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29 Days on market
24 Prospect Rd Andover — Photo 1 of 26

24 Prospect Rd Andover — Photo 1 of 26

$775,000

Investment Analysis — 24 Prospect Rd

Andover, MA 01810

Based on HUD Small Area Fair Market Rent for Lawrence, MA-NH HUD Metro FMR Area, a 3-bedroom in 01810 carries an estimated $3,530/mo in gross rent — about a 3.23% cap rate and $25,066/yr in estimated NOI at the $775,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

3

Baths

1.5

SqFt

1,440

Style

Single Family

Built

1948

Beautifully updated 3 bedroom colonial, just minutes from downtown Andover. This cute and quaint private oasis on a corner lot has been given a fantastic makeover inside and out. Enter into the three season porch where you can enjoy a meal, get some work done, or share an evening cocktail with friends. Step inside to the fresh, bright, and updated kitchen with newer stainless steel appliances including a gas range, double sink, and great view of the backyard. The kitchen opens up to the large and sunny dining room. The oversize living room has plenty of space to hang out, watch TV, set up an office or a reading nook. A half bath and laundry area round out the first floor. Upstairs, are 3 bedrooms, with closets, and a full bath. Outside, just a step down from the screened in porch is a beautiful sitting patio. Another step down is the level, fenced in backyard, ready for playing, hosting, or relaxing. Newly painted and a new roof make the exterior fresh and complete. A new heat pump, tankless water heater, and Central Air condition take all the worry out of your mechanical systems. Less that 2 miles from downtown Andover, less than 5 Miles to 495 or 93, and set within the boundary of Ward Reservation with miles of trails for hiking or mountain biking just steps up the road , this location can’t be beat for taking advantage of all that Andover has to offer. Ready for immediate occupancy.

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: 720 sq ft (the lesser of 900 sq ft or half the 1,440 sq ft principal dwelling). Lot size: 12,049 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.

Property Details

Financials

Original Price$775,000
Annual Taxes$7,128

Parking

Garage2
Off-Street6

Interior Specifications

Total Rooms7
Fireplaces1
FlooringWood, Vinyl, Carpet
BasementFull, Concrete

Climate & Utilities

HeatingForced Air, Heat Pump, Floor Furnace, Propane
CoolingCentral Air, Heat Pump
WaterPublic
SewerPrivate Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter, Granite
ZoningSRC

Property & Lot

Acres0.28
SqFt Lot12,049
Lot FeaturesCorner Lot, Level

Amenities & Appliances

Water Heater • Tankless Water Heater • Range • Dishwasher • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Shopping • Park • Walk/Jog Trails • Golf • Medical Facility

Geography

Floorplan Breakdown

Structural Layout

Second
Bathroom 2
First
Living RoomDining RoomPrimary BedroomBedroom 2Bedroom 3Bathroom 1
Main,First
Kitchen
Living Room
Lvl First

Flooring - Wall to Wall Carpet, Window(s) - Bay/Bow/Box

Dining Room
Lvl First

Flooring - Vinyl, Window(s) - Bay/Bow/Box

Kitchen
Lvl Main,First

Flooring - Vinyl, Kitchen Island, Open Floorplan, Recessed Lighting

Primary Bedroom
Lvl First

Walk-In Closet(s), Window(s) - Bay/Bow/Box, Lighting - Overhead

Bedroom 2
Lvl First
Bedroom 3
Lvl First

Closet, Window(s) - Bay/Bow/Box

Bathroom 1
Lvl First

Bathroom - Half, Closet - Linen, Flooring - Vinyl, Dryer Hookup - Electric, Washer Hookup

Bathroom 2
Lvl Second

Bathroom - Full, Bathroom - With Tub & Shower

Listing Provided By

Listing Agent: Todd Koss

Listing Office: Realty One Group Next Level

MLS® Number: 73565750