1187 South St. Needham — Photo 1 of 40
$1,375,000
Investment Analysis — 1187 South St.
Needham, MA 02492
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 02492 carries an estimated $4,320/mo in gross rent — about a 1.93% cap rate and $26,539/yr in estimated NOI at the $1,375,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
4
SqFt
2,300
Style
Single Family
Built
1981
Unique opportunity for a home buyers, builders or investors to get a property on over an acre private level lot of prime real estate in a most sought after Needham locale. Sunny and spacious split level ranch with an amazing In-Law suite offers a flexible space and endless possibilities. Brand new custom design Eat-In kitchen with granite counters is a chef's delight . It adjoins seamlessly with a formal Dining room leading to a porch overlooking manicured grounds with an over an acre of land and beautiful exposed stone areas. Huge Living Room with a picture window and cozy fireplace. Excellent size bedrooms. Gleaming hardwood floors throughout. Some newer windows. Oversized lower level family room offers a wood burning stove and leads to a private deck. New Buderus boiler , state of art heating system with on demand hot water in 70 gallon storage tank. 2 car garage. Newley paved driveway with lots of parking spaces. Enjoy the convenience of Needham living with excellent school system, public transportation, medical facilities, walking trails and easy highway access.
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 2,300 sq ft principal dwelling). Lot size: 51,836 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 Details
Financials
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Gas Water Heater • Range • Dishwasher • Refrigerator • Washer • Dryer • Range Hood
Neighborhood
Public Transportation • Shopping • Pool • Tennis Court(s) • Park • Walk/Jog Trails
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl Main,Second22 x 13
Flooring - Hardwood, Window(s) - Picture, Open Floorplan, Remodeled
Dining Room
Lvl Main,Second10 x 12
Flooring - Hardwood, Balcony / Deck, Open Floorplan, Remodeled
Kitchen
Lvl Main,Second11 x 13
Flooring - Stone/Ceramic Tile, Flooring - Laminate, Dining Area, Pantry, Countertops - Stone/Granite/Solid, Countertops - Upgraded, Cabinets - Upgraded, Country Kitchen, Remodeled, Stainless Steel Appliances, Lighting - Pendant, Lighting - Overhead
Family Room
Lvl First26 x 20
Exterior Access, Open Floorplan
Primary Bedroom
Lvl Main,Second14 x 12
Bathroom - Full, Closet, Flooring - Hardwood, Lighting - Overhead
Bedroom 2
Lvl Main,Second12 x 12
Bedroom 3
Lvl Main,Second12 x 12
Closet, Flooring - Hardwood, Lighting - Overhead
Listing Agent: Darryl Garvin
Listing Office: Garvin Real Estate Group
MLS® Number: 73579422
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