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Brookline 2 bed 1 bath condo close to Longwood Medical BU

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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

(2023.09.02)

 

(2023.09.02)

 

 

 

 

 

 

 

 

 

 

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