
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.
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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
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
Living Room
Lvl FirstFlooring - Wall to Wall Carpet, Window(s) - Bay/Bow/Box
Dining Room
Lvl FirstFlooring - Vinyl, Window(s) - Bay/Bow/Box
Kitchen
Lvl Main,FirstFlooring - Vinyl, Kitchen Island, Open Floorplan, Recessed Lighting
Primary Bedroom
Lvl FirstWalk-In Closet(s), Window(s) - Bay/Bow/Box, Lighting - Overhead
Bedroom 2
Lvl FirstBedroom 3
Lvl FirstCloset, Window(s) - Bay/Bow/Box
Bathroom 1
Lvl FirstBathroom - Half, Closet - Linen, Flooring - Vinyl, Dryer Hookup - Electric, Washer Hookup
Bathroom 2
Lvl SecondBathroom - Full, Bathroom - With Tub & Shower
Listing Agent: Todd Koss
Listing Office: Realty One Group Next Level
MLS® Number: 73565750