Newbie Question for Worcester, MA Investors

[Doug Dias]

Good morning. After one year of searching and making offers, we finally have a home under agreement. It is a 4 bed, 2 bath single family property at 111 Lakewood Street, Worcester, MA. 

Question 1) The house is spacious and will be rehabbed before renting. My question to you is, what can I reasonably expect to rent this property for in this neighborhood? One big con for this and other homes on this street is that it is street parking only.

Question 2) I have been looking primarily in Worcester because of all of the improvements planned for the city. Between the new ball park, the $200M+ planned for Worcester airport, and the already completed investments, I really think Worcester will continue to improve as a city in the next decade. Are you Worcester investors in agreement with this line of thought?

Thank you all in advance for your time.

Doug

[Ralph Poirier]

Look at Zillow for whats available in that area.  There's also Rentometer.  Good luck!  I hope you don't mind some constructive criticism but you really should have figured this out before you put an offer on a house.  How did you figure out how much to offer without knowing how much gross income (rent) it could produce?