Does anyone know what the rental market is like in Lancaster, Mass? Once my wife and I find find a home and move out we will need to put our unit up for rent. It's a 2BR 1bath approx 920 sqft.
The rental market there has been pretty quiet, with only 10 rented in the last 6 months. 5 of those were 2 beds.
There has been only one 2/1 rented and that was at 28 Kinnear Ave, 887 sq ft at $850/month.
Three townhouses were rented at 246 High St. Those were all 1128 sq ft 2/1.5 at $1450.
One was rented at 555 Red Tail Way. That was 1700 sq ft 2/2.5 at $2000.
Hope that helps!
@Charlie MacPherson Thank you! I looked more in dept on the apartments you gave me. I think I should be able to rent one of my units(2/1 approx 1,100sqft) for at least $1,100 given the condition, location, and oil, hot water, and trash included.
I think my other unit 2/1 920sqft for at least $1,250 . It is newly renovated, new kitchen with marble tops and appliances and flooring and fresh paint. This also includes oil, hot water and trash.
I would certainly think so if you're including heat.
I just checked again - none of the other rentals I mentioned earlier included heat.
If I ever need a place to go to warm up this winter, I'll go to your tenant's place. I'm sure it will be a nice balmy 75 degrees with you paying for their heat! :-)
Hi @Charlie MacPherson What is the resource you're using to find the rental numbers if you don't mind sharing? Thank you
As a full time agent, I use MLS.
Great thank you
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing