilgrim Rd Reading — Photo 1 of 23
$799,000
Investment Analysis — 7 Pilgrim Rd
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 2.57% cap rate and $20,506/yr in estimated NOI at the $799,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2
SqFt
1,819
Style
Single Family
Built
1941
Coming to market for the first time in 25 years, this meticulously cared-for Cape is a rare find. Original 1940s charm meets fresh updates throughout, with brand-new paint and beautifully refinished hardwood floors ready to welcome its next owners. The first floor offers a warm, functional layout with a kitchen, dining room, and a living room anchored by a gorgeous fireplace, plus a full bath and a spacious screened-in deck perfect for three-season enjoyment. The lower level adds valuable flexible space, including an open bonus area, full bath, and office- ideal for guests, work-from-home, or extended living. Upstairs, two comfortable bedrooms complete the home. Set on a coveted double lot- a true rarity in Reading. This property offers exceptional green space and future expansion potential. Move right in and enjoy, or make it your own-the opportunity here is one you won't want to miss.
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 1,819 sq ft principal dwelling). Lot size: 14,401 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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Water Heater • Range • Dishwasher • Disposal • Microwave • Refrigerator • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Walk/Jog Trails • House of Worship • Public School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstDining Room
Lvl FirstKitchen
Lvl FirstOffice
Lvl BasementFamily Room
Lvl FirstPrimary Bedroom
Lvl FirstBedroom 2
Lvl SecondBedroom 3
Lvl SecondBathroom 1
Lvl FirstBathroom 2
Lvl BasementListing Agent: Charlotte Press
Listing Office: Compass
MLS® Number: 73584175
