If you’re a first- time homebuyer, your current search may be focused more on condos and single-family homes in Boston. However, you may want to consider investing in your future and taking a look at multi-family homes in Boston for sale. With a multi-family home, you can live in one unit and rent out the other(s). Not only will it give you more options, but, for a similar purchase price, you’ll be able to lower your net monthly mortgage payment and start to build your real estate portfolio. Many successful real estate investors started this way!
Let’s take a look at the numbers: the median sale price of a condo in Boston is $747,608; that same figure is $822,008 for single family homes. Splitting the difference and using those numbers as a benchmark, there are currently 18 multi- family homes for sale in Boston under $800,00– even more if you’re willing to go a little outside of the city!
Granted, being a housing provider is not easy, property management is a difficult job and there are additional maintenance costs for multi- families. That being said, most things in life that are worth it, aren’t easy and the value of Boston real estate has appreciated 91.4% in the past 10 years. While no investment is without risk, you can minimize your risk by working with leasing professionals that can provide strategic advisory so the asset’s income is producing at its highest level possible.
Now, let’s take a look at some multi- family properties in Boston, MA under $800,000:
**Disclaimer: Any figures listed in this article are estimates based on available real-time data. For a more precise evaluation based on your specific situation, down payment, mortgage product and properties you may be qualified to purchase, please speak to one of our sales professionals.
This beautiful multi-family located on the Dorchester/Roxbury border is composed of 2 units, with 4 total bedrooms and 2 full bathrooms. The first unit boasts a large primary suite bath…