Active
15 Days on market
38 Lake St Spencer — Photo 1 of 27

38 Lake St Spencer — Photo 1 of 27

Recent Drop: $16,900

$514,900
$498,000

$498,000

38 Lake St, Spencer, MA 01562

Spencer, MA 01562

Beds

4

Baths

2.5

SqFt

2,224

Style

Single Family

Built

2005

Private 4-BR Colonial by Luther Hill Park Spacious 8-room Colonial on a private, elevated hill lot at the end of a dead-end street. Backyard directly borders and accesses Luther Hill Park for beach swimming, lifeguards, fishing, kayaking, canoeing, bicycling, and live entertainment. Main floor features a large eat-in kitchen with a center island, dedicated laundry room, formal dining room, living room, and a massive bonus family room with soaring cathedral ceilings. Upstairs offers 4 spacious bedrooms and 2 full baths, including a primary master suite with cathedral ceilings. Includes an attached 2-car garage. Conveniently located near a local bus line with a straightforward drive to Worcester, Boston, Hartford, Springfield, and Providence. Excellent opportunity to build fast equity.

Market Value Analysis

This Property
Size (SqFt) →Price →
This Property$224/sqft
Local Avg (Spencer)$252/sqft
11% BelowMarket Average

* Analysis is based on 24 actively listed and recently sold comparable properties strictly within Spencer, MA.

Property Details

Financials

Original Price$514,900
Annual Taxes$5,464

Parking

Garage2
Off-Street9

Interior Specifications

Total Rooms8
Fireplaces1
FlooringWood, Tile, Hardwood
BasementFull, Partially Finished, Interior Entry, Bulkhead, Concrete, Unfinished

Climate & Utilities

HeatingBaseboard, Oil, ENERGY STAR Qualified Equipment
CoolingWindow Unit(s)
WaterPublic
SewerInspection Required for Sale, Private Sewer

Building & Exterior

ConstructionFrame
RoofShingle
FoundationConcrete Perimeter
ZoningLR

Property & Lot

Acres0.64
SqFt Lot27,798
Lot FeaturesWooded, Sloped

Amenities & Appliances

Water Heater • Range • Dishwasher • Microwave • Refrigerator • Washer • Dryer • ENERGY STAR Qualified Dishwasher • Range Hood • Cooktop • Oven • Plumbed For Ice Maker

Neighborhood

Public Transportation • Shopping • Park • Walk/Jog Trails • Bike Path • Public School

Geography

Floorplan Breakdown

Structural Layout

Second
Master Bedroom
Master Bedroom
Lvl Second

Bathroom - Full, Cathedral Ceiling(s), Ceiling Fan(s), Flooring - Wall to Wall Carpet, High Speed Internet Hookup, Closet - Double

Property History

Price Drop
$498,000

Was $514,900

Sep 1, 2026

MLS® 73568372

Listed
$514,900

Aug 25, 2026

MLS® 73568372

Population

12,008

U.S. Census Bureau, ACS 2024 5-Year Estimates (B01003)

Median Household Income

$81K

U.S. Census Bureau, ACS 2024 5-Year Estimates (B19013)

Renter-Occupied Homes

37.0%

U.S. Census Bureau, ACS 2024 5-Year Estimates (B25003)

New Construction Permits — Worcester County

1,806 housing units permitted in the last 12 months (-4% vs the prior 12 months) — 1,006 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: 900 sq ft (the lesser of 900 sq ft or half the 2,224 sq ft principal dwelling). Lot size: 27,798 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: Jonathan Minerick

Listing Office: homecoin.com

MLS® Number: 73568372

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