Active
2 Days on market
514 Water St Wakefield — Photo 1 of 42

514 Water St Wakefield — Photo 1 of 42

$2,375,000

Investment Analysis — 514 Water St

Wakefield, MA 01880

Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 4-bedroom in 01880 carries an estimated $3,430/mo in gross rent — about a 0.81% cap rate and $19,233/yr in estimated NOI at the $2,375,000 list price. Adjust every assumption in the calculator below.

View Standard Listing

Beds

4

Baths

5

SqFt

6,211

Style

Single Family

Built

2024

Architecturally striking new construction defined by bold design, meticulous craftsmanship and a sophisticated modern aesthetic. This 4 bedroom, 4.5 bath home pairs dramatic architectural moments with exceptional attention to detail, including custom millwork and thoughtfully integrated accent lighting throughout. A two story foyer makes an immediate impression with a floating staircase and floor to ceiling windows. The matte black kitchen makes a bold statement with induction cooking, a substantial center island, wall oven, microwave drawer, chrome hardware, toe kick and under cabinet lighting, and a dramatic illuminated tray ceiling. Multi slide pocket doors disappear into the walls, completely opening the interior to a covered outdoor living space with TV and a grilling station equipped with a Green Egg smoker and sink. Beyond, an expansive landscaped lawn extends to a wooded backdrop, creating a private setting. Open living and dining areas extend to a sundrenched family room, while a front office and thoughtfully designed mudroom with direct access to the attached three car garage add function to the layout. Upstairs, 9 foot ceilings continue through four bedrooms, including an impressive primary suite with oversized picture windows, an expansive walk in closet and an ensuite bath featuring a double vanity, soaking tub and oversized dual shower. A secondary bedroom with ensuite bath opens directly to the wraparound roof deck The finished lower level offers an expansive family room with an 8 foot illuminated tray ceiling, built in beverage center and layered accent lighting. A dedicated home gym with turf provides a separate fitness space, while a framed in law suite offers the potential for a kitchen, bedroom and bath with private egress. Endless off street parking. Ideally located less than a mile from both Woodville School and Wakefield Memorial High School, with easy access to Breakheart Reservation, MarketStreet Lynnfield and major routes.

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 6,211 sq ft principal dwelling). Lot size: 46,688 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.

Open Houses

Property Details

Financials

Original Price$2,375,000
Annual Taxes$12,049

Parking

Garage3
Off-Street11

Interior Specifications

Total Rooms12
Fireplaces1
FlooringTile, Hardwood, Flooring - Hardwood, Flooring - Stone/Ceramic Tile, Flooring - Vinyl
BasementFull, Partially Finished, Walk-Out Access, Interior Entry, Garage Access, Bulkhead, Concrete

Climate & Utilities

HeatingCentral
CoolingCentral Air
WaterPublic
SewerPublic Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningRES

Property & Lot

Acres1.07
SqFt Lot46,688
Lot FeaturesLevel

Amenities & Appliances

Electric Water Heater • Range • Dishwasher • Microwave • Refrigerator

Neighborhood

Shopping • Highway Access • House of Worship • Public School

Geography

Floorplan Breakdown

Structural Layout

Second
Primary BedroomBedroom 2Bedroom 3Bedroom 4Bathroom 2Bathroom 3
First
Living RoomDining RoomKitchenOfficeFamily RoomBathroom 1
Living Room
Lvl First

19.583333333 x 20.416666666

Flooring - Hardwood, Recessed Lighting

Dining Room
Lvl First

17.416666666 x 15.25

Flooring - Hardwood, Recessed Lighting, Lighting - Pendant

Kitchen
Lvl First

23.583333333 x 19.166666666

Flooring - Hardwood, Countertops - Stone/Granite/Solid, Lighting - Pendant

Office
Lvl First

10.666666666 x 10.416666666

Flooring - Hardwood

Family Room
Lvl First

21.5 x 11.583333333

Flooring - Hardwood, Recessed Lighting

Primary Bedroom
Lvl Second

23.25 x 16.166666666

Bathroom - Full, Bathroom - Double Vanity/Sink, Walk-In Closet(s), Closet/Cabinets - Custom Built, Flooring - Hardwood, Window(s) - Bay/Bow/Box, Recessed Lighting, Lighting - Sconce

Bedroom 2
Lvl Second

12.916666666 x 12.583333333

Bedroom 3
Lvl Second

10.083333333 x 14.833333333

Closet, Flooring - Hardwood, Recessed Lighting

Bedroom 4
Lvl Second

19.25 x 26.583333333

Closet, Flooring - Hardwood, Flooring - Wood, Deck - Exterior

Bathroom 1
Lvl First

6.25 x 8.833333333

Bathroom 2
Lvl Second

10.666666666 x 18.333333333

Bathroom - Full, Bathroom - Double Vanity/Sink, Bathroom - Tiled With Tub & Shower, Bathroom - With Shower Stall, Bathroom - With Tub, Flooring - Stone/Ceramic Tile

Bathroom 3
Lvl Second

10.916666666 x 7.166666666

Bathroom - Full, Bathroom - Tiled With Tub & Shower, Flooring - Stone/Ceramic Tile

Listing Provided By

Listing Agent: The Synergy Group

Listing Office: The Synergy Group

MLS® Number: 73579513