Active

46 Days on market

97 Melendy Ave #97 Watertown — Photo 1 of 40

$869,900

Investment Analysis — 97 Melendy Ave #97

Watertown, MA 02472

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02472 carries an estimated $3,850/mo in gross rent — about a 3.67% cap rate and $31,929/yr in estimated NOI at the $869,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

Baths

1.5

SqFt

1,873

Style

Single Family

Built

1910

Beautifully renovated spacious half-duplex with no condo fees. You'll get the feel of single-family living here, with exclusive use of the side yard and your own brand-new driveway. This home offers the perfect blend of character with modern updates and flexible living space. Three completely new finished levels plus your own private basement storage. Improvements include a beautiful new kitchen with stainless appliances, gas stove, quartz counters, an extra-deep sink, and warm cabinetry. Sun-filled living room with high ceilings, ceiling fan, and a mini-split system for year-round comfort, flowing into a beautiful dining room perfect for entertaining. New baths, new flooring, new windows, new lighting, mini-splits. The second floor offers a spacious primary bedroom and an impressive spa-inspired bath with double vanities, a soaking tub, and a separate shower. A generously sized second bedroom and an additional versatile bonus space provide endless possibilities for a home office, custom walk-in closet, reading nook, or exercise area. The third level features yet another spacious bedroom with high ceilings and a bonus flex room, ideal as a 4th bedroom, guest suite, office, or WFH space. Outside, enjoy a fully fenced level yard with an extra-large paver patio, gorgeous perennials, garden space, grape trellis, and raised beds in the private front yard space. Additional highlights include a brand-new on-demand hot water heater, an approximately 10-year-old boiler (gas heat) -and a 2-year transferable builder's warranty. No HOA or condo fee; each side splits the master insurance policy. Ideally located just minutes from vibrant Arsenal Yards, offering an exciting mix of restaurants, shopping & entertainment. Close to the Charles River Greenway and bike path, with easy access to Watertown Square, the Mass Pike, Storrow Drive, Cambridge, downtown Boston, public transportation & parks!

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 1,873 sq ft principal dwelling). Lot size: 9,999 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.