Investment Deals in the Boston Area EXIST!

[Tyler Munroe]

As an investor-only agent in the Boston area, I'm looking at the market nearly every day and analyzing deals for clients. I've been pleasantly surprised to see a mix of buy and hold, flip, and ADU type opportunities surface, so I figured I'd put them out to the BP community for anyone who's in this market and feeling frustrated. I haven't walked most of these properties in person so my rehab numbers are based off the pictures, but it definitely seems like there's some value to be had here. Feel free to let me know what you think and post some more deals if you find them!

78 Endicott St, Peabody – A 4-unit property with all 2BR/1BA layouts and off-street parking in a prime location near Route 128, the commuter rail, and Salem—just a 30-minute drive to Boston.

Investment Breakdown:

• Purchase Price: $900K
• 20% Down Payment @ 7% Interest: $180K → P&I = $4,790/month
• Renovation Estimate: $200K ($50K/unit) → Total investment: $340K
• Operating Expenses: ~$18K/year (taxes & insurance)
• Stabilized Rents: $2,300/unit (market comps)
• Cash-on-Cash Return: 9% when stabilized

This deal checks a lot of boxes:

• Max units for residential financing – You could live here & house hack
• Cosmetic rehab potential – Flooring, cabinets, counters, appliances, paint (~$50K/unit)
• Strong long-term ROI – Factoring in principal paydown + 2% appreciation, a 5-year stabilized ROI of ~75%

Pre-pandemic, these deals were more common closer to the city, but now we’re looking slightly further out—yet they still work as wealth-building assets.

[Lien Vuong]

I walked the property this weekend bc its one of the few interesting ones for the past week but you'll have to account for eviction as party of this as there's two units that are tenanted. Additionally the renovation costs are going to be higher as you have to re-draw the floor plans a bit (and add in sprinklers bc its a four fam) but the great news is that you would be able to finish the attic to create larger units on the second floor and get more rents. Overall I felt that it was definitely a good opportunity but for a seasoned investor who's done more than 5 projects or has direct relationships with contractors or is a contractor themselves. My calculations were that the first two units would get $2200 for 2 bed rents and you can create 4 bed 2 baths on the second level getting $3500 rents.