Active
42 Days on market
294 Water Street Wakefield — Photo 1 of 14
$569,000
294 Water Street, Wakefield, MA 01880
Wakefield, MA 01880
Beds
2
Baths
1.5
SqFt
1,195
Style
Single Family
Built
1925
MIX USE opportunity awaits! Choose your own path: rental income, commercial income or make it your own beautiful home! Is a low maintenance backyard one of your check off boxes? Here it is. Imagine creating your own outdoor space with greenery, florals and a gorgeous patio! Street front Unit 1 has been rented to small businesses in the past. It is a spacious size unit, steps up to second room that has a 1/3 bath and storage area off to the left. Unit 2 is a quaint, easy to take care of two bedroom, living and kitchen apartment with archways to give this space character. Get creative with this property! Make appointment today to view what it has to offer.
Market Value Analysis
This Property
Size (SqFt) →Price →This Property$476/sqft
Local Avg (Wakefield)$404/sqft
18% AboveMarket Average
* Analysis is based on 23 actively listed and recently sold comparable properties strictly within Wakefield, MA.
Property Details
Financials
Original Price$569,000
Annual Taxes$7,724.45
Parking
Garage0
Off-Street2
Interior Specifications
Total Rooms6
FireplacesNone
FlooringTile, Vinyl, Carpet
BasementUnfinished
Climate & Utilities
HeatingForced Air, Natural Gas
CoolingWall Unit(s), 3 or More
WaterPublic
SewerPublic Sewer
Building & Exterior
ConstructionFrame
RoofShingle, Rubber
FoundationStone
ZoningSR
Property & Lot
Acres0.07
SqFt Lot3,058
Lot FeaturesGentle Sloping
Amenities & Appliances
Electric Water Heater • Water Heater • Range • Disposal
Neighborhood
Public Transportation • Shopping • Park • Bike Path • Highway Access • House of Worship
Geography
Property History
Listed
$569,000
Jul 9, 2026
MLS® 73547039
Listed
$569,000
Jul 9, 2026
MLS® 73547044
Population
27,793
U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)
Median Household Income
$134K
U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)
Renter-Occupied Homes
29.3%
U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)
New Construction Permits — Middlesex County
2,667 housing units permitted in the last 12 months (-2% vs the prior 12 months) — 1,709 in 5+ unit buildings
U.S. Census Bureau, Building Permits Survey (through Jun '26)
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: 598 sq ft (the lesser of 900 sq ft or half the 1,195 sq ft principal dwelling). Lot size: 3,058 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.
Listing Provided By
Listing Agent: Margie Roberto
Listing Office: Classified Realty Group
MLS® Number: 73547039
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