Rich Lee Real Estate @ ERA Andrew Realty Real Estate Agents, Real Estate Consultants

Phone: (617) 417-8161
Direccion: 12 High Street, Medford, MA 02155, Boston
Sitio web: http://www.RichLeeRE.com


Rich Lee Real Estate @ ERA Andrew Realty


Rich Lee Real Estate @ ERA Andrew Realty
Rich Lee Real Estate
Your Real Estate Geek, Always.
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Brookline, MA 2 Family House Gross Rent Multipliers
Posted on August 26, 2011 by Rich
Brookline, MA 2 unit multifamily income property gross rent multipliers (GRM) haven’t been down to earth for about a decade.
Brookline, MA Average Rent Per Unit for 2 Family Houses
The GRM are high due rents that do not justify the high sale prices.  Landlords of 2 family houses have been getting about $2,000 per month per unit over the last couple of years.
Brookline, MA 2 Family House Average Rent Multiplier
Those rent levels combined with average sale prices around $1,000,000 mean that you end up with an average GRM of 23.3 through July of 2011.  I suggest that buyers of Brookline income property look at it as an affordable way to live in Brookline or as a very risk adverse and low return investment.
Data in this post is based on information provided to and compiled by MLS Property Information Network, Inc.
Posted in Housing Market, Investment
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Tagged Average Rent, Brookline, Income Property, Multifamily, Rent Multiplier
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Brookline, MA 2 Family Houses Rise In Value
Posted on August 25, 2011 by Rich
Brookline, MA 2 unit multifamily housing market average sale prices have steadily rose over the last decade.
Brookline, MA 2 Family House Sales & Average Sale Price YTD Through July
The average sale price for a 2 unit multifamily income property was $509,250 back in 1999.  The median sale price was $517,500.  These figures gradually rose with a few bumps in the road to an average sale price of $1,045,375 and a median price of $1,005,000.  Brookline averages about 10 2 family house sales through July of each year.
Data in this post is based on information provided to and compiled by MLS Property Information Network, Inc.
Posted in Housing Market, Investment
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Tagged Average Sale Price, Brookline, Income Property, Median Sale Price, Multifamily
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Cambridge, MA 2 Unit Multifamily Houses Are Affordable
Posted on August 20, 2011 by Rich
Cambridge, MA 2 unit multifamily houses are affordable if you compare them to single family houses.
Cambridge, MA Average Rent Per Unit for 2 Family Houses
Income properties like 2 unit multifamily houses add to your income and thus allow you to borrow more.  In addition, the average Cambridge single family house costs more.  On average, you’ll get $1,473 in rent per month per unit according to 2011 data.  Since I’m always interested in how this stacks up as an investor, I calculate the Gross Rent Multiplier (GRM).
Cambridge, MA 2 Family House Average Rent Multiplier
The GRM for 2011 is 21.7.  That’s very high compared to many other cities and towns for 2 family houses.  However, the average Cambridge single family house costs $1,028,063 for 2011 YTD; That house doesn’t provide any income rent!
Data in this post is based on information provided to and compiled by MLS Property Information Network, Inc.
Posted in Housing Market, Investment
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Tagged Average Rent, Cambridge, Income Property, Investor, Multifamily, Rent Multiplier
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Cambridge, MA 2 Unit Multifamily Sales Down And Average Prices Up
Posted on August 17, 2011 by Rich
Cambridge, MA 2 unit multifamily income property YTD sales through June are down from 22 last year to 12 this year.
Cambridge, MA 2 Family Sales & Average Sale Price YTD (June)
Though sales of 2 family houses have fallen, the average sale price has risen to $766,500 from $650,202. The median sale price through June has also risen from $707,500 in 2010 to $732,500 in 2011.
The drop in sales did not correspond with a drop in the time these 2 family houses spent on the market. The average days on market fell from 77 to 62.
Check back to see Cambridge 2 unit multifamily average rents and gross rent multipliers.
Data in this post is based on information provided to and compiled by MLS Property Information Network, Inc.
Posted in Housing Market, Investment
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Tagged Average Days on Market, Average Sale Price, Cambridge, Income Property, Median Sale Price, Multifamily
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Brookline, MA 2 Family House Gross Rent Multipliers
Brookline, MA 2 Family Houses Rise In Value
Cambridge, MA 2 Unit Multifamily Houses Are Affordable
Cambridge, MA 2 Unit Multifamily Sales Down And Average Prices Up
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