Real estate in the Malden and Melrose area of Massachusetts

[Jason Bee]

Hi Everyone,

I am trying to buy my first multifamily in the Malden, Melrose, and Medford Massachusetts areas. My main area of interest is Malden but I am open to anywhere at this point to get the right property. It would be owner occupied and my primary residence for a while. I have been to multiple open houses and only seem to be finding homes that are expensive and need a lot of work and won't be worth the sweat equity nor the cost of the property itself, or homes that are really nice but that are out of my price range and won't be a good ROI because the updates are already done and there's no cash flow. I am hoping for any advice . Lastly, in your opinions, does having a property with a driveway to park a car a necessity or luxury in these areas (close to the city with public transportation)? I found a home that has no driveway but there is plenty of street parking. Thank you for your feedback!

[Donald SaintVal]

I love Melrose, but I doubt you’ll find much of a rental market there. It’s mostly middle-upper class families that are settled in. I lived in Malden and I’m pretty sure Medford would be the best bet of the 3 mentioned. With Tufts nearby and the up coming expansion of the T, that’s where the focus should be. parking is not at all an issue, Massachusetts that’s a luxury