11 Cedar Avenue – Millbury, MA – Hutchins Esperti Real Estate

Acquisition & Project Basics

Property Characteristics: Existing 3 bedroom, 2 bathroom single-family home owned by the same family for more than 40 years. The property exhibited significant deferred maintenance and numerous homeowner-performed repairs that required correction during renovation.

Location: Millbury, MA

Acquisition Source: Agent Partnership

Construction Timeline: 6 Months

Total Timeline: 6 Months

Project KPIs

High Level Financials

Acquisition Price: $250,000

Disposition Price: $600,000

Investment Structure: Joint venture acquisition with a Realtor partner and third-party lending.

Value Add Summary

High Level Scope of Work:

Complete electrical rewire
Full interior renovation
Created open-concept main living area
Replaced roof
Repaired and upgraded siding
Corrected decades of deferred maintenance and DIY repairs
Added additional living space and improved functionality throughout

Value Add Highlights:

Added a 4th bedroom and bonus office space.
Increased living area by approximately 250 square feet, bringing the home to over 2,100 square feet.
Repositioned the property from a 3-bedroom home into a 4-bedroom home, increasing both functionality and market appeal.
Added finished basement elements to create additional usable living space.
Modernized the floor plan and finishes to appeal to today’s owner-occupant market.

Outcome

This project transformed a severely distressed property into a fully renovated, move-in-ready residence.

Strategic improvements to the layout, square footage, and bedroom count significantly increased market appeal and overall value. The project successfully sold for $600,000 after approximately six months of acquisition, renovation, and disposition activity.