Investor · New York City, NY · Member since 2016 · 15 posts · 0 votes
Hi, I'm looking at buying a property in Sommerville/Winter Hill on Freemont St (somewhat near the housing complex and the high school) and was wondering what the rental market is due to crime or safety in the area. Any feedback on rentals in this area? I'm new so I'm not so familiar with the area or the different streets. Thanks in advance!
China, ME · Member since 2014 · 3k+ posts · 4k+ votes
9y
@Mary S. Trulia has decent maps for crime. As for rentals, there were 10 rentals on MLS on Winter Hill over the last 6 months. 1 bed at $1700, 2 beds from $1750 to $2600, 3 bed at $3000, 4 beds at $3000 and $3695.
The rental market there is pretty darn hot - as is the market for sales.
As far as that location goes, what impacts that area's rental rates when compared to other areas of Somerville is its (current) distance to the subway. You're much better off focusing on the rents in neighboring areas of Medford for comparables along with that immediate area, instead of areas closer to the subway. I sold a clean, 90's renovation 2 bedroom condo with parking on nearby Ash St. to an investor client and he's renting it for $2,100 a month. That area has some upside with planned Green Line Extension stop. Freemont St. will be within a mile to the Lowell St. station. FYI, the school near Freemont is an elementary school.
Investor · Somerville, MA · Member since 2016 · 150 posts · 70 votes
9y
Hi Mary- PM me if you're interested in the Somerville market, It the market I primarily focus on investing in and additionally I've got a few off market properties that you may be interested in.
Additionally I currently live in East Somerville and absolutely love it, the neighborhood is amazing and full friendly people. Winterhill has a great potential to blow up once they get the green line out that way. Street by street there isn't a real large difference (especially from the renters eyes...most focus on the proximity to the T/shopping/food/school/ect. in relation to the price...aka bang for your buck.)
Rental Property Investor · Medford, MA · Member since 2016 · 288 posts · 171 votes
9y
Hey @Mike Abramowitz, sort of hijacking the thread here... I used to live in Somerville, loved it. Currently an investor in a property in Dorchester, live in Medford, but eventually I'd love to move back to Somerville. Would you mind if I shoot you a private message so we could keep in touch?
Rental Property Investor · Burlington, MA · Member since 2017 · 34 posts · 7 votes
9y
Our first offer was made (and rejected) on a duplex in Somerville. It was listed for 800k, was eventually sold for 920k CASH. It was hyper-popular for reasons.