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Updated over 4 years ago, 06/24/2020
How to determine a good deal in Massachusetts?
I’m looking at multi family homes in the upcoming Worcester, Ma area and I’m finding a lot of seemingly slim margins looking at 3 unit properties. Unfortunately, Massachusetts is one of the priciest areas to buy houses in. Market rents seem to be 1500/unit (3bd, 1ba). Average price seems to be high 300’s low, 400’s. Does this seem worthwhile? After budgeting for capex, rehab, and other items. Is ~$1100/month worthwhile profit considering the high cost of initial investment? Does anyone else have experience dealing in areas near there where they see better returns?