Best Towns/Cities to Invest in Metro Boston Area

[Mugdha Joglekar]

Hello, 

We are looking to invest in a condo around Metro Boston area. We currently live north of Boston and this would be purely investment/rental cash flow  property. We are debating between saturated towns like Somerville / Medford vs Lowell /Nashua/Andover.... Thoughts? Any other recommended towns ? 

Thank you,

Mugdha 

[Lior Rozhansky]

@Mugdha Joglekar So medford/Somerville to be honest you will have a pretty tough time getting a unit there even if you go up to 300K (maybe a really small, say 400/5-- sq foot unit not in great shape, but even then I would say it wouldn't be easy). Malden and Everett are great choices--Malden has the T stop, and though Everett doesn't, it has bus routes and a strong rental market. Other places to consider could be Revere, which has 3 T stops in the city. It's a strong rental market, and there's been some recent activity of larger developments, so the city is definitely getting some attention. Other places to consider would be parts of Dorchester, though with your budget you may have a hard time getting into the desirable parts (Savin Hill etc). In all of those areas (malden, everett, revere, dorchester etc) you are probably looking at around pretty decent shape 2 bed condo, though obviously this can fluctuate quite a bit depending on area and inventory. 

There's a few additional areas you could consider, such as Quincy which has some red-line stops as well some parts of say Roslindale and surrounding areas (though you would be on the lower end). I think you are priced out of brighton with your budget.

You could start looking at all those markets, though too narrow your search down you can start thinking about type of tenant you are looking for (student? family? etc), what exact criteria you would be looking for in a city (is T stop a priority?), and how far you live from those different areas (management ease).