
341 Locust Street Danvers — Photo 1 of 42
$920,000
Investment Analysis — 341 Locust Street
Danvers, MA 01923
Based on HUD Small Area Fair Market Rent for Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area, a 3-bedroom in 01923 carries an estimated $3,230/mo in gross rent — about a 2.35% cap rate and $21,581/yr in estimated NOI at the $920,000 list price. Adjust every assumption in the calculator below.
Beds
3
Baths
2.5
SqFt
2,266
Style
Single Family
Built
1948
Some homes simply offer a place to live. Others offer a way to live. Tucked away from the road on more than ONE ACRE of land, 341 Locust Street welcomes you home with the kind of PRIVACY that's becoming increasingly hard to find. As you pull up the driveway, the world seems to slow down. The expansive front porch invites quiet mornings with a cup of coffee, long summer evenings with friends, and the simple pleasure of watching the seasons change. Every space has been designed for simple living. There is room to gather, room to work from home, and room to spread out. CENTRAL AIR keeps the home comfortable through the warmer months, while the mudroom, (with its thoughtful PET WASHING STATION) makes it easy to come home after muddy paws, gardening, or a walk along the nearby Danvers Rail Trail. Outside you'll quickly discover what truly makes this property exceptional. The impressive (approximately) 30' x 40' HEATED TWO-LEVEL BARN is far more than a garage. Whether you dream of restoring classic cars, building furniture, creating art, storing recreational equipment, or finally having the workshop you've always imagined, this remarkable space gives you the freedom to make it your own. Complete with a rear garage door and endless versatility, it's the kind of feature that rarely becomes available.The ATTACHED 2 CAR HEATED GARAGE offers everyday convenience, while the sprawling grounds provide space to garden, entertain, play, or simply enjoy the peace and quiet that comes with owning over an acre of land. Despite its sense of seclusion, you're never far from where you want to be. Spend weekends exploring Endicott Park, walking the trails at Choate Farm, biking the Danvers Rail Trail, or enjoying the shops and restaurants of downtown Danvers. With easy access to major commuter routes, this home offers both tranquility and connection. Locust Street isn't simply a property with a beautiful home and an extraordinary barn. It's a place where hobbies become passions, gatherings become traditions, and everyday moments become the ones you'll remember most. It's the kind of home that gives you the space to dream a little bigger, and the opportunity to truly enjoy the lifestyle you've been looking for.
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 2,266 sq ft principal dwelling). Lot size: 50,965 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
Neighborhood
Public Transportation • Shopping • Park • Walk/Jog Trails • Bike Path • Highway Access
Geography
Floorplan Breakdown
Structural Layout
Living Room
Lvl First16 x 12
Wood / Coal / Pellet Stove, Flooring - Wood, Deck - Exterior, Exterior Access
Dining Room
Lvl First12 x 9
Flooring - Wood, Window(s) - Bay/Bow/Box
Kitchen
Lvl First17 x 12
Kitchen Island, Stainless Steel Appliances, Gas Stove
Office
Lvl First12 x 10
Flooring - Wood
Family Room
Lvl Main,First17 x 17
Ceiling Fan(s), Flooring - Wood, French Doors
Primary Bedroom
Lvl Second20 x 20
Bathroom - Full, Ceiling Fan(s), Flooring - Wall to Wall Carpet
Bedroom 2
Lvl Second15 x 11
Bedroom 3
Lvl Second20 x 10
Ceiling Fan(s), Closet, Flooring - Wood
Bathroom 1
Lvl First11 x 8
Bathroom - Full, Flooring - Stone/Ceramic Tile
Bathroom 2
Lvl Second11 x 5
Bathroom - Full, Flooring - Stone/Ceramic Tile
Bathroom 3
Lvl Second5 x 3
Bathroom - Half
Listing Agent: Melanie Lentini
Listing Office: Leading Edge Real Estate
MLS® Number: 73558448