This newly listed Brookline 2 bed 1 bath condo is close to Harvard Medical area (Longwood) and Boston University. Annual return rate is above 4 percent, but I wish it would be higher.
Overview
$875,000
2 bd 1 ba 1,126 sqfts
Price cut: $20K (8/8)
44 Saint Paul St APT 1, Brookline, MA 02446
Condominium
Built in 1925
Heating: Baseboard
AC: Ductless
Parkin: Rented
$696 monthly HOA fee
$777 price/sqft
2% buyers agency fee
Location
BU: 10 min bike; 30 min walk
Harvard Medical area: 7 min bike; 21 min walk
Saint Paul Street Stn (Green): 8 min walk
Stop and Shop:
Trader Joe's
Photos
Floor Plan
Annual Return Rate on Purchase Price
= {(Monthly rental income - property tax - home insurance - hoa fee) x 12 months x 100 percent} / (Purchase price x 1.03)
= {(5,000 - 802 - 306 - 696) x 1,200} / (875,000 x 1.03)
= 3,835,200 / 901,250
= 4.25 %
Conclusion
Although lower return rate, I would give an offer at a lower price.
Pros: location, in-unit washer and dryer, a balcony
Reference from Zillow
https://www.zillow.com/homedetails/44-Saint-Paul-St-APT-1-Brookline-MA-02446/56565766_zpid/?
Reference from Yougotlisting
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