Single Family Rental Market- Quincy, MA

Single Family Rental Market- Quincy, MA

Quincy, MA · Member since 2016 · 1 post · 0 votes

Greetings Bigger Pockets,

I was curious if anyone had any information, experience, advice or lessons learned about renting single family homes in Quincy, MA. Our primary residence is currently a 1,600 SF 3 BR 1.5 Bath on 5,500 SF lot located almost directly between Quincy Center and Wollaston train stops near the 100's of condos that are currently being built and allegedly rented for crazy amounts ($1,800/month for a 1BR is more than my mortgage!).

I don't want to make this too much about my particular situation- but my wife and I have been looking seriously (pre-approved for 2nd mortgage) to make our first move the past 6 month and a series of factors (Quincy real estate going nuts, work increasingly moving us north of the city, kids, family close by etc.) have lead us to ask the question if the house we are currently living in could be a viable rental.

So after all that I turn to Bigger Pockets because researching single family homes/market conditions seems to be much tougher than multi-family (unless I am looking in the wrong spots). On the surface you think is 3 BR apartments go for $2,500/month in the area than a 3 BR house w/ parking and a yard should easily go for the same- but I am also afraid I may be attracting a more difficult type of tenant to a house and/or there are cans of worms I am not thinking about that wouldn't present if I was renting just a unit (beyond just the usual pains of being a landlord- which there are 100's of posts on and I don't want to turn this post into that).

Thank you for your help & time,

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  • Realtor · Boston MA · Member since 2016 · 67 posts · 9 votes
    9y
    Stanley Christopher Hi neighbor. I own/manage several rental in quincy braintree. Rental stays pretty strong in our areas. If your sfh is in good condition, with 3 bed and 1.5 bath I think $2500 is fair. You however can't compare sfh to brand new built condo unit though. That's apple to orange. If you have made up your mind to rent it, all you need to do is put it on market and wait until you meet the right Tenants that you feel comfortable letting them live there. You always have the choice to pick the right tenants. = ) Let me know if you have any specific rental questions.
  • Quincy, MA · Member since 2014 · 45 posts · 26 votes
    9y

    I'm in Quincy as well. The new apartments/condos near the Lowes on Burgin parkway, Wollaston, and in Quincy Center are renting at those rates (actually a bit higher), however they are luxury units chock full of amenities like dog walking services, dry cleaning, etc. They would be a step above a SFH, assuming it isn't completely renovated. Also, they are marketed toward millennials. You are looking at a different market with a 3BR. But I agree, $2,500 for a 3BR is a reasonable price.

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