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38 Park Ave Reading — Photo 1 of 28

38 Park Ave Reading — Photo 1 of 28

$649,900

Investment Analysis — 38 Park Ave

Reading, MA 01867

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01867 carries an estimated $3,470/mo in gross rent — about a 3.64% cap rate and $23,659/yr in estimated NOI at the $649,900 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

2

SqFt

2,094

Style

Single Family

Built

1960

Ideally located, 38 Park Avenue offers an exciting opportunity to create a home that reflects your personal style. Nestled toward the end of a dead-end street, this inviting home sits on a flat 0.24-acre lot, immediately adjacent to conservation land with scenic trails. Step inside to a welcoming fireplaced living room that flows seamlessly into the kitchen and dining area. The main level features a primary suite, an additional bedroom, a full bathroom, and a bright three-season sunroom. Upstairs, you’ll find two additional bedrooms and another full bathroom. The lower level provides excellent potential for expanded living space, featuring plumbing for an additional bathroom, a bar area, and a dedicated laundry space. To top it off, this property is located in an amazing commuter location with MBTA access and major highway routes. Bring your vision and unlock the full potential of this inviting property! *Offer Deadline: Tuesday 09/22/2026 at 12:00 noon.*

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 2,094 sq ft principal dwelling). Lot size: 10,476 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$649,900
Annual Taxes$7,987

Parking

Garage0
Off-Street4

Interior Specifications

Total Rooms6
Fireplaces1
FlooringTile, Hardwood
BasementPartial

Climate & Utilities

HeatingBaseboard, Natural Gas
CoolingWindow Unit(s)
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningS15

Property & Lot

Acres0.24
SqFt Lot10,476
Lot Features--

Amenities & Appliances

Gas Water Heater • Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer

Neighborhood

Public Transportation • Walk/Jog Trails • Highway Access • Public School

Geography

Floorplan Breakdown

Structural Layout

Second
Bedroom 3Bedroom 4Bathroom 2
First
Living RoomDining RoomKitchenPrimary BedroomBedroom 2Bathroom 1
Living Room
Lvl First
Dining Room
Lvl First
Kitchen
Lvl First
Primary Bedroom
Lvl First
Bedroom 2
Lvl First
Bedroom 3
Lvl Second
Bedroom 4
Lvl Second
Bathroom 1
Lvl First
Bathroom 2
Lvl Second
Listing Provided By

Listing Agent: Santana Team

Listing Office: Keller Williams Realty Boston Northwest

MLS® Number: 73577945