Current ask
$525K
The ask places the house inside Beacon's active entry-to-middle single-family conversation rather than in the town's fully renovated premium tier.
Beacon Victorian acquisition note
A walkable Beacon Victorian with recent updates and a believable value-add second chapter.
At $525,000, 40 N Elm Street presents as a pragmatic Beacon buy rather than a lifestyle fantasy. The case rests on a walkable in-town location, a recently updated kitchen, manageable scale, and credible longer-term upside through either main-home expansion or an accessory dwelling strategy.
Working CMA range
$510K–$540K
The range is supported by nearby small-house sales, the recent 2024 kitchen and insulation work, and the property's walkable Beacon location.
Current footprint
1,062 sf
The existing scale is compact but usable, with a two-bedroom layout that reads as straightforward for owner-users and manageable for a future improvement strategy.
Best upside angle
Expansion or ADU
The prospectus is strongest when framed as optional value-add: either enlarging the main house or building a detached accessory unit over time.
Quick read
Best for a buyer who wants a usable Beacon house now and optional improvement leverage later.
The present value is in the location and recent updates. The future value is in expansion optionality.
Updated basis
The 2024 kitchen renovation, new appliances, and improved insulation reduce the feeling of immediate catch-up capital and make the house easier to own from day one.
Walkable Beacon location
The location is compelling because it combines neighborhood-scale housing with access to Main Street and Metro-North, keeping the house legible to both full-time residents and weekend commuters.
Future flexibility
Unlike a fully maxed-out house, this property still leaves room for a second chapter. The CMA prospectus supports both a larger main-home strategy and a detached ADU concept.
Beacon CMA
The current pricing looks defensible because the house lands in Beacon's small-home middle rather than in its most aggressive tier.
The subject is a 2-bedroom, 1-bath Victorian built in 1900 with 1,062 square feet on a 0.10-acre lot. It is currently listed at $525,000, with annual taxes of $9,646 and 2024 improvements that include a renovated kitchen, new appliances, and better insulation.
A reasonable working value band is roughly $510,000 to $540,000. The same-street sale at 36 N Elm Street is especially helpful because it supports the current ask even though that comp is somewhat larger and has an extra bedroom.
Subject snapshot
What the buyer is actually getting
House type
Single-family Victorian
Lot size
0.10 acres · 4,356 sf
Layout
2 beds · 1 bath
Key advantages
Updated kitchen, backyard, Main Street access
36 N Elm Street
$530,000
3 beds · 1 bath · 1,394 sf
This is the cleanest direct check because it sits on the same street. It is larger and has an extra bedroom, but its sale close to the subject's ask helps support current pricing.
69 Beacon Street
$495,000
2 beds · 1 bath · 1,136 sf
This comp is similar in scale and layout, which makes it helpful as a lower-band reference. The subject's updated kitchen and insulation help explain the higher positioning.
29 Dinan Street
$625,000
2 beds · 1 bath · 894 sf
This smaller but more premium result shows that Beacon buyers will still stretch for polished, move-in-ready product in strong locations.
7 Duncan Street
$440,000
3 beds · 1 bath · 960 sf
This lower-price sale helps define the floor for compact Beacon houses and gives context for why the subject must continue to present as updated and well-located.
359 Verplanck Avenue
$460,000
3 beds · 1.5 baths · 1,320 sf
This active listing is larger but priced below the subject, which is a useful reminder that the North Elm pricing case depends on condition and location quality, not just square footage.
Investor prospectus
The most interesting upside is optional, not required.
The house works today as a simple Beacon ownership play. The prospectus adds a second layer: either expand the main residence to create a larger family-scale home, or explore a detached ADU that introduces separate income potential over time.
Scenario 1
Main home expansion
The expansion scenario grows the existing home into a more versatile 3- to 4-bedroom residence. The larger the addition, the more coherent the value proposition becomes, with the 750-to-1,000-square-foot range producing the clearest return profile in the supplied prospectus.
Add 500 sf
Total 1,562 sf
Estimated project cost $172,500, with projected after-repair value around $702,900.
$5,400 net profit · 0.77% ROI
Add 750 sf
Total 1,812 sf
Estimated project cost $258,750, with projected after-repair value around $815,400.
$31,650 net profit · 4.04% ROI
Add 1,000 sf
Total 2,062 sf
Estimated project cost $345,000, with projected after-repair value around $927,900.
$57,900 net profit · 6.66% ROI
Scenario 2
Detached accessory dwelling unit
The detached ADU strategy is the more income-focused path. The supplied underwriting models monthly rent between $2,000 and $2,600 depending on size, while also highlighting Beacon's favorable updated ADU rules and on-site owner-occupancy requirement.
ADU 500 sf
Cost $230,000
Modeled rent is $2,000/mo, or about $24,000/yr in annual gross income.
7.83% cap rate · est. value add $412,500
ADU 650 sf
Cost $299,000
Modeled rent is $2,300/mo, or about $27,600/yr in annual gross income.
6.92% cap rate · est. value add $500,250
ADU 800 sf
Cost $368,000
Modeled rent is $2,600/mo, or about $31,200/yr in annual gross income.
6.36% cap rate · est. value add $588,000
Possibilities
The house also supports a more ambitious renovation story if design appetite and budget align.
These images are presented as renovation possibilities rather than as current condition. They show a more elevated architectural direction for the property, with a clearer porch composition, stronger exterior detailing, and a more intentional relationship between the main house and rear structure.
Renovation concept
Whole-home renovation concept
These renderings show a more ambitious architectural renovation path for 40 N Elm Street: a refined white exterior palette, stronger porch presence, black metal roofing, sharper window detailing, and a more resolved rear accessory structure. Read as a possibility rather than as current condition, the concept helps illustrate how the property could move from a modest Beacon house into a more design-forward long-term hold.
Property photos
The images support a clean, honest house story.
The photo set shows the house as it is: a modest but useful Beacon property with an updated kitchen, a real yard, and interior spaces that can improve further over time. The hero image above carries the curbside identity, while the rest of the set rounds out the day-to-day livability case.
Front exterior and porch
Used as the hero image above, the front exterior frames the house as a straightforward Beacon Victorian with a clear street presence and dedicated driveway parking.
Rear yard depth
The backyard image shows that the lot has real usable outdoor area, which matters for family use, tenant appeal, and any future accessory structure planning.
Updated kitchen
The renovated kitchen is one of the clearest proof points for the 2024 update story. It gives the house a cleaner immediate-use case and lowers the need for short-term cosmetic spending.
Main living room
The living room reads as functional and comfortable rather than heavily staged, which supports the broader thesis of a practical, livable house instead of a speculative design flip.
Stair hall and circulation
The stair and hall photo helps clarify the house's internal circulation and reinforces the property's older-home character, including its more traditional vertical layout.