2 bed 1 bath VS. 3 bed 1.5 bath market in Boston

Rental Property Investor · Boston, MA · Member since 2020 · 4 posts · 1 vote

I currently own a three family 6 bed 3 bath in Dorchester MA

Going to be doing major renovations to the home but thought about turning the bottom two apartments into 3 beds and 1.5 baths with possible laundry hookup (half bath coming from large laundry room area)

I’m sure this will add value to the house overall but my goal is to rent out the bottom two and live in the 2 bed room 1 bath on the 3rd floor.

I’m wondering if there is really a large enough potential tenant out there for this much space in my area ?

Any insight helps

Thanks

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Lien VuongBusiness Member
Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
6y
It depends on the rental pool in the area and what types of tenants you want. 3 bed 1.5 baths would invite a family and 2 bed 1 bath would be professionals or young couples. The best rental unit is a 2 bed 2 bath situation where you have two professionals with more income and less people in the rooms. More beds means more rent but it also means more wear and tear if it's children and more water and sewer bill.
Look on Zillow and see what rental prices are and how they differ depending on the bed/bath counts you have.
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David Cahill
Real Estate Agent · Boston, MA · Member since 2016 · 65 posts · 32 votes
6y
There is no shortage of needs for three-bedroom apartments in Dorchester. Like Lien said, it may depend on what type of tenant you are looking for. If you want families, you can get $2,800 for a three-bedroom with certain voucher holders.
I always feel like the more bedrooms, the more money you can earn.
David
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