
40 Heritage Ave Ashland — Photo 1 of 42
$1,150,000
Investment Analysis — 40 Heritage Ave
Ashland, MA 01721 — Heritage Estates
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01721 carries an estimated $4,330/mo in gross rent — about a 2.40% cap rate and $27,591/yr in estimated NOI at the $1,150,000 list price. Adjust every assumption in the calculator below.
Beds
4
Baths
2.5
SqFt
3,076
Style
Single Family
Built
1995
Located in the Heritage Estates neighborhood, sits this absolutely stunning 4 bedroom colonial with gorgeous curb appeal. Close to everything including the train station, state park, highway access, and more! New composite deck off the back that overlooks a nice backyard with wooded views! Eat-in kitchen with granite counters, cherry cabinets, and center island, opens right up to the family room with fireplace and skylights! The living room is currently being used as a perfect home office with french doors! An updated half bath, gleaming hardwood floors, and a formal dining room round out the 1st floor. The 2nd level has 4 spacious bedrooms including the primary with a walk-in closet and the bathroom of your dreams with a custom marble vanity, double sinks, stand alone clawfoot soaking tub, cathedral ceilings, skylight and large walk-in shower! Down the hall is a large unfinished bonus room, currently being used for storage, that can easily be finished for added living space! The hall bath has been beautifully updated! And now for the finished walkout basement that has an office space with built-ins, large window seat with storage, and a home theater movie room with built-in speakers! Pride of ownership abounds in this well maintained home!
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 3,076 sq ft principal dwelling). Lot size: 45,246 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 • Water Heater • Range • Dishwasher • Disposal • Microwave • Refrigerator • Freezer • Washer • Dryer
Neighborhood
Public Transportation • Shopping • Park • Medical Facility • Highway Access • Public School
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl FirstFlooring - Hardwood, French Doors
Dining Room
Lvl FirstFlooring - Hardwood
Kitchen
Lvl FirstFlooring - Hardwood, Dining Area, Countertops - Stone/Granite/Solid, Kitchen Island
Family Room
Lvl FirstSkylight, Flooring - Hardwood
Primary Bedroom
Lvl SecondBathroom - Full, Walk-In Closet(s), Flooring - Wall to Wall Carpet
Bedroom 2
Lvl SecondBedroom 3
Lvl SecondFlooring - Wall to Wall Carpet
Bedroom 4
Lvl SecondFlooring - Wall to Wall Carpet
Bathroom 1
Lvl FirstBathroom - Half, Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid
Bathroom 2
Lvl SecondBathroom - Full, Flooring - Marble, Countertops - Stone/Granite/Solid
Bathroom 3
Lvl SecondBathroom - Full, Skylight, Cathedral Ceiling(s), Flooring - Stone/Ceramic Tile, Countertops - Stone/Granite/Solid, Double Vanity, Pocket Door, Soaking Tub
Listing Agent: Craig Morrison
Listing Office: Realty Executives Boston West
MLS® Number: 73578668

