Investment Analysis — 78 Forest St

Wakefield, MA 01880

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01880 carries an estimated $3,110/mo in gross rent — about a 3.79% cap rate and $28,362/yr in estimated NOI at the $749,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

SqFt

1,664

Style

Single Family

Built

1900

Welcome to 78 Forest Street, a beautifully updated Wakefield condo that captures the distinct charm, privacy, and character of its original Craftsman single-family roots. Featuring 3 spacious bedrooms, 2 full baths, and custom built-in closets throughout, this turn-key residence offers the complete independence and lifestyle of a standalone house. At the heart of the home, the light-filled, open eat-in kitchen showcases new cabinetry, sleek quartz countertops, and a cozy gas fireplace—flowing seamlessly out to a private deck. Beyond lies an expansive, tranquil backyard overlooking peaceful protected wetlands, complete with a fire pit area ideal for outdoor entertaining. The impressive main-level primary suite serves as a true private retreat, offering custom built-ins and a dedicated sitting room. Upstairs, you’ll find two well-proportioned bedrooms, a full ceramic tile bath, and a sun-filled flex space—perfect for a home office or a cozy reading nook. Finished with dedicated off-street parking and situated just steps from the commuter rail, this exceptional property delivers the authentic feel of single-family living paired with unbeatable modern luxury and location.

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: 832 sq ft (the lesser of 900 sq ft or half the 1,664 sq ft principal dwelling). Lot size: 28,501 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.