
61 Lowell St Reading — Photo 1 of 42
$875,000
Investment Analysis — 61 Lowell St
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 2.63% cap rate and $23,003/yr in estimated NOI at the $875,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
2
SqFt
1,769
Style
Single Family
Built
1910
The Charles A. Damon House, Reading, MA Own a piece of Reading history: built in 1899, individually eligible for the National Register of Historic Places, and steps from everything downtown Reading has to offer. A grand staircase and elegant front hall with high ceilings set the tone at the entry. Inside, 10-foot ceilings, crown moldings, hardwood floors, and original cast iron radiators carry the home's character through the main level, with built-in cabinetry in the dining room. The updated kitchen features granite countertops and cherry cabinets. Four bedrooms and two full bathrooms are spread across roughly 1,800 square feet. Bedrooms are outfitted with ceiling fans throughout, and one of the second-floor bedrooms features a wood-burning fireplace and etched glass windows, and could easily serve as a family room. Bathrooms have tiled walls and updated finishes, including a generous second-floor bath with a jacuzzi soaking tub. Recent updates include a newly replaced boiler, new copper plumbing in the basement, a new refrigerator, and 200-amp electric service, home security system and water heater. A fieldstone basement keeps the lower level naturally cool. Outside, a covered farmer's porch and mahogany deck extend the living space on a low-maintenance 0.09-acre lot.The location is the finish: just 0.4 miles to the Reading commuter rail station, about a mile to Reading Memorial High School, and less than 1.5 miles to Joshua Eaton Elementary, Barrows Elementary, and Sawyer Nursery School, with downtown's shops and restaurants an easy walk as well. In a town where inventory moves fast, well-kept historic homes rarely sit long. A Queen Anne/Colonial Revival with a gambrel roof, hip and polygonal dormers, a three-sided bay window, Doric columns, and a modillion cornice. 61 Lowell Street is history you can move into. Available to show now.
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: 885 sq ft (the lesser of 900 sq ft or half the 1,769 sq ft principal dwelling). Lot size: 3,925 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.
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Property History
$875,000
Sep 15, 2026
MLS® 73577458
$889,900
Nov 7, 2025
MLS® 73437901
$889,900
Oct 1, 2025
MLS® 73437901
$445,000
Jun 19, 2011
MLS® 71199384
$449,900
Mar 14, 2011
MLS® 71199384
Listing Agent: Mary Beth Kelley
Listing Office: Keller Williams Realty Boston-Metro | Back Bay
MLS® Number: 73577458