Which neighborhood in Cambridge to invest in?

Asked by Scottballet, 01824 Wed Jun 26, 2013

I have a rental unit in North Cambridge and have been very pleased with it. I am hoping to pick up another rental property in Cambridge over the summer. Can anyone suggest a good neighborhood/area for another rental? Any sales agents particularly familiar with the rental market too?

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Robert Ortiz, Agent, Cambridge, MA
Thu Oct 10, 2013
Hey Scott!!!

East Cambridge and North Cambridge are the best value buys. Draw for East Cambridge is proximity to Kendall, MIT and MGH. Draw for North Cambridge is Alewife and Davis plus easy access to Rt 2.

I have a non-MLS 3-Fam for sale in North Cambridge. 5% cap with current condition/rates. With the right amount of work to each unit could very easily improve to a 7% Cap with the 2014-2015 leases.
0 votes
James Daniel, Agent, Cambridge, MA
Thu Aug 29, 2013
Good question Scott. Here's my take on what's happening now. Just about anything or anywhere in Cambridge would be a good investment right now for two reasons: Inventory is at an all time low and prices are still headed up. Cap rates are in the 5% range at present. You can use the rate as a baseline to help you determine the value of a property. Bottom line, it really depends on your budget. Hope that helps.
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Territory.c…, Agent, MA,
Thu Jul 11, 2013
Inman and East Cambridge are still gentrifying so those might be the areas to consider however prices in Cambridge overall have really popped. Regardless of the increase in prices it is still a great place to put your money as the rentals (ROI) is fantastic due to MIT/Harvard & BioTech & Tech companies - strong economy. We have had a lot of clients invest there in the last 6 months during the peak and they are making out very well.

Here is everything on the market in Cambridge:

Territory Real Estate
Massachusetts Destination for Home Buyer's
617 848 5407 ext 704
Web Reference:  http://territory.com
0 votes
Jim Driscoll, , Lynnfield, MA
Wed Jun 26, 2013
the market in Cambridge looks very hot. I just put some number together to answer your question. It looks like my number might not be lining up well below. Feel free to call me and I can forward the numbers to you in an email. I also work with some of the top agents in Cambridge. I will refer you to the right person. My number is 617-529-9007

Section of Cambridge Sales in 6 months Inventory Average Sale Price last 6 months

Agassiz 8 1 $907,375
Avon Hill 11 2 $1,276,363
Cambridge Highlands 0 0
Cambridgeport 3 23 $694,400
Central Square 8 0 $576,362
Coolidge Hill 1 1 $1,370,000
East Cambridge 75 10 $518,832
Harvard Square 21 12 $1,500,785
Inman Square 13 3 $499,377
Kendall Square 8 0 $710,875
Mid Cambridge 27 5 $778,111
North Cambridge 18 4 $560,676
Porter Square 9 0 $581,389
Riverside 13 1 $719,000
Strawberry Hill 2 2 $758,250
West Cambridge 31 6 $1,348,867
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Tara Spitzen, Agent, Cambridge, MA
Wed Jun 26, 2013
Areas around Harvard University are great because there is a high demand for rentals in the area. The rental market is strong all over Cambridge right now and demand has expanded into Somerville as well. I recently helped a client buy a property in Somerville very close to the Cambridge line which she will use as a rental after living there for a year. She hopes to rent to Harvard students or faculty. I've also worked with students and other renters in the area. East Cambridge is getting really hot, too. What sort of price point are you considering? I'd love to help you find something if you'd like to discuss this further.
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John J. Dean…, Agent, Boston, MA
Wed Jun 26, 2013

Most of Cambridge can be considered a good investment area but I think you need to define what your investment strategy is and then you can tailor your search to those areas that match what you are looking for in a tenant and building. Are you looking for a multi-family or condos. if condos large associations or small ... There are so many options and questions to find the right fit.

Then there is budget ..

Are you working with a local Realtor to help you ?
0 votes
Katie Malin, Agent, Cambridge, MA
Wed Jun 26, 2013
Hey Scott-
Investing nearby to the universities is a great idea- which happens to be around porter and Harvard sq. many people like to be near central sq as well as its close o many tech companies.
My father owns 140 rental units and I run his business and work in sales; would be happy to help!
Katie 781-799-5981
0 votes
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