Active

62 Days on market

294 Water Street Wakefield — Photo 1 of 14

$569,000

294 Water Street, Wakefield, MA 01880

Wakefield, MA 01880

Beds

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)$441/sqft

8% AboveMarket Average

* Analysis is based on 19 actively listed and recently sold comparable properties strictly within Wakefield, MA.

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.

Full Wakefield, MA market report ZIP 01880 market data

Listing Provided By

Listing Agent: Margie Roberto

Listing Office: Classified Realty Group

MLS® Number: 73547039