Quincy MA Average Property NOI

https://blogs.umass.edu/kmfay/2022/02/21/quincy-ma-average-property-noi/ Quincy’s real estate market is arguably one of the best for real estate investors at the moment. Prices for Quincy real estate are on the upswing, but still at a reasonable level compared to other metro neighborhoods. Rent prices for Quincy apartments outpaced most other markets in greater Boston over the past few years as demand grew. As a result, not many neighborhoods offer as much upside for investors as Quincy. In this article, we’ll break down the average net operating income (NOI) for different property types in Quincy MA. To do this, we’ll use the median sales price, current property tax rates, and average homeowner’s insurance to estimate yearly expenses. We’ll use Quincy’s average rent price to estimate yearly revenue.

Comments

Post a Comment

Popular posts from this blog

Boston Apartment Availability Drops 87% In Six Months In Rapid Recovery

Image
Boston’s apartment availability percentage has been on a wild ride over the past 24 months.   In October of 2019, apartment availability was near an all-time low at 1.74% following a decade of growing demand for rental units in Greater Boston.   In 2020, it rapidly climbed to its highest level in more than a decade and peaked at 13.43% in March, more than double its cyclical high in March of 2019 (5.56%).   Since then, apartment availability has been in a free fall, and is beginning to flatten at 1.97%, very close to its level in October 2019.   That marks an 87.04% drop in availability rate in just 7 months for Boston apartments . To state the obvious, the pandemic was the main contributing factor in all of this volatility.   But why such a huge swing in both directions?   Boston is no stranger to high apartment turnover. Historically, the availability percentage has fluctuated between 2% and 8% every year, with its peak occurring in March/April and its low in October/November.   This
Read more

Most Affordable Neighborhoods To Rent an Apartment In Boston

https://www.thepostcity.com/most-affordable-neighborhoods-to-rent-an-apartment-in-boston/ Boston’s average rent price has been rapidly rising in 2022 after 2 years of stagnation during COVID. The current average rent price for Boston apartments ($2,722) is up +8.23% year-over-year and as of April, that figure has surpassed its previous all-time high of $2,646 set in June 2020. Now the city of Boston is among the most expensive places to rent an apartment in the US. If you’re a renter on a budget in Boston, these numbers can be intimidating. Luckily, we combed through tons of apartment data to find the most affordable neighborhoods to rent an apartment near Boston. Here’s the list!
Read more

Somerville MA Median Home Sales Prices

Image
  Like most of Metro Boston, real estate prices have been fast on the rise in Somerville.  The median price for single family homes for sale in Somerville MA is $992,652 over the past year.  Even more astonishing is that is has increased by 50% since 2016 when the median sales price was around $600K.  Now Somerville, once a modest blue collar suburb of Boston, is rapidly ascending to be one of Boston’s premier suburban real estate markets. Somerville’s median single family price of $992K ranks 14th highest out of the 33 neighborhoods in Metro Boston.  That rank may not sound impressive, but it is when you consider that only 3 other suburbs rank higher than Somerville on that list:  Brookline ($2.2M), Cambridge ($1.8M), and Newton ($1.59M).  You might think that COVID-19 would have hit these expensive real estate markets the hardest, but it did little to slow down the housing market in Somerville, MA.  Rental data shows that the apartment vacancy rate in Somerville stayed well below th
Read more