Some good sites to look into are neighborhood scout and city data
Also you want to consider the tenant class you are looking into-
Have you analyzed deals in the areas you are looking into?
thanks @stevebracero, definitely thinking about tenants which is why I eliminated brockton and taunton. do some or all of the above places i mention give cause for concern? I am trying to find a multi-family for about $400k. i have analyzed deals using the calculators, can find good deals when changing the numbers of course. would need significant discounts in many cases.
@Brian Kosack I just did a quick check in Plymouth county. There are 23 MFRs <$400,000. 11 of which are not in Brockton.
Some need extensive work, but some don't. One is a duplex in downtown Plymouth that looks pretty nice.
thanks for that, very nice of you. was it the 440k on sandwich street?
If you're interested in the north shore, Salem is pretty hot right now. You'll always have renters in Salem too because of the college. A ton of development and renovations happening in the area and you still have the commuter rail which is making it an ideal place for young buyers. You can still find a 2 family and SF under $400k. Tons of condos too. You can try parts of Revere and Lynn too. Those areas are all up and coming because of the cost of living closer to the city pushing everyone out. Chelsea and Everett have already hit so good luck finding something there (scoop something up immediately if you can find something for that price!!). With the new Suffolk Downs project coming and the new developments in Revere Beach, that area is already starting to become a hot bed for investors. I'm happy to answer any questions if you have any!
@Katherine Robbins Where are you seeing two families for under 400k in Salem!? I haven't seen anything under 500k for the past few months.
@matttatkow Actually, I just saw one this week with my buyer at 18 Butler St. We put in an offer but lost out to a cash buyer. There are currently 6 under agreement in Salem under $400k..they go quick so you've got to act fast.
@Brian Kosack Are you buying to rent or buying to flip?
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