397 Mechanic St Leominster — Photo 1 of 15
$354,900
Investment Analysis — 397 Mechanic St
Leominster, MA 01453
Based on HUD Small Area Fair Market Rent for Worcester, MA HUD Metro FMR Area, a 3-bedroom in 01453 carries an estimated $2,380/mo in gross rent — about a 4.74% cap rate and $16,824/yr in estimated NOI at the $354,900 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2.5
SqFt
1,336
Style
Single Family
Built
1900
Welcome home to this charming 3-bedroom, 2.5 -bath home conveniently located in Leominster, property just had a new roof installed and is ready for its next owner, has more to offer come see
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: 668 sq ft (the lesser of 900 sq ft or half the 1,336 sq ft principal dwelling). Lot size: 17,312 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 MLS and other third-party data may be inaccurate or out of date.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
Parking
Interior Specifications
Climate & Utilities
Building & Exterior
Property & Lot
Amenities & Appliances
Water Heater • Range • Refrigerator
Neighborhood
Public Transportation • Shopping • Park • Medical Facility • Laundromat • Bike Path
Geography
Listing Agent: Luis Ayala
Listing Office: One Stop Realty
MLS® Number: 73580852